BR-102024018351-A2 - A SYSTEM AND A METHOD FOR CONSTRUCTING NON-FUNGIBLE TOKENS (NFTs) WITH DETERMINED AND/OR FINITE CYCLES

Abstract

The phenomenon of NFTs (Non-Fungible Tokens) has spread worldwide, attracting retail investors, collectors, and trend followers. However, the technology behind NFTs has greater potential than simply representing collectible digital assets on blockchains – it can be applied to value chains that handle real assets in different sectors of the economy. Operations related to NFTs are governed by fundamental principles defined in the ERC-721 protocol on Ethereum. The protocol helps define how the uniqueness of a specific NFT is built through information hosted in the associated metadata. However, such operations do not support some specific requirements of certain applications that may benefit from some of the characteristics of a traditional NFT but require specific treatments. Among the special singularities of interest is the possibility of limiting or fixing the exchange of ownership of an NFT. These special NFTs, called Predictive Cycle NFTs, are characterized by the existence of a determined and/or finite cycle of state and/or ownership exchange operations. When the predicted lifecycle of a non-sellable token (NST) involves a final recipient, the definitive holder of the asset, with a pre-established profile, such assets can be grouped and treated in a particular way, which we call Non-Sellable NFTs. When the ability is added that the represented digital asset, or at least some of its attributes or state, can be exogenously impacted by specific external conditions or agents, another class of NFT-NST emerges, designated as Dynamic NFTs, which may be associated with specific oracles to allow the verification of complementary information subject to change. The overall objective of the present invention is to propose a method and a system capable of adapting non-fungible token technologies to support the concepts of Predictive Lifecycle NFTs, Non-Sellable NFTs, Dynamic NFTs, and Dynamic Non-Sellable NFTs (a combination of the two previous ones), to support applications that require the digital representation and management of assets with limited circulation.

Inventors

• CAIO SOUZA FLORENTINO

Assignees

• LEDGER SERVICOS EM TECNOLOGIA LTDA

Dates

Publication Date

20260317

Application Date

20240905

Claims (4)

1. 1. A process and architecture for creating Non-Fungible Predictive Cycle Tokens (NFT-CP) compliant with the ECR-721 standard and characterized by having finite and predefined lifecycles, enabling the prior establishment of expected exchanges of ownership of the associated digital asset and the definition of specific states and authorized actors to make changes to attributes and metadata, intended for use in applications and scenarios that require control of the flow of born-digital or digitized assets involving one or more issuers/controllers.
2. 2. A process for creating Non-Fungible Non-Saleable Tokens (NFT-NV) based on Predictive Cycle Non-Fungible Tokens (independent claim No. 1), characterized by having an end state in which a definitive owner must have been assigned to the associated asset and intended for controlling the flow of digital assets whose issuance and allocation is not based on financial exchanges but on merit-based and/or regulatory granting.
3. 3. A process for creating Dynamic Non-Fungible Tokens (NFT-D) based on Predictive Cycle Non-Fungible Tokens (independent claim No. 1), characterized by allowing changes in their attributes, including the owner of the associated asset, if certain pre-established conditions are met, even in the final state, and intended for controlling the flow of digital assets whose granting, assignment and/or characteristics may be affected by future conditions or events.
4. 4. A process for creating Dynamic Non-Fungible Non-Sellable Tokens (NFT-NVD) based on Predictive Cycle Non-Fungible Tokens (independent claim No. 1), characterized by allowing changes in their attributes, except for the definitive owner of the associated asset, if certain pre-established conditions are met even in the final state and intended for the flow control of digital assets whose issuance and allocation is not based on financial exchanges but on merit-based and/or regulatory granting and whose granting, allocation and/or characteristics may be affected by future conditions or events.

Description

Field of invention [001] Validating the existence or possession of formally signed documents is fundamental in any legal context. Typically, the traditional certification of physical documents relies on central authorities, notarial or otherwise, to store and apply the necessary records and mechanisms for this purpose, and also to deal with security aspects and challenges. These challenges become increasingly difficult as archives age. [002] However, the materialization and dematerialization of documents, as well as the dynamism and speed of digital relations, has represented a new challenge for entities that produce and/or certify documents. This is especially true when the possibility of generating paper documents from digital documents and generating digital documents from paper documents begins to emerge, demanding the guarantee that the terms established in the original are effectively preserved and receive a seal of legitimacy, regardless of their form of representation. [003] In this sense, distributed ledger technologies (DLTs) present themselves as an alternative model for the certification of legal documents, especially by eliminating the need for a centralized authority to verify the authenticity of a document. An issuing entity can simply store the signature and timestamp associated with a legal document on the blockchain and validate it at any time using the technology's native mechanisms. [004] As it is considered fraud-proof and can be independently verified by third parties, this type of certification provided by DLTs is legally relevant. Furthermore, the publication registration using blockchain and cryptographic hashes of blockchain files offers a new and irrefutable level of certification. Additionally, the use of DLTs for this type of registration can also ensure the privacy of the document and the authors involved, if applicable. [005] The proponent of the present invention has already been working on offering solutions in the blockchain registration segment, using more traditional strategies, such as cryptographic anchors to support proofs of integrity, existence, and authorship of DDRs. However, this strategy only complements the natural flow of applications where the aforementioned resources are applied. NFTs, in turn, can be valuable allies in managing the lifecycle of DDRs, allowing specific semantics to be constructed and associated specifically with each relevant class of digital document of interest. In this sense, NFTs not only offer the fundamental functionalities of a DLT/blockchain with robust cryptography, but can also allow the implementation of additional safeguards against data falsification and unverified exchanges of state and/or ownership. In this context, a whole range of uses and applications can open up for the relevant digital document management segment supported by the resources of the Finite and/or Determined Lifecycle NFTs proposed in the present invention. Fundamentals of the invention [006] The present invention seeks to expand the emerging concept of non-fungible tokens, also known as NFTs, which are expanding and even challenging the collective understanding of representation and ownership of digital assets, in the context of the management of relevant digital documents, especially those that connect the physical and virtual worlds. [007] In simplified terms, an NFT can be understood as a cryptographically protected token existing on a blockchain that represents ownership of something unique. NFTs can represent tokenized ownership claims for real-world assets, such as a specific property, or as actual ownership of digital assets, such as a rare audio or digital image. Unlike fungible tokens like Bitcoin, where one BTC can be exchanged for any other BTC, each NFT is completely unique and represents verifiable digital scarcity. That is, an asset associated with an NFT is different from all other similar assets. [008] The NFT phenomenon has spread around the world, attracting retail investors, collectors, and trend followers. However, the technology behind NFTs has greater potential than simply representing collectible digital assets on blockchains—it can be applied to value chains that handle real assets in different sectors of the economy. [009] It is important to note that operations related to NFTs are governed by fundamental principles defined in the ERC-721 protocol on Ethereum. The protocol helps define how the uniqueness of a specific NFT is built through information hosted in the associated metadata. The metadata also includes a token ID pointing to an image, artwork, web domain, or other relevant digital asset. Therefore, it is possible to transparently and standardizedly access the unique and immutable certificate of ownership and authenticity of an NFT. [0010] However, such operations do not allow for the support of some specific requirements of certain applications that may benefit from some of the characteristics of a traditional NFT but demand