- The new technology allows LG TVs to connect to a digital wallet and an NFT market server.
- Last year, the electronics giant launched the LG Art Labs NFT marketplace.
LG Electronics is seeking patent protection for a television set that allows users to trade non-fungible tokens (NFTs).
The device enables a connection with a non-fungible token market server. It receives and displays digital artworks, which, through incorporated on-screen QR codes, are tradeable via a crypto wallet connected to a TV. The filing appeared on the World Intellectual Property Organization (WIPO) website on May 11.
The application, made in November 2021, according to WIPO’s patent application timelines, currently awaits examination, after which the granting or refusal of the patent rights would follow.
LG Art Labs NFT Marketplace
The South Korean tech firm has not disclosed if the NFT trading-enabled TV would be integrated with competing crypto wallets or based only on Wallypto, LG’s smartphone crypto wallet on Art Lab Marketplace. The new device features biometric authentication via a front camera that users can use to access their wallets.
LG launched the LG Art Labs NFT marketplace, available to all US LG television owners using webOS 5.0. The marketplace is available from the LG homes screen and allows users to buy, sell and trade non-fungible tokens from their homes. The app uses the Hedera network, based on a Hashgraph, an alternative to a blockchain. LG has been a node operator on Hedera Hashgraph since 2020.
The tech giant is not the only electronics company bringing digital collectibles into its smart TVs. Samsung announced three TV models at the beginning of last year featuring an “intuitive, integrated platform for the trading of digital artworks.” Through its venture capital division, Samsung Next, the company is expanding its metaverse projects, which feature NFT projects immensely.
