LG Electronics to Launch Advertising Business Blockchain on Arbitrum; ARB Rises Over 5% Intraday

TechFlow News: On June 12, according to The Block, LG Electronics is developing a new blockchain on Ethereum’s Layer-2 network Arbitrum, primarily for the delivery, purchase, sale, and management of digital advertisements, as well as for recording user–advertisement interaction data. The blockchain will also provide advertisers and publishers with a shared advertising inventory database.

The report states that the project is being developed by LG’s dedicated blockchain research lab and has already launched a pilot program with an unnamed Japanese advertising agency.

Following this news, Arbitrum’s native token ARB rose over 5% on the same day.