Electronic giant company LG filed for Metaverse & NFTs related trademarks for its LG ART LAB.
Metaverse is a next-level virtual reality-based concept, which grabbed huge traction after the announcement of Facebook to rebrand its name to Meta. In the race of Metaverse-based project development works, no one company is leading for now. Some small crypto companies are working to bring the Metaverse concept into reality with the use of blockchain technology to power the processing of data in the virtual world and also they are considering introducing digital currency in the virtual world to provide virtual services.
On 19 July, Michael Kondoudis, licensed trademark attorney, informed his followers on Twitter that the popular electronic company LG filed a trademark application for LG ART LAB on 14 July, which aimed to offer NFTs support on its new TV software.
The tweet confirmed that LG will utilize Cryptocurrencies and NFTs with the plans via the use of trademark rights. However, the Tweet doesn’t mention anything about the Metaverse plan of LG company but still some media reports claimed the LG may step in Metaverse also because NFTs is only a small gateway to enter in Metaverse and this giant electronic company may contribute huge.
Earlier this, LG confirmed that it was working with artist Refik Anadol to display NFT artwork on the company’s transparent OLED TVs. This is not the first time when any electronic company showed significant interest in NFTs & Metaverse but already Korean electronic giant Samsung filed for Metaverse & NFTs related trademarks. At that time, Samsung planned to provide NFTs trade support directly on its TV units.
Metaverse & NFTs practical applications
According to available reports about the expected model of Metaverse-based projects, it will be helpful for big companies, where employees will be able to do meetings easily by sitting at different places. But for now, such Metaverse-based projects are far from reality, so here we can’t exactly expect much from Metaverse.
Crypto NFTs-based concepts grabbed huge traction in the crypto industry and still, the NFTs trend is active with a small downturn in interest.
Few crypto proponents supported the development works to bring NFTs & blockchain technology use cases into real life, where people can show the ownership of their physical properties via NFTs.