LG Electronics recordsdata patent for NFT-trading TV

South Korean tech firm LG Electronics has filed a patent software for its blockchain-based Good TV that enables customers to commerce nonfungible tokens (NFTs). 

The data was printed on WIPO’s world database for mental property on Might 11. In accordance to WIPO’s documentation, a patent software is printed 18 months after the submitting date or the precedence submitting. Primarily based on this timeline, LG’s software was submitted in November 2021. The subsequent steps embody substantive examination, adopted by granting or refusing authorized safety to the invention.

In keeping with LG’s software, its know-how permits units to attach with a crypto pockets and an NFT market server to allow transactions. When related to an NFT market server, the gadget incorporates onscreen QR codes that permit customers full transactions by way of a cryptocurrency pockets.

A partial drawing of the proposed patent. Supply: Wipo.  

The applying follows the discharge of LG’s personal NFT platform final September — the LG Artwork Lab Market is predicated 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 completely different wallets or be restricted to LG’s Wallypto, the corporate’s smartphone crypto pockets, which can also be obtainable on its Artwork Lab Market.

LG is onboarding a spread of Web3 options on its units. In January, the corporate disclosed a partnership with cloud-based know-how platforms Oorbit and Pixelynx to deliver the metaverse immediately into viewers’ residing rooms. On the time, Cointelegraph reported that the collaboration was designed to permit prospects to discover interconnected digital worlds, live shows and synthetic intelligence multiplayer video games by means of their LG TVs.

LG shouldn’t be the one huge tech firm working to combine Web3 into its merchandise. Final 12 months, 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 by means of its enterprise capital arm, Samsung Subsequent.

Journal: 4 out of 10 NFT gross sales are pretend: Study to identify the indicators of wash buying and selling