LG Electronics Files For Patent Rights On TV Which Will Let Users Trade NFTs The South Korean tech giant has taken another step in establishing itself in the Web3 space by filing for patent rights on its NFT-trading TV
By Paromita Gupta •
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South Korean electronics company LG Electronics, a division of LG Corporation, has filed an application for its blockchain-based television device. The said product will also allow users to trade their non-fungible tokens.
Filed with the World Intellectual Property Organization (WIPO), the patent application titled "Television (TV) Platform Linked with Non-Fungible Token (Nft) Market, and Method for Controlling TV Platform" shares details about the technology.
According to the brief shared with WIPO, "The present invention is characterized by comprising: an output unit including a display unit and a sound output unit; a communication unit for establishing a communication connection with an NFT market server; memory including a cryptocurrency wallet; and a control unit which accesses the NFT market server on the basis of key information stored in the cryptocurrency wallet, receives and displays preview artwork data corresponding to at least one piece of digital artwork, and when a selection is made by a user, generates a purchase transaction on the basis of the key information stored in the cryptocurrency wallet, and receives, from the NFT market server, NFT status information of digital artwork corresponding to the selected preview artwork and having updated transaction details."
The tech giant further adds that since TV has excellent image quality, wide screens and viewing angles, it makes for an ideal device for displaying and viewing digital work.
LG's device will be able to connect with a crypto wallet and an NFT market server to facilitate transactions. On being connected with an NFT market server, the TV will display QR codes for one to complete a transaction via a cryptocurrency wallet. However, it's unclear whether the TV will be integrated with different wallets or will be limited to LG's Wallypto.
