LG Electronics has launched a non-fungible token platform, LG Art Lab, available in the U.S. on the company’s smart TVs running webOS 5.0 or later. Accessible from the home screen, the LG Art Lab lets users buy, sell and enjoy digital artwork transacting as NFTs. Based on the enterprise-grade public Hedera network, the LG Art Lab uses onscreen QR codes and works via Wallypto, LG’s new cryptocurrency wallet for smartphones. The platform includes a discovery feature, LG Art Lab Drops, which profiles artists, previews upcoming works and includes a real-time Live Drops countdown clock to keep purchases on track. Read more

Netflix, which said it lost almost one million subscribers in Q2, has been aggressively cutting costs, implementing a variety of measures that range from scaling back its real estate footprint to trimming cloud computing. While the streaming giant says the cuts have not significantly impacted content spending, it has laid off more than 400 employees in 2022 and has begun hiring more junior staff, according to reports. Macroeconomic trends have made belt-tightening common across the industry, but at Netflix it stands in stark contrast to years of explosive growth and free spending. Read more

The world is preparing for a passwordless future, which Apple provides with the September 12 launch of iOS 16 and macOS Ventura next month. Known as passkeys, the password replacement will work across iPhones, iPads, and Macs, letting users log in to apps and websites and create new accounts without having to store a password. Made from a cryptographic key pair, the passkey is synced across iCloud’s Keychain. Google, Microsoft, Meta Platforms and Amazon are also in various stages of developing passkeys using standards created by the FIDO Alliance, which means they’ll all likely be interoperable. Read more

Apple revealed its highly anticipated 5G-capable phones this week during its annual September product event. While all four models — including the iPhone 14 and larger iPhone 14 Plus — offer improved cameras and new safety features, the iPhone 14 Pro and iPhone 14 Pro Max are the first to utilize Apple’s new A16 Bionic chip, built on the new 4-nanometer process. Apple calls it “the fastest chip in a smartphone.” All four models have satellite connectivity to send emergency messages in areas without cell coverage. The company also debuted the Apple Watch Ultra, aimed at high-performance athletes, and the AirPods Pro. Read more

This past year, Big Tech has invested more than $95 million in lobbying initiatives designed to kill the American Innovation and Choice Online Act, which seeks to rebalance the power between consumers and major technology companies such as Amazon, Alphabet, Apple and Meta Platforms. In two years, the bill has advanced further than any similar U.S. legislative effort, but time is running out before midterm elections and the unknown of a potential shift in control of the House and/or Senate. Supporters of the measure say they currently have the votes needed for passage. Read more