DK Crown Holdings Inc. (20240216819). AUTOMATIC PROCESSING OF NON-FUNGIBLE TOKEN ATTRIBUTES simplified abstract

AUTOMATIC PROCESSING OF NON-FUNGIBLE TOKEN ATTRIBUTES

Organization Name

DK Crown Holdings Inc.

Inventor(s)

Peter Arthur Leondires of Boston MA (US)

Andrew John Botelho of Norton MA (US)

Kenneth Scott Bacon of Lakeville MA (US)

Corey Batt of New York NY (US)

AUTOMATIC PROCESSING OF NON-FUNGIBLE TOKEN ATTRIBUTES - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240216819 titled 'AUTOMATIC PROCESSING OF NON-FUNGIBLE TOKEN ATTRIBUTES

The patent application describes systems and methods for maintaining contests involving non-fungible tokens (NFTs), identifying tie outcomes, and implementing a placeholder. NFTs with attributes can be stored on a blockchain and associated with player profiles.

• NFTs can be selected for contest entry based on specific rules and used to create fantasy sports lineups.
• Tie outcomes in contests can be resolved by calculating edition number totals to determine a winner.
• Transfers of NFTs to player profiles can be tracked and placeholders can be used in lineups when necessary.

1. 1. 1. Potential Applications:

This technology can be applied in fantasy sports contests, online gaming competitions, and collectible card games.

1. 1. 1. Problems Solved:

The system addresses the need for a fair resolution in tie outcomes, efficient tracking of NFT transfers, and seamless lineup modifications.

1. 1. 1. Benefits:

- Enhances user experience in contests - Ensures transparent and accurate results - Facilitates easy management of NFTs in competitions

1. 1. 1. Commercial Applications:

"Enhancing User Experience in Fantasy Sports Contests with NFT Technology"

1. 1. 1. Prior Art:

Researchers can explore prior patents related to NFTs in gaming and sports competitions to understand the evolution of this technology.

1. 1. 1. Frequently Updated Research:

Stay updated on advancements in blockchain technology and NFT integration in various industries for potential improvements in contest management.

1. 1. 1. 1. Questions about NFT Technology:

1. How does the system handle tie outcomes in contests involving NFTs? 2. What are the key benefits of using NFTs in fantasy sports competitions?

Original Abstract Submitted

systems and methods for maintaining contests including non-fungible tokens (nfts), determining that an outcome of a contest indicates a tie, and establishing a placeholder are disclosed. the nfts can be associated with attributes and may be stored on a blockchain. the system can receive a request and selections of nfts for entering a contest. each nft can be associated with a player profile and satisfy a selection rule. the system can generate a fantasy sports lineup including nfts and modify a restriction condition for each nft. the system can determine that an outcome of a contest indicates a tie and calculate edition number totals to determine a winner of the tie. the system can determine that an nft has been transferred to a player profile. the system can modify a lineup to include a placeholder in lieu of the nft.