Electronics maker LG files trademark for NFT

Given the ability of the Metaverse and Non-Fungible Tokens (NFTs) to offer companies new and interactive experiences to connect with consumers, more firms are embracing the sector with the intention of launching various products.

Electronics giant LG has become the next company to focus its efforts on the metaverse. The manufacturer has registered trademarks for non-fungible tokens (NFT) for its LG ART LAB.

The filing, filed on July 14, indicated that LG plans to offer TV-based NFT issuance and trading software, NFT and cryptocurrency transaction software, as well as digital token brokerage and asset management.

In a filing with the US Patent and Trademark Office (USPTO), LG also plans to provide e-wallet-based payment services and e-money exchange software in the metaverse, according to trademark attorney Michael Kondudis.

Electronics maker LG files trademark for NFT

Prior to filing this application, LG has made a name for itself by launching various products for the NFT sector. In May, the company said it was working with new media artist Refik Anadol to display NFT artwork on the company’s transparent OLED TVs. Video, audio, and health data are used to create the NFT collection.

Another South Korean electronics giant, Samsung, has also introduced various products in the form of NFTs. The company has also created an NFT platform for its TVs, allowing consumers to purchase NFT through their devices.

Interestingly, the global payment system Mastercard International Inc. also aims to offer a range of products in the metaverse.

Other leading global brands from various sectors enter the metaverse by filing for trademarks. According to Finbold, in the US alone, between January 1 and May 31, 2022, the number of NFT-related trademarks exceeded 4,000.

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