Method90 LLC (20240303641). DIGITAL ASSET MANAGEMENT simplified abstract
Contents
DIGITAL ASSET MANAGEMENT
Organization Name
Inventor(s)
Mac Lackey of Charlotte NC (US)
DIGITAL ASSET MANAGEMENT - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240303641 titled 'DIGITAL ASSET MANAGEMENT
The abstract discusses methods and systems for digital asset management, where physical assets like seats in a venue or housing units can be tokenized and associated with a minted non-fungible token (NFT). This NFT is then entered into a distributed ledger to securely record transactions involving the asset, ensuring proper compensation for its use.
- Digital asset management methods and systems are discussed.
- Physical assets like seats in a venue or housing units can be tokenized.
- Assets are associated with a minted non-fungible token (NFT).
- The NFT is entered into a distributed ledger to securely record transactions.
- Participants can be assured of proper and secure compensation for asset use.
Potential Applications: - Real estate management - Event ticketing systems - Artwork authentication and ownership tracking
Problems Solved: - Ensuring secure and permanent records of asset transactions - Providing assurance of proper compensation for asset use
Benefits: - Increased transparency in asset transactions - Enhanced security in recording asset ownership and transactions
Commercial Applications: Title: "Revolutionizing Digital Asset Management: Commercial Applications and Market Implications" This technology can be utilized in real estate management, event ticketing systems, and art authentication, potentially revolutionizing how assets are managed and transactions are recorded in various industries.
Prior Art: Researchers can explore prior art related to digital asset management, tokenization of physical assets, and the use of NFTs in distributed ledgers to further understand the innovation presented in this patent application.
Frequently Updated Research: Researchers can stay informed on the latest developments in digital asset management, blockchain technology, and NFT applications to enhance their understanding of this evolving field.
Questions about Digital Asset Management: 1. How does tokenization of physical assets with NFTs impact asset ownership and transactions? 2. What are the potential challenges in implementing a distributed ledger system for recording asset transactions securely?
Original Abstract Submitted
methods and systems for digital asset management are discussed herein. physical assets, such as a seat or group of seats in a venue (e.g., sports stadium, concert hall, movie theater, etc.) or a housing unit or group of housing units (e.g., apartment, condominium, hotel room, etc.) may be tokenized and associated with a minted non-fungible token (nft). the nft may be entered into a distributed ledger such that, when the asset is involved in a transaction (e.g., rented, purchased, etc.), a record of the transaction is securely and permanently entered into the distributed ledger. by utilizing the nft and the distributed ledger during the transaction of the asset, all participants involved can be assured that proper and secure compensation is being provided for use of the asset.
