Home News LG Electronics Ventures Into Metaverse


20 Jul 2022

LG Electronics Ventures Into Metaverse

The most recent company to enter the metaverse is LG, which on July 19 submitted a trademark application for its LG ART LAB brand to the United States Patent and Trademark Office (USPTO).

The company intends, as stated in the application, to offer TV software for the issuance and trading of NFTs, as well as trading software, brokerage services, and digital asset management. In addition, payment services and software for cryptocurrency wallets can be found in the metaverse.

Before making this announcement, LG had already released a number of products related to NFT. This collaboration between the company and media artist Refik Anadol began in May and will result in the display of NFT artwork on OLED TVs.

Metaverse and NFT have created a new way for businesses to interact with customers, which has persuaded many established technology companies to enter the space. Samsung and HTC are among the more recent businesses that have expressed interest in expanding into NFT or smartphones.

In addition to LG, another electronic giant based in South Korea, Samsung, also unveiled a variety of products under the NFTs umbrella. Samsung has begun incorporating an NFT platform into its televisions, enabling customers to purchase NFTs directly from their respective devices.

In general, prominent global brands hailing from a variety of industries have been working toward the goal of entering the metaverse by filing trademark applications. According to a report by Finbold, the total number of trademarks associated with NFTs surpassed 4,000 in the United States alone between January 1 and May 31 of 2022.

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