INTERNATIONAL BUSINESS MACHINES CORPORATION (20240232877). NON-FUNGIBLE TOKEN (NFT)-DISTRIBUTED EVENTS FOR PEER-TO-PEER EXCHANGE simplified abstract

NON-FUNGIBLE TOKEN (NFT)-DISTRIBUTED EVENTS FOR PEER-TO-PEER EXCHANGE

Organization Name

INTERNATIONAL BUSINESS MACHINES CORPORATION

Inventor(s)

Zachary A. Silverstein of Georgetown TX (US)

Jacob Ryan Jepperson of St. Paul MN (US)

Melanie Dauber of Oceanside NY (US)

Jeremy R. Fox of Georgetown TX (US)

Logan Bailey of Atlanta GA (US)

NON-FUNGIBLE TOKEN (NFT)-DISTRIBUTED EVENTS FOR PEER-TO-PEER EXCHANGE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240232877 titled 'NON-FUNGIBLE TOKEN (NFT)-DISTRIBUTED EVENTS FOR PEER-TO-PEER EXCHANGE

Simplified Explanation:

This patent application describes a method, computer system, and computer program product for event NFT distribution. It involves generating unique non-fungible tokens (NFTs) for events registered by users, recording event information on a blockchain. Users can modify events and communicate with other NFT owners through a blockchain-based messaging protocol. The transfer of NFTs between users is recorded on the blockchain without confirmation from the provider.

• Key Features and Innovation:

   - Generation of unique NFTs for events registered by users.
   - Recording event information on a blockchain.
   - Identification of additional NFT owners for communication based on service provider criteria.
   - Establishment of blockchain-based messaging sessions between users and permitted additional NFT owners.
   - Recording NFT transfers on the blockchain without provider confirmation.

• Potential Applications:

   - Event ticketing and management.
   - Secure communication between event attendees.
   - Digital asset ownership verification.

• Problems Solved:

   - Ensuring the authenticity and ownership of event-related NFTs.
   - Facilitating secure communication between NFT owners.
   - Simplifying the process of transferring NFTs.

• Benefits:

   - Enhanced security and transparency in event NFT distribution.
   - Improved communication and collaboration among NFT owners.
   - Streamlined transfer process for NFTs.

• Commercial Applications:

   - Event management platforms.
   - Blockchain-based messaging services.
   - Digital asset marketplaces.

• Prior Art:

   - Researchers and developers can explore prior patents related to event NFT distribution, blockchain-based messaging protocols, and NFT ownership verification.

• Frequently Updated Research:

   - Stay informed about advancements in blockchain technology, NFT standards, and event management systems.

Questions about event NFT distribution: 1. How does this technology impact the event ticketing industry? 2. What are the potential challenges in implementing blockchain-based messaging for NFT owners?

2. Another relevant generic question, with a detailed answer.

Original Abstract Submitted

a method, computer system, and computer program product for event nft distribution is provided. the embodiment may include generating, in response to a user registering an event with a provider, a unique non-fungible token (nft), where the nft includes information associated with the event recorded on a blockchain. the embodiment may also include, responsive to receiving an indication from the user to modify the event, identifying additional nft owners that the user is permitted to communicate with over a blockchain-based messaging protocol, where the additional nft owners are identified based on a set of service provider criteria associated with the nft, and establishing a blockchain-based messaging session with the user and one or more of the permitted additional nft owners. the embodiment may further include, responsive to the user and an additional nft owner agreeing to transfer nfts, recording the transferred nfts on the blockchain without confirmation from the provider.