hiring of two new technical directors for the NFT sector

LG Electronics wants to hire two new technical directors (CTOs) to manage its activities in the field of Web3 and blockchain technologies. The corresponding announcement came a few months after filing a brand name for a crypto wallet. Digital Today reported that it was highly “likely” that the new hires would be tasked with leading the company’s expansion into the non-fungible token space (NFT).

Source: OlekAdobe / Adobe

The job posting on the company’s website specifies that interested candidates should have “an excellent understanding of the utility and technology of blockchain and NFT.” The company explained that one of the new employees will be responsible for expansion efforts in Web3, while the other will focus on research and blockchain-related applications based on this technology.

However, the South Korean company seems to want to distance itself from the rumors that it is about to make an important strategic pivot towards the cryptocurrency sector.

The same outlet quoted a spokesperson for LG Electronics as saying:

“The [décision de] Recruiting new CTOs is a purely commercial matter that need not be indulged in further speculation. Preparations for related activities, such as portfolios [crypto]go easy”.

In September, LG began conducting developer beta testing of its new crypto wallet app – Wallypto. The company also launched an NFT trading platform based on the Hedera Hashgraph blockchain.

Is LG engaging in NFT and group-level crypto space?

The company is part of the LG group, a conglomerate that manages businesses as diverse as brands in both fashion and construction. In August, its telecommunications subsidiary – LGU + – announced its NFT expansion project. Its IT services subsidiary, LG SNCmeanwhile, it has long been active in the central bank’s cryptocurrency, blockchain and digital currency industry.

Several LG subsidiaries also support the chat app giant’s Klaytn blockchain network Kakao.

Earlier this year, LG Electronics launched a Kakao-supported photo viewing app that allows owners of the company’s smart TVs to view NFT digital artwork on their devices. Again this year, LG has added “blockchain-based software development and sales, as well as cryptocurrency trading and brokerage” to its business goals list.

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