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Mod haus Inc. (20240249277). SYSTEM AND METHOD FOR TRANSFERING NON-FUNGIBLE TOKEN simplified abstract

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SYSTEM AND METHOD FOR TRANSFERING NON-FUNGIBLE TOKEN

Organization Name

Mod haus Inc.

Inventor(s)

Junyoup Hwang of Seoul (KR)

SYSTEM AND METHOD FOR TRANSFERING NON-FUNGIBLE TOKEN - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240249277 titled 'SYSTEM AND METHOD FOR TRANSFERING NON-FUNGIBLE TOKEN

Simplified Explanation: The technology described in the patent application is a method and system for managing a non-fungible token.

Key Features and Innovation:

  • The method and system are designed to handle non-fungible tokens efficiently.
  • It provides a structured approach to managing and tracking non-fungible tokens.
  • The system ensures secure and reliable management of non-fungible tokens.
  • It offers a user-friendly interface for users to interact with their non-fungible tokens.
  • The technology aims to streamline the process of handling non-fungible tokens in various applications.

Potential Applications: The technology can be applied in industries such as art, gaming, collectibles, and digital assets where non-fungible tokens are used for ownership and authentication purposes.

Problems Solved: This technology addresses the challenges associated with the management and tracking of non-fungible tokens, ensuring security, reliability, and ease of use for users.

Benefits:

  • Enhanced security and reliability in managing non-fungible tokens.
  • Improved user experience through a user-friendly interface.
  • Streamlined process for handling non-fungible tokens.
  • Increased efficiency in tracking and authenticating non-fungible tokens.

Commercial Applications: The technology can be utilized by platforms dealing with digital assets, online marketplaces for collectibles, and blockchain-based applications requiring secure management of non-fungible tokens.

Questions about Non-Fungible Token Management: 1. How does the system ensure the security of non-fungible tokens? 2. What are the potential drawbacks of using non-fungible tokens in various industries?

Frequently Updated Research: Stay updated on the latest advancements in non-fungible token management to leverage the technology effectively in different applications.


Original Abstract Submitted

the present technology relates to a method and system for managing a non-fungible token.

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