LG enters the metaverse by designing a television for issuing and selling NFTs
Given the metaverse and non-fungible tokens (NFTs) capabilities to provide new and engaging ways for businesses to engage with customers, an increasing number of enterprises are entering the sector with the intention of launching new goods.
LG is the latest corporation to concentrate on the metaverse by registering trademarks for non-fungible tokens (NFT) for its LG ART LAB. The trademark application was tweeted on July 19 by registered trademark attorney Michael Kondoudis.
L.G. wants to provide television software for releasing and trading NFTs, software for NFT and crypto transactions, digital token brokerage, and wealth management, according to the NFT application submitted on July 14.
LG wants to offer e-wallet payment services and software for transferring electronic money in the metaverse, according to a patent application filed with the United States Patent and Trademark Office (USPTO).
LG’s expansion into NFTs
The application follows L.G.’s first introduction of several products in the NFT industry. In May, the business said it collaborated with new media artist Refik Anadol to exhibit NFT artwork on its transparent OLED televisions. The firm said the NFT collection incorporates video, audio, and health data.
In addition to LG, another South Korean electronic powerhouse, Samsung, also introduced new items under NFTs. Samsung has launched an NFT platform for its televisions, enabling people to acquire NFTs through their devices.
eBay (NASDAQ: EBAY), which intends to provide NFT exchanges and NFT trading, virtual goods marketplaces, and online retail shops with actual and virtual items, is another practical use.
According to Finbold, global payment facilitator Mastercard International Inc. (NYSE: M.A.) intends to provide a variety of goods in the metaverse.
In general, prominent worldwide companies from various industries have planned to join the metaverse through trademark applications. According to research by Finbold, the number of NFT-related trademarks in the United States topped 4,000 between January 1 and May 31, 2022.