LG Electronics' latest partnership seeks to bring interoperable metaverse platforms to TVs

Published at: Jan. 4, 2023

South Korean tech giant LG Electronics announced that it has teamed up with Oorbit, a cloud-based technology platform and PIXELYNX, a company building an integrated music, gaming, and Web3 ecosystem, to bring the metaverse directly into the living rooms of viewers.

Announced just in time for #CES2023, we’re excited to announce that we have partnered with @LGElectronics to bring interoperable gaming and social experiences directly to your LG Smart TVs.READ: https://t.co/nppJZe650B

— Oorbit (@OorbitOnline) January 4, 2023

The collaboration is set to allow viewers to be able to explore interconnected virtual worlds, concerts, and AI multiplayer games through their LG TVs, making it easier for consumers to interact in the Metaverse. 

According to the Jan 4. press release sent to Cointelegraph, users will be able to access “super high fidelity interconnected virtual worlds” and experiences including virtual concerts and AI generative multiplayer games. 

Pooya Koosha, the chief technology officer and Oorbit co-founder shared: 

“Our proprietary technology is the connective tissue that links virtual worlds together and makes it easy for developers and brands to bring their experiences into the metaverse. Scaling our technology for millions of LG TV customers is the next step in making the metaverse accessible for all.” 

Related: An overview of the metaverse in 2022

In Dec. 2022, Cointelegraph reported that digital entertainment, blockchain, and gamification company Animoca Brands, had secured a majority stake in the Los Angeles-based music Metaverse gaming platform, PIXELYNX. 

In March 2022,  LG Electronics also officially updated its business development goals to include cryptocurrency and blockchain-based software. A local South Korean news platform reported that LG had added two distinct crypto-related objectives during its annual general meeting. The objectives included “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency.” 

Tags
Decentralization
Technology
Blockchain
Business
Web3
Metaverse
Consumer Tech
Related Posts
Blockchain and NFTs are changing the publishing industry
Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models. For example, the textbook publishing giant Pearson recently announced plans to use NFTs to track digital textbook sales to capture revenue lost on the secondary market. Time magazine, which was founded 99 years ago, has also been using NFTs to create new revenue streams, along with a sense of community …
Decentralization / Aug. 9, 2022
Redeeming physical NFTs: Easier said than done?
Despite the crypto winter, nonfungible tokens (NFTs) continue to draw interest. This has become apparent as many brands and retailers have started to offer digital NFTs attached to physical products. Known as “phygitals,” these offerings allow real-world products to be tied to digital NFTs. For example, RTFKT — a digital fashion and collectible company — recently launched a project called Cryptokicks iRL. According to sources, RTFKT is creating digitally-designed sneakers backed by a physical product. RTFKT’s official Twitter account recently tweeted that Lace Engine NFT holders will be able to reserve a pair of Cryptokicks iRL, which can then be …
Decentralization / Jan. 5, 2023
Chainlink integration means metaverse can truly reflect the real world
A decentralized platform on a quest to merge the physical and virtual world through augmented reality has unveiled a live, ongoing integration with Chainlink. OVR’s collaboration with the decentralized oracle network is already being put through its paces. Chainlink’s infrastructure is being used to fairly and transparently select a grant fund winner from a list of competitors taking part in the OVRLand Treasure Hunt. Looking ahead, OVR intends to ensure that Chainlink’s oracles are used throughout its platform as it builds a virtual experience that is influenced by the real world. Through this platform, augmented reality and virtual reality can …
Decentralization / June 18, 2021
Wear-to-earn NFTs target the billion-dollar fashion industry
The rise of the Metaverse and Web 3.0 are set to disrupt multiple sectors including the billion-dollar global fashion industry. As the world moves from physical to digital, traditional fashion design can transform into virtual wearables that can be leveraged in both augmented reality (AR) and in real life. Megan Kaspar, managing director at Magnetic Capital and member of Red DAO — a fashion-focused decentralized autonomous organization — told Cointelegraph she believes that digital fashion nonfungible tokens, or NFTs, will be the largest NFT category of Web 3.0: “Digital fashion NFTs include clothing, shoes, jewelry, accessories and more that can …
Adoption / Dec. 1, 2021
AI will help realize the true vision the Metaverse hopes to achieve
The metaverse space is moving rapidly in terms of hype and the volume of new projects being launched — so much so that the industry market size is projected to grow from $100.27 billion in 2022 to $1,527.55 billion by 2029. But how many of these new projects are even remotely capable of realizing the actual vision set out? We’re a long way from seeing a true metaverse Many of the metaverse projects that have been launched are in the world of gaming. However, more often than not, these projects simply consist of standard gaming features combined with virtual reality …
Adoption / July 10, 2022