LG Taps Arbitrum for Blockchain Advertising Platform

LG Electronics has partnered with Offchain Labs to develop a new blockchain based on Arbitrum, a Ethereum Layer 2 network. The goal is to create a platform for the delivery, purchase, sale, and management of digital advertising.

The network will record user interactions with advertising content, aiming to provide a faster and lower-cost transaction experience. This is not LG's first foray into blockchain - it previously launched Monachain through its IT services division LG CNS and developed the crypto wallet Wallypto.

Following the announcement, Arbitrum's native token ARB rose over 5% in a single day.