Distributed Asset Redemption

Number: 20230297345
Published: 2023-09-21
Filed: 2023-02-17
Assignee: Disney Enterprises, Inc.
Inventors: Khalfan; Alif et al.
CPC: G06F21/10; G06F21/44; G06F21/64; G06Q20/065; G06Q20/123; G06Q20/1235; G06Q20/36; G06Q20/38215; G06Q20/389; G06Q30/0207
Verdict: Set aside NFT/digital-asset redemption, business
Source: Google Patents · FreePatentsOnline

Abstract

According to one implementation, a system includes a hardware processor and a memory storing software code. The hardware processor executes the software code to receive ownership data identifying a unique digital identifier conferring ownership, by a user, of an asset awarded by a first entity, confirm, using the unique digital identifier, ownership of the asset by the user, and verify, using the unique digital identifier, that a second entity is an authorized asset redemption partner of the first entity. The hardware processor further executes the software code to enable, using the unique digital identifier and in response to confirming and verifying, the user to redeem the asset awarded by the first entity from the second entity via transfer from a first digital wallet linked to the first entity to a second digital wallet linked to the second entity, either automatically or in response to an authentication performed by the user.

Background

BACKGROUND

The use of unique digital identifiers, such as the technology known as non-fungible token (NFTs) for example, allows individual artists and companies to sell ownership rights to a digital asset, such as a file containing a photo or other image, video, audio, or any other desirable digital representation of a real or virtual object. However, there is presently no mechanism by which a unique digital identifier generated by a first entity can be used directly to obtain an asset associated with that unique digital identifier from a second entity. That is to say, in the case of NFTs for example, an entitlement to an asset conferred by an NFT issued by one NFT source typically cannot be redeemed on an NFT platform of an entity other than that same NFT source. Instead, if a first entity wants to award an NFT based asset obtainable from a second entity, the first entity typically has to allow for an authorized NFT that features the asset conferred by the first entity to be minted by the second entity. As a result, the existing unique digital identifier-based transaction environment tends to undesirably limit consumer choice.

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: receive ownership data identifying a unique digital identifier conferring ownership, by a user, of an asset awarded to the user by a first entity; confirm, using the unique digital identifier, the ownership of the asset by the user; verify, using the unique digital identifier, that a second entity is an authorized asset redemption partner of the first entity; and enabling, using the unique digital identifier and in response to confirming and verifying, the user to redeem the asset awarded by the first entity from the second entity via transfer from a first digital wallet linked to the first entity to a second digital wallet linked to the second entity, either automatically or in response to an authentication performed by the user. || 11. A method for use by a system including a hardware processor and a system memory storing a software code, the method comprising: receiving, by the software code executed by the hardware processor, ownership data identifying a unique digital identifier conferring ownership, by a user, of an asset awarded to the user by a first entity; confirming, by the software code executed by the hardware processor and using the unique digital identifier, the ownership of the asset by the user; verifying, by the software code executed by the hardware processor and using the unique digital identifier; that a second entity is an authorized asset redemption partner of the first entity; and enabling, by the software code executed by the hardware processor, using the unique digital identifier and in response to confirming and verifying, the user to redeem the asset awarded by the first entity from the second entity via transfer from a first digital wallet linked to the first entity to a second digital wallet linked to the second entity, either automatically or in response to an authentication performed by the user.