20240020719. NFT AND VIRTUAL CURRENCY PURCHASE SYSTEM AND METHOD USING POINTS simplified abstract (MinesSoft, Inc.)

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NFT AND VIRTUAL CURRENCY PURCHASE SYSTEM AND METHOD USING POINTS

Organization Name

MinesSoft, Inc.

Inventor(s)

Hyojoeng Kim of Seongnam-si (KR)

NFT AND VIRTUAL CURRENCY PURCHASE SYSTEM AND METHOD USING POINTS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240020719 titled 'NFT AND VIRTUAL CURRENCY PURCHASE SYSTEM AND METHOD USING POINTS

Simplified Explanation

The present invention is a system and method for purchasing NFTs (non-fungible tokens) and virtual currency using points obtained from brands, stores, and apps. The system allows users to use their accumulated points to buy NFTs and virtual currency, which can then be used as a form of payment at stores.

  • The invention enables the purchase of NFTs and virtual currency using points obtained from various sources.
  • Users can accumulate points from brands, stores, and apps and use them to buy NFTs and virtual currency.
  • The purchased NFTs and virtual currency can be used as a form of payment at stores.
  • The system provides a simplified and convenient method for users to acquire NFTs and virtual currency.

Potential applications of this technology:

  • This system can be implemented by brands, stores, and apps to incentivize customer loyalty by offering points that can be used to purchase NFTs and virtual currency.
  • It can be used in online marketplaces or platforms that deal with NFTs and virtual currency, providing users with an alternative payment method.
  • The system can be integrated into gaming platforms, allowing players to use their accumulated points to acquire in-game NFTs or virtual currency.

Problems solved by this technology:

  • The system solves the problem of limited payment options for purchasing NFTs and virtual currency by introducing a points-based payment system.
  • It addresses the issue of customer loyalty by providing a reward system where points can be earned and used to acquire valuable digital assets.
  • The system simplifies the process of acquiring NFTs and virtual currency by utilizing points obtained from various sources.

Benefits of this technology:

  • Users can easily acquire NFTs and virtual currency without the need for traditional payment methods.
  • The system incentivizes customer loyalty by offering points that can be redeemed for valuable digital assets.
  • It provides a flexible and convenient payment option for users, allowing them to use their accumulated points as a form of payment at stores.


Original Abstract Submitted

the present invention relates to nft and virtual currency purchasing system using points and the method thereof, and more particularly, to nft and virtual currency purchasing system using points and the method thereof, which can make the nft and virtual currency be purchased by the points obtained from brands, stores, and apps and can make the purchased nft and virtual currency be paid at stores.

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