LG Electronics Increases its involvement in blockchain and web3 technology. Following the success of two innovative initiatives last year, LG is taking the next step by filing a patent for a blockchain smart TV. This advance could allow LG users to exchange NFTs from their screens.
LG reinvents TV, blockchain-focused smart TV is in the works!
LG Electronics has been making a splash in the web3 world since last year. In September, it launched the LG Art Lab Marketplacea Hedera-compatible NFT platform, as well as the ” Wallypto” a wallet for smartphones, available on the Art Lab Marketplace.
But the South Korean company made a big noise because of the filing of a patent for a blockchain-based smart TV, according to the World Intellectual Property Organization (WIPO). Further examination procedures for the smart TV are still underway since the application was filed in November 2021. In accordance with the information contained in the 50-page document, the patent application was made public 18 months after its filing.
Once the examination is completed, a decision will be made on the commercialization of this smart TV. This smart TV will allow users to manage the sale of NFTs by connecting their wallets to a dedicated NFT server directly from the screen. A QR code will facilitate the connection to the user’s wallet.
LG, complementary inventions for the ultimate experience
LG Art Lab Marketplace and “Wallypto” platform are milestones in the creation of the blockchain smart TV. The alliance between the webOS 5.0-enabled LG Art Lab Marketplace and the smart TV facilitates the trading of digital art on screens. While LG has not specified compatible wallets, Wallypto will not be omitted.
Earlier this year, LG cemented its commitment to the metaverse and web3 by launching the Blade Wallet app, facilitating NFT trading. Companies are showing increasing interest in the technology, presaging an imminent global shift.
Businesses continue to show interest for this new technology, the adoption of this new technology is increasing imminent.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.