HTC Corporation (20240257104). NON-FUNGIBLE TOKEN GENERATING SYSTEM, METHOD, AND NON-TRANSITORY COMPUTER READABLE STORAGE MEDIUM THEREOF simplified abstract
NON-FUNGIBLE TOKEN GENERATING SYSTEM, METHOD, AND NON-TRANSITORY COMPUTER READABLE STORAGE MEDIUM THEREOF
Organization Name
Inventor(s)
Kuan-Wei Li of Taoyuan City (TW)
NON-FUNGIBLE TOKEN GENERATING SYSTEM, METHOD, AND NON-TRANSITORY COMPUTER READABLE STORAGE MEDIUM THEREOF - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240257104 titled 'NON-FUNGIBLE TOKEN GENERATING SYSTEM, METHOD, AND NON-TRANSITORY COMPUTER READABLE STORAGE MEDIUM THEREOF
Simplified Explanation:
This patent application describes a system that can generate non-fungible tokens (NFTs) based on multimedia data. The system can differentiate between operations for creating NFTs and generating multimedia data. When a control signal indicates an NFT generation operation, the system captures an image to create multimedia data, uploads it to a blockchain along with operator identity information, and generates a corresponding NFT using a smart contract. If the control signal indicates a multimedia data generation operation, the system simply captures another image to create multimedia data.
- The system can determine whether to generate NFTs or multimedia data based on control signals.
- When creating NFTs, the system captures images to generate multimedia data and uploads it to a blockchain.
- NFTs are generated based on smart contracts deployed on the blockchain.
- The system can also generate multimedia data without creating NFTs.
Potential Applications: - Digital art authentication and ownership verification. - Collectibles and memorabilia tokenization. - Intellectual property protection through blockchain technology.
Problems Solved: - Ensures authenticity and ownership of digital assets. - Provides a secure and transparent way to create and trade NFTs. - Simplifies the process of generating NFTs from multimedia data.
Benefits: - Establishes a reliable system for creating and managing NFTs. - Enhances trust and security in the digital art market. - Facilitates the tokenization of various assets using blockchain technology.
Commercial Applications: Title: Blockchain-Based NFT Generation System for Digital Asset Authentication This technology can be utilized in art marketplaces, digital collectibles platforms, and intellectual property management systems to streamline the creation and trading of NFTs.
Questions about NFT Generation System: 1. How does the system differentiate between NFT generation operations and multimedia data generation operations? 2. What are the advantages of using smart contracts for generating NFTs on a blockchain?
Frequently Updated Research: Stay updated on the latest advancements in blockchain technology, NFT standards, and digital asset management systems to enhance the efficiency and security of NFT generation processes.
Original Abstract Submitted
a non-fungible token generating system, method, and non-transitory computer readable storage medium thereof are provided. the system determines whether a control signal corresponds to a non-fungible token generating operation or a multimedia data generating operation. in response to the control signal corresponding to the non-fungible token generating operation, the system generates a first multimedia data through an image capturing device, and the system uploads the first multimedia data and an operator identity information to a blockchain to generate a non-fungible token corresponding to the first multimedia data based on a smart contract deployed on the blockchain. in response to the control signal corresponding to the multimedia data generating operation, the system generates a second multimedia data through the image capturing device.
