- Number
- 20230106344
- Published
- 2023-04-06
- Filed
- 2022-10-03
- Assignee
- Disney Enterprises, Inc.
- Inventors
- Eivy; Adam D. et al.
- CPC
- G06Q20/1235
- Verdict
- Set aside NFT/blockchain, business
- Source
- Google Patents · FreePatentsOnline
Abstract
According to one exemplary implementation, a system includes a hardware processor and a system memory storing software code, the hardware processor is configured to execute the software code to provide a non-fungible token (NFT) for transfer of a right to the NFT, the NFT minted to include first metadata providing a historical rights record of the NFT, the historical rights record identifying a present owner of the right to the NFT. The hardware processor is further configured to execute the software code to receive transfer data relating to the transfer of the right to the NFT by the present owner to a new owner of the right to the NFT, re-mint the NFT to further include second metadata relating to the transfer data in the historical rights record, the second metadata identifying the new owner, and deliver the re-minted NFT, including the first and second metadata, to the new owner.
Background
BACKGROUND
Existing non-fungible token (NFT) blockchains hold ownership history within a blockchain transactional database, which records each transaction as it occurs, but has no way of providing comprehensive ownership history for an NFT in response to a single query. As a result, a participant in an NFT marketplace must typically utilize a third-party aggregator that has monitored and cached the history of an NFT by playing forward the transactions of the blockchain. This requires external computation and storage by a trusted third party, rather than the more desirable use of a decentralized cache of the historical ownership chain in a way that a user or service can immediately observe and verify with a single query.
One consequence of the absence of readily accessible historical ownership data is that it fails to incentivize NFT transactions. That is to say, in the existing marketplace for NFT transactions, NFT market platforms pay out a share of NFT sales transactions to the platform itself as a maintenance fee, and may pay out a share to the creator as a royalty fee. The seller of the NFT receives the remainder of sales funds and loses ownership of the NFT. The NFT is then removed from the digital wallet belonging to the seller, who receives no ongoing value for being an early adopter of the NFT. This state of affairs tends to encourage NFT owners to act as collectors and to display their owned NFTs in a gallery in order to showcase their collection, but p
Claims
1. A system comprising: a hardware processor and a system memory storing a software code; the hardware processor configured to execute the software code to: provide a non-fungible token (NFT) for a transfer of a right to the NFT, the NFT minted to include first metadata providing a historical rights record of the NFT, the historical rights record identifying a present owner of the right to the NFT; receive transfer data relating to the transfer of the right to the NFT by the present owner of the right to the NFT to a new owner of the right to the NFT; re-mint the NFT to provide a re-minted NFT that further includes second metadata relating to the transfer data in the historical rights record of the NFT the second metadata identifying the new owner of the right to the NFT; and deliver the re-minted NFT, including the first metadata and the second metadata, to the new owner of the right to the NFT. ||
4. The system of claim wherein the transfer of the right to the NFT is governed by a smart contract. ||
8. A method for use by a system including a hardware processor and a system memory storing a software code, the method comprising: providing, by the software code executed by the hardware processor, a non-fungible token (NFT) for a transfer of a right to the NFT, the NFT minted to include first metadata providing a historical rights record of the NFT, the historical rights record identifying a present owner of the right to the NFT; receiving, by the software code executed by the hardware processor, transfer data relating to the transfer of the NFT by the present owner of the right to the NFT to a new owner of the right to the NFT; re-minting the NFT, by the software code executed by the hardware processor, to further include second metadata relating to the transfer data in the historical rights record of the NFT, the second metadata identifying the new owner of the right to the NFT; and delivering, by the software code executed by the hardware processor, the re-minted NFT, including the first metadata and the second metadata, to the new owner of the right to the NFT. ||
15. A computer-readable non-transitory storage medium having stored thereon a software code, which when executed by a hardware processor, instantiates a method comprising: providing a non-fungible token (NFT) for a transfer of a right to the NFT, the NFT minted to include first metadata providing a historical rights record of the NFT, the historical rights record identifying a present owner of the right to the NFT; receiving transfer data relating to the transfer of the NFT by the present owner of the right to the NFT to a new owner of the right to the NFT; re-minting the NFT to further include second metadata relating to the transfer data in the historical rights record of the NFT, the second metadata identifying the new owner of the right to the NFT; and delivering the re-minted NFT, including the first metadata and the second metadata, to the new owner of the right to the NFT.