The company that makes your TV is taking ads onchain. Arbitrum helped

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LG Electronics has built a blockchain-based advertising platform with the help of Arbitrum.
Arbitrum's ARB token has gained 5% in 24 hours.

Blockchain is no longer just a story of Wall Street banks and brokers leveraging the technology to optimize finance. Now, corporates are embracing distributed ledger to streamline business operations.

LG Electronics, the South Korean consumer electronics giant spanning TVs, laptops, and home appliances, with annual global revenue of over $60 billion, is building a blockchain-based advertising network and has chosen Arbitrum to help build it out.

LG told Fortune it has developed its own layer-2 blockchain network in collaboration with Arbitrum, a layer 2 protocol that enables low-cost, high-speed transactions on Ethereum.

LG's move is part of a broader trend of corporations seeing operational potential in blockchain technology. Walmart has used the technology to transform food safety and reduce the time needed to trace a product through its supply chain to just 2.2 seconds, down from over six days. IBM has built blockchain-based supply chain solutions, while Microsoft has integrated blockchain into its Azure cloud platform for enterprise applications.

LG's new network gives advertisers and publishers a shared database of ad inventory and tracks how consumers interact with advertisements. LG piloted the platform with an unnamed Japanese advertising agency through its dedicated blockchain research lab. LG said it will explore bringing the platform to market later this year.

The practical appeal is straightforward: It can make selling advertisements more efficient, according to Arbitrum Co-founder Steven Goldfeder. "You don't need manual interventions," he told Fortune, adding that the platform can automate the ad-selling process entirely.

Arbitrum's ARB token jumped over 7% to $0.0834 in 24 hours. The bounce is consistent with the broader market recovery, led by bitcoin, the industry leader, which rallied over 3% to $63,500, according to CoinDesk data.