South Korean tech firm LG Electronics has filed a patent utility for its blockchain-based Good TV that permits customers to commerce nonfungible tokens (NFTs).
The data was revealed on WIPO’s international database for mental property on Could 11. In accordance to WIPO’s documentation, a patent utility is revealed 18 months after the submitting date or the precedence submitting. Primarily based on this timeline, LG’s utility was submitted in November 2021. The subsequent steps embrace substantive examination, adopted by granting or refusing authorized safety to the invention.
Based on LG’s utility, its expertise permits gadgets to attach with a crypto pockets and an NFT market server to allow transactions. When related to an NFT market server, the machine incorporates onscreen QR codes that permit customers full transactions through a cryptocurrency pockets.
The applying follows the discharge of LG’s personal NFT platform final September — the LG Artwork Lab Market relies on the Hedera community. It permits TVs operating webOS 5.0 or later variations to commerce digital artworks.
It is unclear if the TV will combine with totally different wallets or be restricted to LG’s Wallypto, the corporate’s smartphone crypto pockets, which can also be out there on its Artwork Lab Market.
LG is onboarding a spread of Web3 options on its gadgets. In January, the corporate disclosed a partnership with cloud-based expertise platforms Oorbit and Pixelynx to deliver the metaverse immediately into viewers’ dwelling rooms. On the time, Cointelegraph reported that the collaboration was designed to permit prospects to discover interconnected digital worlds, concert events and synthetic intelligence multiplayer video games via their LG TVs.
LG will not be the one large tech firm working to combine Web3 into its merchandise. Final yr, its competitor Samsung introduced a brand new sensible TV lineup built-in with an NFT platform. The corporate can also be actively investing in NFT and metaverse initiatives via its enterprise capital arm, Samsung Subsequent.
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