Business InnovationAnnouncedLG Electronics Seeking Patent For TV That Allows For NFT Trading
Milestone Date: May 23, 2023
Electronics firm LG is seeking a patent for a new television device that would allow users to trade non-fungible tokens (NFTs). Users would be able to connect to an NFT marketplace via the device, receive and display NFT artwork, and facilitate purchases through the user's cryptocurrency wallet, which would be linked to the TV.
LG is no stranger to blockchain. It has been a Hedera node operator since 2020 and serves on Hedera’s Governing Council. In September 2022, it released its LG Art Lab Marketplace, which allows Hedera NFT owners to buy, sell, and showcase their NFTs on LG WebOS-based TVs that have the most recent software update.
LG's decision to file for a patent indicates its anticipation of the sustained consumer demand for NFTs in the foreseeable future as well as its desire to give mainstream consumers easy access to NFT ecosystems through standard consumer electronics. It also reflects the company's acknowledgment of the potential revenue opportunities associated with consumer-driven viewing, transacting, and interacting with NFTs.
By Elizabeth Morrison
Published:May 23, 2023