20240037687. LOTTERY DRAWING METHOD FOR MULTIPLE NFT PRIZES AND THE NFT LOTTERY SYSTEM THEREOF simplified abstract (Crypto Sweepstakes LLC)

From WikiPatents
Jump to navigation Jump to search

LOTTERY DRAWING METHOD FOR MULTIPLE NFT PRIZES AND THE NFT LOTTERY SYSTEM THEREOF

Organization Name

Crypto Sweepstakes LLC

Inventor(s)

Christopher Todd Godwin of Oviedo FL (US)

LOTTERY DRAWING METHOD FOR MULTIPLE NFT PRIZES AND THE NFT LOTTERY SYSTEM THEREOF - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240037687 titled 'LOTTERY DRAWING METHOD FOR MULTIPLE NFT PRIZES AND THE NFT LOTTERY SYSTEM THEREOF

Simplified Explanation

The present invention is a lottery drawing method and system for multiple NFT (Non-Fungible Token) prizes. The system includes an ID generator, a comparing processor, and a notifying processor.

  • The ID generator randomly generates a first wallet ID, a first blockchain ID, a second wallet ID, and a second blockchain ID.
  • The comparing processor compares the second wallet ID and the second blockchain ID with the first wallet ID and the first blockchain ID to determine if there is a win.
  • The notifying processor informs the user whether there is a win and what NFT prize is won.

Potential applications of this technology:

  • Online gambling platforms can use this system to offer NFT-based lottery games, providing users with a chance to win unique digital assets.
  • Companies or organizations can use this system for promotional campaigns, offering NFT prizes to engage and reward their customers or participants.

Problems solved by this technology:

  • Traditional lottery systems may have limitations in terms of transparency and fairness. This NFT lottery system utilizes blockchain technology to ensure a transparent and tamper-proof drawing process.
  • The system simplifies the process of conducting NFT-based lottery games, making it quick and easy for users to participate and potentially win prizes.

Benefits of this technology:

  • Users can participate in NFT-based lottery games and have a chance to win unique digital assets, adding excitement and entertainment value.
  • The use of blockchain technology ensures transparency and fairness in the drawing process, enhancing trust and credibility.
  • The system provides a convenient and efficient way for users to engage in NFT-based lottery games, eliminating the need for manual ticket purchases and physical drawings.


Original Abstract Submitted

the present invention provides a lottery drawing method for multiple nft prizes and the nft lottery system thereof. the nft system comprising an id generator, a comparing processor, and a notifying processor. the id generator can randomly generate a first wallet id, a first blockchain id, a second wallet id and a second blockchain id. the comparing processor can compare the second wallet id and the second blockchain id with the first wallet id and the first blockchain id, to see if there is a win. the notifying processor can inform the user whether there is a win and what nft prize is won. by using this lottery drawing method and the system, the user can quickly and simply carry out the nft-based lottery game.

Retrieved from "http://wikipatents.org/index.php?title=20240037687._LOTTERY_DRAWING_METHOD_FOR_MULTIPLE_NFT_PRIZES_AND_THE_NFT_LOTTERY_SYSTEM_THEREOF_simplified_abstract_(Crypto_Sweepstakes_LLC)&oldid=30831"