# US 12,223,483 B2 · Tokenization platform

> Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt

- Number: US 12,223,483 B2
- Document ID: US12223483B2
- Status: Granted
- Kind: B2
- Application number: 17/521,007
- Filed: 2021-11-08
- Published: 2022-02-24
- Granted: 2025-02-11
- Earliest claimed: 2018-11-02
- Assignees: Verona Holding Sezc
- Applicants: Verona Holdings Sezc
- Inventors: Jonathan Yantis; William Edward Quigley; Lukasz Jakub Sliwka
- Web page: https://patentgrep.com/patent/US12223483B2

## CPC

- G06Q 20/123: {Shopping for digital content}
- G06F 21/602: {Providing cryptographic facilities or services}
- G06F 21/64: Protecting data integrity, e.g. using checksums, certificates or signatures
- G06Q 20/065: {using e-cash}
- G06Q 20/326: {Payment applications installed on the mobile devices}
- G06Q 20/342: {Cards defining paid or billed services or quantities}
- G06Q 20/3676: {Balancing accounts}
- G06Q 20/38215: {Use of certificates or encrypted proofs of transaction rights}
- G06Q 20/387: {Payment using discounts or coupons (relating to marketing G06Q30/02)}
- G06Q 20/389: {Keeping log of transactions for guaranteeing non-repudiation of a transaction}
- G06Q 20/40: Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
- G06Q 20/4016: {involving fraud or risk level assessment in transaction processing}
- G06Q 20/405: {Establishing or using transaction specific rules}
- G06Q 30/0185: {Product, service or business identity fraud}
- H04L 9/50: {using hash chains, e.g. blockchains or hash trees}
- G06Q 20/1235: {with control of digital rights management [DRM]}
- G06Q 20/3672: {initialising or reloading thereof}
- G06Q 2220/00: Business processing using cryptography
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06F: ELECTRIC DIGITAL DATA PROCESSING (computer systems based on specific computational models G06N)
- H04L: TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION (arrangements common to telegraphic and telephonic communication H04M)

## Abstract

A tokenization system that facilitates token-based trades of items is disclosed. The system includes a token generation system that generates digital tokens that are cryptographically linked to respective item identifiers of respective items. The system includes a ledger update system that writes the digital tokens to a cryptographic ledger and updates ownership data thereof to reflect respective owners of the digital tokens. The system also includes a trading system that facilitates non-monetary exchange of the items using the digital tokens, whereby a transfer system initiates a transfer of a second digital token to a first account of a first user and a second transfer of a first digital token to a second account of a second user on the cryptographic ledger in response to the trading system facilitating a trade of the first item and the second item between the first and second user.

## Claims

### Claim 1

A system for facilitating trading of tokenized items, comprising:
an interface configured to handle item identifiers of respective items, each respective item having a set of item attributes;
a token generation system configured to:
for each respective item:
generate a respective digital token that has a set of digital attributes that correspond to the set of item attributes of the respective item, wherein the respective digital token is cryptographically secure; and
generate a cryptographically secure, one-to-at-least-one link between the respective digital token and the respective item, such that the respective digital token provides a unique digital representation of the respective item;
a ledger update system configured to write the respective digital tokens to a cryptographic ledger in accordance with a protocol, thereby facilitating transactions for the respective items using the corresponding digital tokens, wherein the ledger update system updates the cryptographic ledger to reflect respective owners of the respective digital tokens;
a token trading system that facilitates a non-monetary exchange of a first item owned by a first user that is associated with a first digital token and a second item owned by a second user that is associated with a second digital token items between users, the first item being a real-world item and the first digital token being redeemable for a right to possess the first item;
a transfer system configured to initiate a transfer of the second digital token to a first account of the first user and a second transfer of the first digital token to a second account of the second user on the cryptographic ledger in response to the token trading system facilitating the non-monetary exchange, wherein the first digital token indicates ownership of the first item and the second digital token indicates ownership of the second item; and
a redemption system that facilitates redemption of digital tokens, the redemption system being configured to:
receive a redemption request associated with the first digital token and an account identifier that indicates the second account of the second user, and
initiate fulfillment of the first item to the second user in response to verifying that the first digital token is owned by the second user based on the account identifier and the cryptographic ledger.

### Claim 2 (depends on 1)

The system of claim 1, wherein the cryptographic ledger is a distributed ledger.

