South Korean tech firm LG Electronics has filed a patent application for its blockchain-based smart TV that allows users to trade non-fungible tokens (NFTs).
The information was published on WIPO's Global Intellectual Property Database on May 11. According to WIPO documents, patent applications are published 18 months after the filing date or priority filing. According to this timeline, LG's application was filed in November 2 021. The next steps include Substantive examination, followed by the grant or denial of legal protection for the invention.
According to LG's application, its technology allows devices to connect with encrypted wallets and NFT market servers to enable transactions. When connected to an NFT marketplace server, the device includes an on-screen QR code that allows users to complete transaction s through their cryptocurrency wallets. The app follows the launch of LG's own NFT platform last September the LG Art Lab Marketplace, which is based on the Hedera network. It allows TVs running webOS 5.0 or later to trade digital artwork.
It's unclear if the TV will be integrated with a different wallet, or if it's limited to Wallypto, LG's smartphone crypto wallet, which is also available on its Art Lab Marketplace.
LG is incorporating a range of Web3 solutions on its devices. In January, the company revealed partnerships with cloud-based technology platforms Oorbit and Pixelynx to bring virtual worlds directly into viewers' living rooms. At the time, Cointelegraph reported that the part nership aimed at let customers explore interconnected virtual worlds, concerts, and AI multiplayer games through their LG TVs. LG isn't the only major tech company working on integrating Web3 into its products. Last year, rival Samsung announced a new line of smart TVs that integrated the NFT platform. The company is also actively investing in NFT and Metaverse projects through its venture capital arm, Samsung Next.
