Arbitrum’s native ARB token is up over 5% on the day following news that LG Electronics has tapped the Ethereum scaling solution to launch a new blockchain.
Arbitrum (ARB) price chart. Source: The Block/TradingView
The network is designed to support advertising and media-related use cases, according to Fortune, which reported the story on Thursday, citing representatives from LG and Arbitrum.
This would not be LG’s first foray into blockchains. The South Korean tech conglomerate has previously launched the enterprise-focused Monachain, through its IT services arm LG CNS, and a dedicated Wallypto crypto wallet. It has also explored AI agentic payments via deposit tokens, as part of the Bank of Korea’s Project Han River pilot.
Last year, LG shuttered its Art Lab NFT marketplace, which was first launched on Hedera before expanding to Ethereum.
