20240037618. SYSTEM AND PLATFORM FOR CREATING AND MANAGING FRACTIONALIZED NON-FUNGIBLE TOKENS simplified abstract (Unknown Organization)

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SYSTEM AND PLATFORM FOR CREATING AND MANAGING FRACTIONALIZED NON-FUNGIBLE TOKENS

Organization Name

Unknown Organization

Inventor(s)

DILLON JAMES Korpman of NASHVILLE TN (US)

SYSTEM AND PLATFORM FOR CREATING AND MANAGING FRACTIONALIZED NON-FUNGIBLE TOKENS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240037618 titled 'SYSTEM AND PLATFORM FOR CREATING AND MANAGING FRACTIONALIZED NON-FUNGIBLE TOKENS

Simplified Explanation

The abstract of the patent application describes a system and platform for dividing or fractionalizing a non-fungible token (NFT), which is a unique digital asset stored on a digital ledger. The system allows for the creation of a "pie NFT" in a divisible format, enabling the sale, transfer, and purchase of portions of the NFT. A platform is created to organize and store data about one or more pie NFTs.

  • The system enables the fractionalization of non-fungible tokens (NFTs).
  • It allows for the creation of "pie NFTs" that can be divided into separate "pie slices".
  • The platform organizes and stores data about the pie NFTs, potentially in a database.

Potential Applications:

  • Fractional ownership of high-value NFTs, allowing multiple individuals to invest in and own a portion of the asset.
  • Increased liquidity for NFTs, as smaller portions can be bought and sold more easily.
  • Creation of investment opportunities in the NFT market, where individuals can buy and sell fractions of valuable NFTs.

Problems Solved:

  • Lack of liquidity in the NFT market, as whole NFTs can be expensive and difficult to sell.
  • Limited access to high-value NFTs, as they may be out of reach for individual investors.
  • Inability to invest in NFTs without committing to the full value of the asset.

Benefits:

  • Increased accessibility to the NFT market, allowing more individuals to participate and invest.
  • Enhanced liquidity, enabling easier buying and selling of NFTs.
  • Potential for fractional ownership of valuable NFTs, providing investment opportunities for a wider range of individuals.


Original Abstract Submitted

a system and platform for dividing or fractionalizing a non-fungible token (nft). an nft is a unit of data stored of a digital ledger (e.g., blockchain) that certifies a digital asset to be unique and thus not interchangeable. the system provides for the creation or minting of a “pie nft” in a divisible format, which allows for the ability to sell, transfer, and/or purchase some or all of the nft. a pie nft thus is fractionalized or divided into separate “pie slices.” a platform is created to organize and store data (such as in a database) about one or more pie nfts.

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