US 2023/0419283 A1Published application

Systems and Methods for Forming and Operating NFT Marketplace

OwnerKhoa Leinventor

Life of this patent

Estimating the term…

Loading patent…

Abstract

Systems, apparatuses, and methods to enable the formation and operation of a marketplace for non-fungible tokens. An NFT offered through the marketplace may be associated with underlying content. The underlying content may be one or more of an image, a photograph, an original work of art, a composition, a literary work, a recording, an item of manufacture, a motion picture, or a television program. The system provides a mechanism for multiple parties involved in the creation, production, ownership, distribution, exhibition, and use of content to have payments automatically routed from the appropriate paying party to the appropriate receiving party because of logic executed by a smart contract. This is particularly useful where underlying content may be the subject of different types of distribution, exhibition, and/or licensing agreements depending upon the nature of the content, the relevant intellectual property rights (such as copyrights), and the business model of the relevant industry.

Claims21

Dependent claims

A method of distributing revenue from a collaborative project, comprising:

receiving data from a user regarding a project and terms of a sale or licensing of content generated by the project;
processing the received data to generate a token representing the content, and to create one or more digital wallets, with one wallet created for each party that is identified by the user as being involved in a collaboration that generated the content;
processing the received data to generate a smart contract, the smart contract including a clause defining a state or condition that automatically results in an executed action;
distributing a portion of payments or revenue received from the sale, distribution, exhibition, or licensing of the content to one or more of the digital wallets, wherein the distribution is determined by the clause of the smart contract;
creating one or more records stored on a blockchain, the records including data regarding the payments or revenue received, and the party or parties to which the payments or revenue received have been distributed;
and
creating a user interface, wherein the user interface includes elements to enable the user to perform one or more of browsing, selecting, or previewing available content, accessing pricing for content, submitting a bid or offer for a right to content, viewing the payments or revenue generated by an item of content and how it has been distributed, or viewing a transaction history of the content.

4 more elements

A system for distributing revenue from a collaborative project, comprising:

one or more electronic processors;
an electronic non-transitory data storage element including a set of computer-executable instructions that, when executed by the one or more electronic processors, cause the system to
receive data from a user regarding a project and terms of a sale or licensing of content generated by the project;
process the received data to generate a token representing the content, and to create one or more digital wallets, with one wallet created for each party that is identified by the user as being involved in a collaboration that generated the content;
process the received data to generate a smart contract, the smart contract including a clause defining a state or condition that automatically results in an executed action;
distribute a portion of payments or revenue received from the sale, distribution, exhibition, or licensing of the content to one or more of the digital wallets, wherein the distribution is determined by the clause of the smart contract;
create one or more records stored on a blockchain, the records including data regarding the payments or revenue received, and the party or parties to which the payments or revenue received have been distributed;
and
create a user interface, wherein the user interface includes elements to enable the user to perform one or more of browsing, selecting, or previewing available content, accessing pricing for content, submitting a bid or offer for a right to content, viewing the payments or revenue generated by an item of content and how it has been distributed, or viewing a transaction history of the content.

6 more elements

One or more non-transitory computer-readable media comprising a set of computer-executable instructions that when executed by one or more programmed electronic processors, cause the processors to:

receive data from a user regarding a project and terms of a sale or licensing of content generated by the project;
process the received data to generate a token representing the content, and to create one or more digital wallets, with one wallet created for each party that is identified by the user as being involved in a collaboration that generated the content;
process the received data to generate a smart contract, the smart contract including a clause defining a state or condition that automatically results in an executed action;
distribute a portion of payments or revenue received from the sale, distribution, exhibition, or licensing of the content to one or more of the digital wallets, wherein the distribution is determined by the clause of the smart contract;
create one or more records stored on a blockchain, the records including data regarding the payments or revenue received, and the party or parties to which the payments or revenue received have been distributed;
and
create a user interface, wherein the user interface includes elements to enable the user to perform one or more of browsing, selecting, or previewing available content, accessing pricing for content, submitting a bid or offer for a right to content, viewing the payments or revenue generated by an item of content and how it has been distributed, or viewing a transaction history of the content.

4 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/850,374Filed 27 Jun 2022
Published: 28 Dec 2023
Term ends: Not estimatedThe source records don’t support an estimate.

Classification9 codes

G06Q 20/1235
Shopping for digital content: with control of digital rights management [DRM]
G06Q 20/065
Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme: using e-cash
G06Q 20/102
Specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems: bill distribution or payments
G06Q 20/36
Characterised by the use of specific devices or networks: using electronic wallets or electronic money safes