LG Electronics is seeking patent protection for the television that allows users to trade NFT. Meanwhile, LG has previously opened an NFT marketplace on Hedera called LG Art Lab.
The move came from the technology giant for NFT trading!
LG Electronics is seeking patent protection for the television that allows customers to trade Non-Fungible Tokens (NFT). The device will have the possibility to connect to an NFT market server. Thus, it will be able to receive and show preview artworks and make purchases using the user’s crypto wallet connected to the TV.
LG’s decision to file a patent indicates that the company anticipates continued customer demand for NFTs in the future. It also means he sees a commercial justification for making them more accessible. LG Electronics said in an official statement that its future business objectives include the creation and distribution of Blockchain-based technologies, as well as the trading and brokerage of crypto assets.
LG continues to expand into the crypto world
As we reported on Kriptokoin.com, LG Electronics launched its Art Lab marketplace last September, which is linked to Hedera Network, of which LG has been a node operator since 2020. In this direction, it started to introduce NFTs to its televisions. LG has also publicly announced its intention to include NFT in its smart TV lineup. LG Art Lab is currently only available to US customers with webOS 5.0 or higher televisions.
Additionally, LG Electronics has teamed up with Hedera to create an exchange app that allows users to quickly purchase and exchange NFT using LG’s cryptocurrency wallet Wallypto for smartphones. During the market crash last year, LG Electronics aggressively hired engineers for its chief technical officer (CTO) division to oversee the company’s booming Web3 business.
The South Korean company is not the only one seeing the potential to introduce NFTs to Televisions. When it comes to LG’s premium competitor, Samsung, this big guy also makes significant moves on a regular basis. For example, the decision to build the industry’s first smart NFT TV platform in collaboration with Nifty Gateway, or the introduction of the Samsung Wallet digital wallet. The latest big action is to ask for permission to open a crypto exchange in the first half of next year.
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