LG Electronics files patent for NFT-trading TV

South Korean tech company LG Electronics has submitted a patent application for its blockchain-based Smart television that permits users to trade nonfungible tokens (NFTs). The details was released on WIPOs worldwide database for copyright on May 11. According to WIPOs documentation, a patent application is published 18 months after the filing date or the concern filing. Based upon this timeline, LGs application was submitted in November 2021. The next steps include substantive examination, followed by approving or declining legal security to the development. According to LGs application, its innovation enables gadgets to get in touch with a crypto wallet and an NFT market server to enable deals. When linked to an NFT market server, the gadget includes onscreen QR codes that let users complete transactions by means of a cryptocurrency wallet.A partial drawing of the proposed patent. Source: Wipo. The application follows the release of LGs own NFT platform last September — the LG Art Lab Marketplace is based on the Hedera network. It allows TVs running webOS 5.0 or later on variations to trade digital artworks.Its unclear if the TV will integrate with various wallets or be restricted to LGs Wallypto, the businesss mobile phone crypto wallet, which is likewise offered on its Art Lab Marketplace. LG is onboarding a series of Web3 solutions on its devices. In January, the business divulged a collaboration with cloud-based innovation platforms Oorbit and Pixelynx to bring the metaverse straight into audiences living spaces. At the time, Cointelegraph reported that the collaboration was created to permit consumers to check out interconnected virtual worlds, shows and expert system multiplayer games through their LG TVs.LG is not the just huge tech business working to incorporate Web3 into its products. In 2015, its competitor Samsung announced a new clever television lineup integrated with an NFT platform. The business is likewise actively investing in NFT and metaverse projects through its venture capital arm, Samsung Next.Magazine: 4 out of 10 NFT sales are fake: Learn to find the indications of wash trading