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LG Electronics is looking for CTOs to lead its new Web3 business, according to the company’s official website. The South Korean electronics maker is recruiting CTOs in two divisions including business development and service design.
LG Electronics to Recruit CTOs in Two Web3 Departments
South Korea’s LG Electronics posted job openings for Chief Technical Officers (CTOs) for the company’s Web3 business. According to its official website, LG wants to hire two CTOs to spearhead its business development and service design Web3 departments.
The business development CTO will be responsible for developing new businesses in the areas of blockchain and Web3, as well as looking for strong partnership opportunities on the global Web3 stage. Regarding the service design unit, the CTO will be in charge of developing decentralized applications (dApps) and make further research on blockchain and Web3 solutions.
One of the preconditions for the jobs is an understanding of Distributed Ledger Technology (DLT) and non-fungible token (NFT) utility. In September, LG launched a proprietary NFT marketplace, which allows users to buy, sell, and trade NFTs on some of the LG smart TVs.
The electronics giant continues to double down on its Web3 and blockchain efforts in 2022 after announcing its new business development goals in February including “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency.” More recently, LG rolled out its own crypto wallet dubbed “Wallypto,” powered by the Hedera Hashgraph blockchain.
More Bigwigs Looking to Tap Into Web3 Potential
With its new job postings, LG becomes the latest in a series of big corporations that are ramping up Web3 efforts this year. Another Asian giant, Konami, also announced last month it is hiring “a wide range of talent” to develop Web3 and metaverse experiences.
Similarly, Wall Street behemoth JP Morgan said in October it is working on a Web3 digital identity solution that will allow users to “traverse across digital realms” including Web3, decentralized finance (DeFi), and the metaverse.
Web3, often referred to as the “future of the internet,” represents the new iteration of the World Wide Web based on ideas and concepts like decentralization, blockchain, and token-based economics. While the Web3 market has also seen a crunch in 2022 due to a downturn in the broader crypto industry, the space continues to attract big players and venture capital (VC) investors who want to unlock Web3 potential in the long run.
This article originally appeared on The Tokenist