South Korean tech company LG Electronics has filed a patent application for a smart TV that allows users to buy, sell, and swap Non-Fungible Tokens (NFTs). At the same time, due to the excellent image quality and wide viewing of smart TV, LG Electronics is actively conducting research to enable television viewing devices to be used for displaying digital works.
The World Intellectual Property Organization (WIPO) published information that through the NFT market the device would allow users to permit purchases displayed on the TV platform.
LG claims that its technology is capable of conducting an NFT market by itself, enabling server transactions. When the device is connected to an NFT market server, users will see an onscreen QR code that will let them complete transactions.
Illustration of proposed practical operation. WIPO
In order to expand its market, LG Electronics launched its own NFT marketplace in September 2022 - the LG Art Lab Marketplace. It enables users to purchase NFTs via Wallypto, LG’s crypto wallet for smartphones, and trade NFTs on LG’s smart TVs. Moreover, the platform is now available only to those with LG TVs running webOS 5.0.