Mod haus Inc. (20240256691). SYSTEM AND METHOD FOR MINTING NON-FUNGIBLE TOKEN simplified abstract
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SYSTEM AND METHOD FOR MINTING NON-FUNGIBLE TOKEN
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SYSTEM AND METHOD FOR MINTING NON-FUNGIBLE TOKEN - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240256691 titled 'SYSTEM AND METHOD FOR MINTING NON-FUNGIBLE TOKEN
The present technology involves a method and system for managing a non-fungible token, specifically a non-fungible token minting method.
- Generating non-fungible token information, including digital content information, a token identification number, and a token ID.
- Storing the non-fungible token information at an address corresponding to token identification information.
- Receiving user identification information to create a blockchain wallet corresponding to the user identification information.
- Matching and storing wallet address information of the blockchain wallet with the user identification information.
- Receiving the token identification information and minting the non-fungible token to the blockchain wallet with the matched wallet address information.
Potential Applications: - Digital art authentication and ownership tracking. - Collectibles and memorabilia verification. - Secure document storage and verification.
Problems Solved: - Ensures secure and transparent ownership of digital assets. - Provides a reliable method for verifying authenticity. - Facilitates easy transfer and tracking of non-fungible tokens.
Benefits: - Establishes trust in the authenticity of digital assets. - Simplifies the process of minting and managing non-fungible tokens. - Enhances security and transparency in digital transactions.
Commercial Applications: Title: Non-Fungible Token Management System This technology can be utilized in the art industry, gaming sector, and legal documentation for secure and transparent asset management. It has implications for digital asset marketplaces and platforms dealing with unique digital content.
Questions about Non-Fungible Token Management System: 1. How does this technology impact the digital art market?
- This technology revolutionizes the digital art market by providing a secure and transparent way to authenticate and track ownership of digital assets.
2. What are the potential challenges in implementing this system in various industries?
- Implementing this system may face challenges related to user adoption, integration with existing platforms, and regulatory compliance.
Original Abstract Submitted
the present technology relates to a method and system for managing a non-fungible token. a non-fungible token minting method according to the present technology, which is a non-fungible token (nft) minting method of minting an nft to a blockchain network, includes: generating non-fungible token information, including digital content information, a token identification number, and a token id; storing the non-fungible token information at an address corresponding to token identification information; receiving user identification information through a user terminal to create a blockchain wallet corresponding to the user identification information; matching and storing wallet address information of the blockchain wallet with the user identification information; and receiving the token identification information through the user terminal and minting the non-fungible token to the blockchain wallet having the wallet address information matched with the user identification information using the non-fungible token information stored at the address corresponding to the token identification information.