### Claim 3 (depends on 2)

The system of claim 2, wherein the distributed ledger is a blockchain.

### Claim 4 (depends on 3)

The system of claim 3, wherein the blockchain is a public blockchain.

### Claim 5 (depends on 3)

The system of claim 3, wherein the blockchain is a private blockchain.

### Claim 6 (depends on 1)

The system of claim 1, further comprising a digital marketplace system that provides a user interface that allows users to transact for respective units of items, wherein the digital marketplace is configured to facilitate transactions for the items using digital tokens that are cryptographically linked with virtual representations of the items, wherein the digital tokens include the first digital token and the second digital token.

### Claim 7 (depends on 6)

The system of claim 6, wherein the first item is a consumer product that was initially purchased by the first user via the digital marketplace system, and the first digital token is cryptographically linked with a virtual representation of a unique unit of the consumer product.

### Claim 8 (depends on 7)

The system of claim 7, wherein the first digital token was assigned to the first account of the first user in response to the first user transacting for the consumer product via the digital marketplace system.

### Claim 9 (depends on 7)

The system of claim 7, wherein the consumer product was already in existence.

### Claim 10 (depends on 7)

The system of claim 7, wherein the consumer product has a defined type and a defined set of characteristics but was not yet in existence at the time of the first user transacting for the consumer product.

### Claim 11 (depends on 6)

The system of claim 6, further comprising an item management system configured to generate a virtual representation of the first item based on the set of item attributes corresponding thereto, wherein the user interface allows consumers to view a visualization of the virtual representation of the first item.

### Claim 12 (depends on 11)

The system of claim 11, wherein the visualization of the virtual representation of the first item comprises a virtual or augmented reality visualization of the first item.

### Claim 13 (depends on 1)

The system of claim 1, wherein the first item is a consumer product and the first digital token is a non-fungible token that is cryptographically linked with a virtual representation of a unique unit of the consumer product.

### Claim 14 (depends on 1)

The system of claim 1, wherein the first item is a fungible consumer product and the first digital token is a copy of a fungible token that is cryptographically linked with a virtual representation of the fungible consumer product.

### Claim 15 (depends on 1)

The system of claim 1, wherein each of the first item and the second item is a respective unique instance of a respective digital asset and each of the first digital token and the second digital token is a respective non-fungible token that is cryptographically linked with the respective unique instance of the respective digital asset.

### Claim 16 (depends on 1)

The system of claim 1, wherein each of the first item and the second item is a respective unique instance of a respective gift card and each of the first digital token and the second digital token is a respective non-fungible token that is cryptographically linked with the respective unique instance of the respective gift card.

### Claim 17 (depends on 1)

The system of claim 1, wherein the first item is a nonfungible consumer product and the first digital token is a copy of a fungible token that is cryptographically linked with a virtual representation of the fungible consumer product.

### Claim 18 (depends on 1)

The system of claim 1, wherein the trading system creates a smart contract that governs the trading of the first digital token and the second digital token.

### Claim 19 (depends on 1)

The system of claim 1, wherein the token trading system presents a graphical user interface that facilitates the trading of the first digital token and the second digital token.

### Claim 20 (depends on 1)

The system of claim 1, wherein the set of item attributes of the item includes a set of physical attributes.

### Claim 21 (depends on 1)

The system of claim 1, wherein the set of item attributes of the item includes a set of origination attributes.

### Claim 22 (depends on 21)

The system of claim 21, wherein the set of origination attributes includes limited edition attributes.

### Claim 23 (depends on 21)

The system of claim 21, wherein the set of origination attributes includes celebrity signature attributes.

### Claim 24 (depends on 21)

The system of claim 21, wherein the set of origination attributes includes certification of originality attributes.

### Claim 25 (depends on 21)

The system of claim 21, wherein the set of origination attributes includes location of origin attributes.

### Claim 26 (depends on 21)

The system of claim 21, wherein the set of origination attributes includes certification of ethical production attributes.

### Claim 27 (depends on 1)

The system of claim 1, wherein the set of digital attributes of the first digital token includes a data structure that represents the physical attributes of the item.

### Claim 28 (depends on 1)

The system of claim 1, wherein the set of digital attributes of the first digital token includes a data structure that supports a visual representation of the item including one or more of an image of the item, a video of the item, or an animation of the item.

### Claim 29 (depends on 1)

The system of claim 1, wherein possession of the first token represents ownership of the first item.