LG Electronics Files NFT TV Patent
LG Electronics has applied for a patent for its Smart TV. Users will be able to trade NFTs through the blockchain-based TV. On May 11, the World Intellectual Property Organization’s global database for intellectual property released the information, indicating that the patent application is typically published 18 months following the filing date or priority filing. As a result, LG’s proposal was submitted in November 2021.
According to the patent application, LG’s technology will enable devices to communicate with a cryptocurrency wallet and an NFT market server to facilitate transactions. When the gadget is connected to an NFT market server, the technology will display QR codes on the screen, allowing users to execute transactions using their cryptocurrency wallet.
LG’s new NFT platform will be available in September 2021, following the debut of its platform, the LG Art Lab Marketplace. It was created using the Hedera network. The platform allows users of webOS 5.0 or later to trade digital artworks. It is unknown whether the TV will support other wallets or would be limited to LG’s Wallypto, the company’s smartphone crypto wallet that is also available on the Art Lab Marketplace.
(With inputs from Shikha Singh)
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