• 22 June, 2024

LG Enters the Metaverse, Plans a TV to Issue and Trade NFTs

Since the metaverse and non-fungible tokens (NFTs) provide new, interactive ways for businesses to communicate with customers, more corporations are becoming interested in the market and plan to introduce new products.

The world’s largest electronics manufacturer, LG, is now the latest company to concentrate on the metaverse by registering NFT trademarks for its LG ART LAB. On July 19, Michael Kondoudis, a registered trademark attorney, tweeted about the trademark application.

According to the NFT application submitted on July 14, 2022, LG intends to provide wealth management, digital token brokerage, and TV software for issuing and trading NFTs and software for NFT and cryptocurrency transactions.

LG’s application to the United States Patent and Trademark Office (USPTO) also suggested that the company offer software for cryptocurrency, electronic money processing, e-wallet payment services, and many more.

Although LG had released many products related to the NFT sector before the application. The business disclosed in May that it was collaborating with new media artist Refik Anadol to show NFT artwork on its transparent OLED TVs. The company mentioned that the NFT collection uses audio, video, and health information.

Samsung and other South Korean electronics behemoths have also unveiled NFT-related items. Other notable applications include e-Commerce leaders, eBay and Alibaba, which aim to provide NFT exchanges, virtual goods marketplaces, and online retail stores with physical and virtual items.

Generally, leading international firms from several industries have applied trademarks to enter the metaverse. A lot of these trademark applications are recorded by Kondoudis on his Twitter account. Between January 1 and May 31, 2022, there were more than 4,000 NFT-related trademarks in the United States alone.

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