The patent application offers a method that enables users to connect their television to an NFT marketplace. The TV would then show a list of available NFTs for purchase or selling. Users would be able to make purchases using a bitcoin wallet linked to the television.
LG Electronics submitted a patent in May 2023 for a television that would let customers to purchase, sell, and trade non-fungible tokens (NFTs). The World Intellectual Property Organization (WIPO) issued the patent on May 11, 2023.
The patent application also discloses a method for displaying NFTs on televisions. Users could choose an NFT from their library, and the TV would show it on the screen.
LG Electronics has not said when it expects to offer a TV that enables NFT trading. The patent filing, on the other hand, implies that the corporation is serious about joining the NFT sector.
LG Electronics’ patent application is the latest in a series of steps to enter the NFT industry. LG Art Labs, the company’s own NFT marketplace, will be launched in September 2022. LG Art Labs enables users to purchase, sell, and trade NFTs based on artwork.
The said company is not the only manufacturer looking into using NFTs into their products. Samsung stated in January 2023 that it will release a TV that enables NFT trading. The Samsung Frame TV will enable customers to show NFTs on their TV screen.
The incorporation of NFTs into televisions indicates that the NFT market is developing. As the industry expands, more firms are expected to investigate methods to incorporate NFTs into their goods.