In an exciting development, LG Electronics, a branch of LG Corporation, has lodged a patent application for its innovative blockchain-enabled television. Notably, this groundbreaking device is designed to allow users to trade non-fungible tokens (NFTs).
The patent, registered with the World Intellectual Property Organization (WIPO), is intriguingly titled “Television (TV) Platform Linked with Non-Fungible Token (NFT) Market, and Method for Controlling TV Platform”. The application provides a glimpse into the technology that underpins this novel invention.
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As per the document submitted to WIPO, LG’s blockchain television includes an output unit with a display and sound output unit, a communication unit connecting with an NFT market server, memory featuring a cryptocurrency wallet, and a control unit. The control unit engages with the NFT market server using the cryptocurrency wallet’s key information, receives and showcases preview artwork data, and executes purchase transactions upon user selection. LG emphasized that televisions, given their superior image quality, expansive screens, and wide viewing angles, serve as the perfect platform for displaying and interacting with digital artwork.
The blockchain TV from LG is designed to connect with a cryptocurrency wallet and an NFT market server to streamline transactions. Once linked with an NFT market server, the TV presents QR codes, enabling users to finalize transactions through a cryptocurrency wallet. However, it remains ambiguous whether the television will accommodate various wallets or exclusively support LG’s Wallypto.
This news is based on an Entrepreneur article.
