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

The knowledge was revealed within the World Mental Property Group (WIPO) international database of mental property on Could 11. Based on WIPO documentation, a patent software is revealed 18 months after the submitting date or precedence submitting. Primarily based on this schedule, LG submitted the applying in November 2021. The subsequent steps embody inspecting the content material after which granting or denying authorized safety for the invention.

Based on LG’s software, the know-how permits gadgets to hook up with a crypto pockets and NFT market server to facilitate transactions. When related to an NFT market server, the machine integrates QR codes on the display that permit customers to finish transactions by way of a cryptocurrency pockets.

A partial drawing of the proposed patent. Supply: WIPO

The appliance follows the September 2022 launch of LG’s proprietary NFT platform – the LG Artwork Lab Market – based mostly on the Hedera Community. It permits TVs working webOS 5.0 or later to commerce digital artworks.

It is unclear if the TV will combine with varied 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 integrates a variety of Web3 options into its gadgets. In January, the corporate introduced a partnership with cloud-based know-how platforms Oorbit and Pixelynx to convey the metaverse straight into viewers’ dwelling rooms. On the time, Cointelegraph reported that the collaboration aimed to allow clients to discover related digital worlds, concert events, and multiplayer synthetic intelligence video games via their LG TVs.

LG is not the one massive tech firm engaged on integrating Web3 into its merchandise. Final yr, its competitor Samsung introduced a brand new sensible TV vary with an built-in NFT platform. The corporate can also be actively investing in NFT and Metaverse tasks via its enterprise capital arm, Samsung Subsequent.

Journal: 4 out of 10 NFT gross sales are faux: Learn to spot the indicators of wash trading