EBay Inc. (20240346504). LOCATION-BASED SYSTEMS AND TECHNIQUES FOR MINTING NON-FUNGIBLE TOKENS (NFTS) simplified abstract
Contents
LOCATION-BASED SYSTEMS AND TECHNIQUES FOR MINTING NON-FUNGIBLE TOKENS (NFTS)
Organization Name
Inventor(s)
Ethan Benjamin Rubinson of San Jose CA (US)
Andrew Chalkley of San Jose CA (US)
LOCATION-BASED SYSTEMS AND TECHNIQUES FOR MINTING NON-FUNGIBLE TOKENS (NFTS) - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240346504 titled 'LOCATION-BASED SYSTEMS AND TECHNIQUES FOR MINTING NON-FUNGIBLE TOKENS (NFTS)
Simplified Explanation: The patent application describes a method for minting non-fungible tokens (NFTs) using location verification devices. This involves receiving a request from a user device, verifying the location of the user device, and minting the NFT based on the request and location verification data.
- NFTs are minted using location verification devices.
- Requests from user devices include event identifiers and locations.
- Public blockchain addresses are identified for minting NFTs.
- Location of user devices is verified using location verification data.
- NFTs are minted based on the public blockchain address and user device location.
Potential Applications: 1. Secure minting of NFTs for events such as sporting events. 2. Ensuring authenticity and location-based verification for NFTs. 3. Enhancing trust and transparency in the NFT marketplace.
Problems Solved: 1. Ensuring the authenticity and location verification of NFTs. 2. Providing a secure method for minting NFTs based on user device location.
Benefits: 1. Increased trust in the authenticity of NFTs. 2. Enhanced security in the minting process. 3. Improved transparency for NFT transactions.
Commercial Applications: Location-based NFT minting technology can be utilized in the art industry, event ticketing, and collectibles market to provide verifiable and secure NFTs.
Questions about Location-based NFT Minting: 1. How does location verification enhance the minting process of NFTs? 2. What are the potential implications of using location verification devices in the NFT marketplace?
Frequently Updated Research: Stay updated on advancements in location verification technology and its applications in the NFT industry for improved security and authenticity.
Original Abstract Submitted
methods, systems, and computer storage media are provided for minting non-fungible tokens (nfts) using one or more location verification devices. for example, a request to mint an nft may be received from a user device. in embodiments, the request includes an event identifier associated with an event (e.g., a sporting event) and an event location. a public blockchain address can be identified based on the request to mint the nft. using location verification data associated with the location verification device, a location of the user device can be verified. for example, location verification data can be associated with at least one signal received from the user device. in some embodiments, the location verification data also corresponds to a user device communication with a base station. accordingly, the nft can be minted based on the public blockchain address and verifying the location of the user device.
