While we are getting the LG Velvet 5G next month, it looks like there's a third variant of the smartphone. A Google Play Console listing shows the LG Velvet running on MediaTek's Dimensity 800 processor. Everything else about the phone seems to match the 5G and regular versions of the handset. According to the listing, it still has an FHD+ screen, 6GB of RAM, and Android 10. We're sure to hear more about the device if it launches.
Source: GSMArena