LG Electronics is partnering with the Label Foundation to bring the “Tracks Music Dapp” to its smart TVs. This move is part of LG’s broader strategy to embrace Web3 technologies. Tracks will serve as a complimentary Background Music (BGM) service for LG Smart TV users worldwide.

The Label Foundation views this integration as a significant milestone for the music industry, as it represents the first-ever integration of Web3 technology into TVs, marking the beginning of decentralized music streaming.

Users will have access to a vast music catalog for free, and they will also have the opportunity to earn rewards through Tracks.

Hyungsoon Choi, Chief Strategy Officer of Label Foundation, stated that this collaboration not only enhances music streaming but also paves the way for innovation in decentralized music applications. He emphasized that the partnership with LG signifies the seamless integration of Web3 technology into entertainment, particularly in the living room.

Web3 technology has become a focal point for the music industry, with major players like Warner Music Group partnering with platforms like Polygon and LGND.io to create music NFT marketplaces. Music NFTs enable fans to earn rewards when songs associated with their NFTs are played on selected streaming platforms.

LG’s move into Web3 technology was further signaled by its patent application for a Web3 tech stack that enables NFT trading on TVs. LG has a substantial smart TV customer base globally and is expected to play a significant role in integrating “Tracks” into various platforms, including Smart TVs and mobile devices.