Unknown Organization (20240232928). METHOD AND SYSTEM FOR USING LOCATION DATA TO GENERATE AND MODIFY PURCHASE INCENTIVES IN THE METAVERSE simplified abstract

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METHOD AND SYSTEM FOR USING LOCATION DATA TO GENERATE AND MODIFY PURCHASE INCENTIVES IN THE METAVERSE

Organization Name

Unknown Organization

Inventor(s)

Richard Postrel of Miami Beach FL (US)

METHOD AND SYSTEM FOR USING LOCATION DATA TO GENERATE AND MODIFY PURCHASE INCENTIVES IN THE METAVERSE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240232928 titled 'METHOD AND SYSTEM FOR USING LOCATION DATA TO GENERATE AND MODIFY PURCHASE INCENTIVES IN THE METAVERSE

The abstract of the patent application describes a system for providing purchase incentives to users in a virtual environment, such as a metaverse, based on factors like the user's location, predicted route of travel, and prior transactions within the metaverse.

  • The tracking service in the metaverse records the locations and timeframes of a user as they travel along a route, predicting their subsequent location and associated timeframe.
  • Based on this prediction, the tracking service identifies a nearby merchant and generates a purchase incentive for the user to use at that merchant.
  • The purchase incentive is then delivered to the user, encouraging them to make a purchase at the identified merchant.

Potential Applications: - E-commerce platforms in virtual environments - Location-based marketing strategies in the metaverse - Personalized shopping experiences for users in virtual spaces

Problems Solved: - Enhancing user engagement and interaction in virtual environments - Increasing sales and revenue for merchants in the metaverse - Providing targeted incentives to users based on their behavior and location

Benefits: - Improved user experience in virtual environments - Increased conversion rates for merchants - Enhanced data collection and analysis for targeted marketing efforts

Commercial Applications: "Virtual Environment Purchase Incentive System: Revolutionizing E-commerce in the Metaverse"

Questions about the technology: 1. How does the system ensure user privacy and data security in tracking their locations within the metaverse? 2. What measures are in place to prevent misuse of the purchase incentives by users or merchants?


Original Abstract Submitted

providing a purchase incentive to a user in a virtual environment such as a metaverse, based on for example the user's location in the metaverse, predicted route of travel in the metaverse, and prior transactions in the metaverse. a tracking service in the metaverse determines a number of locations of a user as they travel along a route in the metaverse and an associated timeframe when they are at each of the locations. the tracking service records the locations and associated timeframes in a location log and analyzes the location log to predict a subsequent location and associated timeframe that the user will be at that location. the tracking service then determines a merchant proximate to the predicted subsequent location of the user in the metaverse and generates a purchase incentive for use at the merchant and delivers the purchase incentive to the user.

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