DK Crown Holdings Inc. (20240216820). AUTOMATIC GENERATION OF NON-FUNGIBLE TOKEN ATTRIBUTES simplified abstract

AUTOMATIC GENERATION 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)

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

This abstract first appeared for US patent application 20240216820 titled 'AUTOMATIC GENERATION OF NON-FUNGIBLE TOKEN ATTRIBUTES

The patent application describes systems and methods for maintaining contests involving non-fungible tokens (NFTs), determining tie outcomes, and establishing a placeholder.

• NFTs with attributes are stored on a blockchain and associated with player profiles.
• Contest participants select NFTs based on selection rules to enter a contest.
• A fantasy sports lineup is generated with NFTs, each with modified restriction conditions.
• Tie outcomes are determined by calculating edition number totals to declare a winner.
• Transferred NFTs are tracked in player profiles, and a placeholder can replace missing NFTs.

1. 1. 1. Potential Applications:

This technology can be applied in fantasy sports contests, online gaming tournaments, and digital collectibles platforms.

1. 1. 1. Problems Solved:

The system addresses the need for fair tie resolution in contests involving NFTs and provides a way to track and manage NFT ownership.

1. 1. 1. Benefits:

- Enhances user engagement in contests with unique NFT-based gameplay - Ensures transparent and efficient tie resolution processes - Facilitates secure and decentralized management of NFT assets

1. 1. 1. Commercial Applications:

Title: "Enhancing User Experience in Fantasy Sports Contests with NFT Technology" This technology can be utilized by fantasy sports platforms to attract more users, increase user retention, and potentially create new revenue streams through NFT sales and transactions.

1. 1. 1. Prior Art:

Readers interested in prior art related to this technology can explore existing patents in the fields of blockchain-based gaming, NFT management systems, and fantasy sports platforms.

1. 1. 1. Frequently Updated Research:

Stay updated on the latest developments in blockchain technology, NFT innovations, and fantasy sports industry trends to leverage this technology effectively.

1. 1. 1. 1. Questions about NFT-based Contest Systems:

1. How do NFTs enhance the user experience in fantasy sports contests?

  - NFTs add a unique element of ownership and scarcity to player selections, increasing user engagement and excitement.

2. What are the potential challenges in implementing NFT-based contest systems?

  - Challenges may include scalability issues with blockchain transactions, regulatory concerns around NFTs, and ensuring fair gameplay for all participants.

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 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 modifying a restriction condition for each nft. the system can determine that an outcome of a contest indicates a tie and calculating 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 first lineup to include a placeholder in lieu of an nft.