Summary
- LG Electronics is building an Arbitrum (ARB)-based blockchain network for digital advertising, according to the report.
- The network will serve as infrastructure for a shared ad inventory database used by advertisers and publishers, as well as on-chain records of ad interactions.
- The report also boosted expectations for the Arbitrum ecosystem, with Arbitrum token ARB rising more than 5%% afterward.
Forecast Trend Report by Period
LG Electronics is developing a blockchain network for digital advertising based on Arbitrum, Ethereum's layer-2 network, Fortune reported.
Fortune reported on June 11, citing officials from LG Electronics and Arbitrum, that the company is building its own blockchain network for the advertising and media industry.
The new network is designed to support the registration, purchase, sale and management of digital ads. It will provide a shared ad inventory database for advertisers and publishers and store records of users' ad interactions on-chain.
LG Electronics aims to use the blockchain to improve transparency and efficiency in the advertising market. The network's name has not been disclosed, and the company's blockchain research organization is leading development. The project has also undergone a pilot with a Japanese advertising agency, the report said.
The report also fueled optimism around the Arbitrum ecosystem. After the news, Arbitrum's native token, ARB, rose more than 5%.
LG Electronics has been steadily expanding its blockchain business. Through affiliate LG CNS, it introduced the enterprise blockchain platform Monachain and launched its own digital-asset wallet, Wallypto. More recently, it has been testing deposit-token-based AI agent payment technology through the Bank of Korea's Project Hangang pilot program.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
