LG seeks patents for NFT trading TV
Electronic giant, LG, has filed a patent for a new generation TV it’s designing that allows users to trade NFTs on several NFT platforms.
The filing was done as far back as November 2021 as the database of the World Intellectual Property Organization (WIPO) releases such records only after 18 months of the filing.
NFTs are digital assets that use blockchain technology to prove ownership and authenticity, allowing creators and collectors to monetize and protect their digital creations, while also providing a new market for digital goods.
A breakdown of the information showed that the TV will allow users to connect to a crypto wallet and an NFT marketplace to buy, and sell NFTs of their choice. Another feature includes an on-screen QR code via which an external device can connect with the TV to facilitate similar transactions mentioned.
Based on the principles of the patent application, the next stage for LG towards achieving its goal is cross-examination by WIPO which will lead to either approval of the application or rejection of the application.
LG and crypto
The spread of Web3 technologies has increased over the years with media and traditional tech companies showing interest. LG for instance has announced its native crypto wallet called Wallypto. It is available for both Apple and Android users.
Beyond the wallet, the company launched an NFT platform, LG Art Lab Marketplace, in 2022 using the Hedera network.
Hedera is a decentralized public network, built using Hashgraph technology to provide a fast, secure, and fair platform for building decentralized applications. It has its own cryptocurrency called HBAR, which is used to pay for transaction fees and other network services.
In Q1 2023, LG also entered a partnership with Oorbit and Pixelynx to bring the Metaverse experience to users of LG TVs.
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