LG Electronics to Launch Advertising Business Blockchain on Arbitrum, ARB Up Over 5% Today

BlockBeats News, June 12, South Korea's LG Electronics has chosen Arbitrum as the underlying technology to launch a new blockchain network. The network will be designed for the advertising and media industry, serving as a platform for ad placement, purchasing, selling, and management, as well as recording user interaction data with ads. It will provide an advertising inventory sharing database to enhance industry transparency and efficiency.

This is another attempt by LG in the blockchain field. Previously, LG has launched the enterprise-level Monachain, Wallypto wallet, and has operated an NFT marketplace. The new chain is developed by LG's Blockchain Research Lab and has conducted a pilot test with a Japanese advertising company. It currently does not have a formal name and is expected to assess its commercial potential later this year.

According to HTX market data, ARB surged over 5% due to this news.