Revolutionizing Entertainment
In a move that’s sure to raise eyebrows and eyebrows only slightly above normal, LG Electronics has thrown its hat into the blockchain ring with a patent for a smart TV that lets you trade nonfungible tokens (NFTs). Imagine switching from binge-watching your favorite shows to a spontaneous NFT sale – that’s what LG is envisioning. According to documents from the World Intellectual Property Organization (WIPO), LG’s patent application was made public on May 11, having been filed back in November 2021.
The Patent Process: Wait, What?
The legal world moves at a snail’s pace, especially when it comes to patents. A fun fact: the WIPO usually publishes patent applications 18 months after the filing date. So yes, patience is indeed a virtue—much like holding onto all those beanie babies we convinced ourselves had value in the 90s. Following the publication, the patent will undergo a rigorous examination. LG might be anxiously waiting to see if their technological marvel gets a green light or a big fat ‘nope’.
How It Works: The Tech Behind the Trade
So how does LG’s envisioned TV work? Well, once you’re plugged into an NFT marketplace, your TV can display onscreen QR codes, allowing you to execute transactions via your crypto wallet. It’s about as easy as scanning a pizza menu for delivery, but instead of pepperoni, you’re ordering up digital art—or perhaps a digital pizza? The possibilities are endless.
Expanding the Ecosystem: A Blockchain Bonanza
This patent isn’t just a standalone venture. No, it’s part of LG’s broader strategy to incorporate Web3 solutions. Those who dug into LG’s recent endeavors might remember the launch of the LG Art Lab Marketplace in September 2022. This nifty marketplace allows users with webOS 5.0-equipped TVs to trade digital artworks on the Hedera network—because who wouldn’t want to watch TV while selling collectibles?
Competition is Brewing: LG vs. Samsung
And of course, LG isn’t sailing these waters alone. Its Samsung rival has also dipped its toes into the NFT ocean with smart TVs that boast integrated NFT platforms. In fact, just last year, Samsung announced investments through Samsung Next, aiming to make a splash in metaverse projects. It seems like the battle for your living room has officially begun, with both tech giants vying to make your screen a bit more… blockchain-y.
Conclusion: The Future of TV?
As LG dives deeper into the Web3 adventure, the implications for entertainment will be profound. Whether you’re a seasoned crypto trader or just someone who loves good ol’ TV, the merging of these technologies presents a tantalizing glimpse into the future. Your living room may become a hotspot for both film marathons and virtual art galleries, or at the very least, a lively conversation starter with your friends who still think dial-up is a thing. Who said watching TV couldn’t get any more exciting?
