LG Sets Foot in the Metaverse by Developing NFT

Meta Owned Instagram to Now Offer Digital Collectibles Feature
  • Early LG joined metaverse in December.
  • Now LG ART LAB has registered for NFTs trademarks.

Electronic giant LG is the most recent business to concentrate on the Metaverse by registering NFTs trademarks for its LG ART LAB. On July 19, registered trademark lawyer Michael Kondouis revealed the trademark applications in a tweet.

According to the U.S Patent and Trademark Office (USPTO), the NFT application submitted by LG on July 14 indicates that the company offers software for T.V.s for issuing and trading NFTs, software for NFT, and cryptocurrency transactions, digital token brokerage, and wealth management. LG also intends to offer e-wallet payment services and software for exchanging electronic currency in the Metaverse.

Partners of NFTs and Metaverse 

Early in December, LG started an NFT. Initially, the application released a large number of NFTs-related products. The business announced in May that it was collaborating with new media artist Refik Anadol to display NFT artwork on its transparent OLED TVs. The business emphasized that the NFT collection uses audio, video, and health data.

Samsung, another South Korean electronics giant, also showed a variety of NFT-related goods. Samsung developed an NFT platform for their televisions that enables customers to buy NFTs directly from their gadgets.

Others include eBay, which intends to provide NFT exchanges and NFT trading, virtual goods marketplaces, and online retail stores with actual and virtual items.

Typically, major international firms from several industries have applied for trademarks to enter the metaverse. According to a Finbold analysis, 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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