LG Files Patent for TV That Lets Users Trade NFTs From Their Couches

South Korean consumer tech giant, LG Electronics, has filed a patent for a TV that would allow users to buy, sell and swap Non-Fungible Tokens (NFTs).

According to a filing with the World Intellectual Property Organization (WIPO), the device will connect itself to an NFT market server to display various artworks and allow purchases through the user’s cryptocurrency wallet connected to the TV set – at their convenience. But. meeting with

The patent is the latest in a series of ambitious NFT plans by the Southeast Asian giant announced last year.

In September 2022, LG launched its own NFT marketplace, dubbed “LG Art Labs”, allowing users to trade digital collectibles on American LG TVs running the webOS 5.0 operating system.

Beginning in the year 2023, the company doubled down on its metaverse plans. Launched Blade Wallet that links to LG Art Labs to enable NFT transactions.

To expand into the cryptocurrency market, LG Electronics in 2020 partnered with Hedera Hashgraph, a distributed ledger technology company touted as an alternative to blockchain. Hadera has worked with Google, IBM and Ubisoft.

The move comes during the cooling off period of 2022, considered the “Year of the Metaverse”. At the time, there was great commercial interest in research and development. The Oxford Dictionaries named “metaverse” its word of the year.

South Korea is a consumer electronics powerhouse, and LG is not alone in its quest to gain market share in the digital assets industry. Its main competitor, Samsung, last year announced plans to build an NFT marketplace in partnership with Nifty.

Despite the cooling off period, yesterday’s filing shows that LG is still convinced that the NFT market will be an important player in the digital economy going forward.