20240013195. ASSET-BACKED MARKETPLACE simplified abstract (Third Venture Partners, Inc.)

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ASSET-BACKED MARKETPLACE

Organization Name

Third Venture Partners, Inc.

Inventor(s)

Steven Osborn of Portland OR (US)

Brent Huigens of Tigard OR (US)

ASSET-BACKED MARKETPLACE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240013195 titled 'ASSET-BACKED MARKETPLACE

Simplified Explanation

The embodiments described in this patent application involve systems and methods for creating blockchain tokens that represent live assets stored in a vault. These tokens are called vault-backed title NFTs (Non-Fungible Tokens).

Here are the key points of the patent:

  • A server is responsible for verifying the live assets and minting vault-backed title NFTs to blockchain wallets.
  • The server uses software, such as a decentralized application (dapp) or a smart contract, to create the vault-backed title NFTs. These tokens are one-to-one representations of the live assets or can be a combination of title NFTs and a set of fungible access tokens.
  • The access tokens have a subset of privileges or rights derived from the title token.
  • The server also hosts an online marketplace where users can buy or sell the asset tokens (title NFTs or access tokens) or submit redemption requests to access the privileges or redeem the live assets.

Potential applications of this technology:

  • Tokenization of physical assets: This technology allows for the creation of digital tokens that represent physical assets, such as real estate, artwork, or collectibles. These tokens can be traded on the blockchain, providing liquidity and fractional ownership opportunities.
  • Securitization of assets: By tokenizing assets and creating vault-backed title NFTs, this technology enables the securitization of assets. This can be useful in creating investment opportunities and facilitating asset-backed lending.
  • Supply chain management: The use of blockchain tokens can help track and verify the authenticity of assets throughout the supply chain, ensuring transparency and reducing counterfeiting.

Problems solved by this technology:

  • Lack of liquidity for illiquid assets: By tokenizing live assets, this technology provides a way to trade and transfer ownership of traditionally illiquid assets, unlocking their value.
  • Trust and verification: The use of blockchain technology and the verification process performed by the server ensure the authenticity and ownership of the assets represented by the tokens.
  • Access to asset privileges: The creation of access tokens allows for the controlled access to specific privileges or rights associated with the live assets, providing flexibility and security.

Benefits of this technology:

  • Increased liquidity: Tokenizing assets and creating a marketplace for trading these tokens increases liquidity, allowing for easier buying and selling of assets.
  • Transparency and trust: The use of blockchain technology ensures transparency and immutability of asset ownership, reducing the need for intermediaries and increasing trust.
  • Fractional ownership: Tokenization enables fractional ownership of assets, allowing for broader participation and investment opportunities.


Original Abstract Submitted

embodiments described herein provide for systems and methods for generating blockchain tokens as tokenized versions of live assets stored in a vault. a server verifies live assets and mints vault-backed title nfts to blockchain wallets. the server executes software (e.g., dapp; smart contract) for minting a vault-backed title nft as uda token corresponding one-to-one with the live asset, or optionally as a set of coa tokens, including the title nft and a set of fungible access tokens having a subset of privileges or rights derived from the title token. the server hosts an online marketplace where users may purchase or sell the asset tokens (e.g., title nfts or the access tokens), or may submit redemption requests for triggering or accessing privileges afforded by the asset tokens or redeeming (“unchaining”) the live assets.

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