ULTRAFAN HOLDINGS LIMITED (20240303681). VIRTUAL USER EXPERIENCE SYSTEMS AND METHODS simplified abstract
Contents
VIRTUAL USER EXPERIENCE SYSTEMS AND METHODS
Organization Name
Inventor(s)
Johannes Wessel Greeff of Cape Town (ZA)
Templar Wales of Johannesburg (ZA)
Michael John Allen of Plettenberg Bay (ZA)
VIRTUAL USER EXPERIENCE SYSTEMS AND METHODS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240303681 titled 'VIRTUAL USER EXPERIENCE SYSTEMS AND METHODS
Simplified Explanation: The patent application describes systems and methods for creating non-fungible tokens (NFTs) linked to physical spaces in a geographic location, including event data. These NFTs are minted with digital elements representing physical spaces and values based on these elements.
- NFTs associated with physical spaces in a geographic location
- Minted with event data for corresponding events
- Digital elements generated for each physical space
- Event data received for events linked to physical spaces
- Smart contracts executed on a blockchain to create NFTs with digital elements and values
Potential Applications: 1. Real estate tokenization 2. Event ticketing and memorabilia 3. Location-based gaming and augmented reality experiences
Problems Solved: 1. Establishing ownership and authenticity of physical spaces 2. Enhancing event ticketing and memorabilia with blockchain technology 3. Creating unique digital representations of physical spaces
Benefits: 1. Increased transparency and security in ownership verification 2. Improved traceability of event data and memorabilia 3. Enhanced engagement in location-based experiences
Commercial Applications: The technology could be utilized in real estate tokenization platforms, event ticketing services, and location-based gaming applications, offering new opportunities for monetization and user engagement.
Questions about NFTs linked to physical spaces: 1. How can NFTs associated with physical spaces benefit the real estate industry? 2. What are the potential challenges in implementing NFTs for event ticketing and memorabilia?
Original Abstract Submitted
systems and methods for causing generation of non-fungible tokens (nfts) associated with respective physical spaces of a geographic location are provided. such nfts can be minted to include an indication of event data for events corresponding to the physical spaces. a plurality of digital elements can be generated that are each associated with a respective physical space of a plurality of physical spaces of a geographic area. event data can be received for a first plurality of events associated with the plurality of physical spaces. first and second instructions can be sent to a blockchain to execute respective first and second smart contracts thereby causing generation of a plurality of nfts each comprising a respective digital element of the plurality of digital elements and indications of values of the nfts that are based on their digital elements.
