LG Electronics is launching a new blockchain based on Arbitrum for use in advertising and sales.

CoinFeed reported on June 12th that, according to The Block, LG Electronics is launching a new blockchain based on Arbitrum for the placement, purchase, sale, and management of digital advertisements, as well as recording user interactions with ads. Developed by LG's internal blockchain research lab, the chain has already been piloted with a Japanese advertising company. This is not LG's first foray into blockchain; the company previously launched the enterprise blockchain Monachain and the crypto wallet Wallypto, and participated in the Han River project of the Bank of Korea. LG closed its NFT marketplace, Art Lab, last year. According to the latest data from Coingecko, the ARB token is currently priced at $0.08331, a 24-hour increase of 7.7%.