Systems and methods for fractionalizing a collectible into blockchain tokens
AssigneeFraction Motors, LLC
InventorJASON M. FISHER
Life of this patent
Estimating the term…
Abstract
An online blockchain platform that allows users to sell and purchase tokens stored on the blockchain that are associated with a particular collectible. These tokens reflect 100 percent ownership of the collectible and entitle the holders to certain rights relating to the collectible including a percentage of any future sale or insurance proceeds of the collectible. The tokens include descriptions and attributes of the collectible, media files including digital images and videos, insurance documents, and appraisal documents. Storage on the blockchain provides a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a decentralized network.
Claims17
A method of administering an online blockchain platform that allows users to purchase and sell tokens stored on a blockchain that are associated with a particular collectible asset, said blockchain providing a shared, immutable ledger that facilitates the process of recording transactions and tracking tokens of collectable assets in a decentralized network, comprising:
- providing a processing program for fractionalizing an asset into tokens and for enabling a market for purchase and sale of the tokens, the processing program providing a visual interface for use by a plurality of buyers and sellers for offering to sell and purchase tokens representing fractions of assets;
- providing at least one collectable asset for fractionalizing into tokens using the processing program, the at least one collectable asset owned by an asset owner;
- registering the at least one collectable asset with the processing program, registering including:
- fractionizing a plurality of blockchain tokens reflecting one hundred percent ownership of the collectible asset, the tokens entitling holders of the tokens to rights in a future disposition of the collectible asset, including a proportionate percentage of any future sale or insurance proceeds of the collectible asset.
Dependencies are inferred from the claim text.