US-12621152-B2 - Tokenization of digital media files and associated derivatives

US12621152B2US 12621152 B2US12621152 B2US 12621152B2US-12621152-B2

Abstract

Managing digital media files in a computer network by storing a set of derivative files and a logical association of the derivative files with the first digital media file; generating a first cryptographic token; associating the first cryptographic token with the first digital media file; associating the first cryptographic token with a first wallet address corresponding to a first wallet; generating a serialized set of non-fungible tokens and associating individual ones of the non-fungible tokens with individual ones of the derivative files; and associating individual ones of the non-fungible tokens with individual wallet addresses of a second set of wallets; and limiting the initial transferability of the first cryptographic token from the first wallet to one of the second set of wallets.

Inventors

Drake Sutton-Shearer
James G. Gatto

Assignees

Drake Sutton-Shearer
James G. Gatto

Dates

Publication Date: 20260505
Application Date: 20220401

Claims (20)

1 . A computer-implemented method for managing digital media files in a computer network comprising: storing, in a memory of a processing server, a first digital media file, a set of derivative files and a logical association of the derivative files with the first digital media file; generating, via a first computer code module, a first cryptographic token; associating in the memory the first cryptographic token with the first digital media file; associating the first cryptographic token with a first wallet address corresponding to a first wallet; generating, via a second computer code module, a serialized set of non-fungible tokens and associating individual ones of the non-fungible tokens with individual ones of the derivative files; and associating individual ones of the non-fungible tokens with individual wallet addresses of a second set of wallets; wherein the first computer code module is configured to limit the initial transferability of the first cryptographic token from the first wallet to one of the second set of wallets; and wherein the first digital media file is an original file and the derivative files comprise a limited edition set of copies, modifications or enhancements of the original file.
2 . The method of claim 1 wherein the first digital media file comprises a digital art file, a digital music file, a digital book or a digital collectibles file.
3 . The method of claim 1 wherein the first digital media file is an original file and the set of derivative files comprise derivatives of the original file.
4 . The method of claim 1 wherein the first digital media file is an original version of a creative work.
5 . The method of claim 1 further comprising the step of initiating an offer to transfer the first token by communicating an electronic message to the owners of the second set of wallets.
6 . The method of claim 1 wherein a first sale or other transfer of the first cryptographic token comprises communicating an electronic message to the owners of the second set of wallets to notify them of an intent to transfer the first cryptographic token, permitting offer messages only from second set of wallet addresses and transferring the first cryptographic token to the one of the second set of wallets associated with an accepted offer.
7 . The method of claim 6 wherein any subsequent transfer of the first cryptographic token from the one of the second set of wallets associated with the accepted offer is not limited to transfer to the one of the second set of wallets.
8 . The method of claim 1 wherein the first computer code module comprises a first smart contract configured to limit transferability of the first token to an owner of the derivative files.
9 . The method of claim 1 wherein the second computer code module is configured to manage aspects of a transfer of the NFTs and rights of the corresponding NFT owner to acquire the first token associated with the original file.
10 . The method of claim 1 wherein the NFTs representing ownership of the derivative files are configured to give the corresponding NFT owners an exclusive right to participate in an offering to acquire ownership of the original file.
11 . The method of claim 1 wherein the step of associating the first cryptographic token with a corresponding first wallet includes associating the first cryptographic token with the first wallet via a blockchain or other decentralized registry.
12 . A computer-implemented method for managing digital media files in a computer network comprising: storing, in a memory of a processing server, a first digital media file, a set of derivative files and a logical association of the derivative files with the first digital media file; generating, via a first computer code module, a first cryptographic token; associating in the memory the first cryptographic token with the first digital media file; associating the first cryptographic token with a first wallet address corresponding to a first wallet; generating, via a second computer code module, a serialized set of non-fungible tokens and associating individual ones of the non-fungible tokens with individual ones of the derivative files; and associating individual ones of the non-fungible tokens with individual wallet addresses of a second set of wallets; wherein the first computer code module is configured to limit the initial transferability of the first cryptographic token from the first wallet to one of the second set of wallets; and wherein the first digital media file is an original file and the set of derivative files comprise derivatives of the original file.
13 . The method of claim 12 wherein the first digital media file comprises a digital art file, a digital music file, a digital book or a digital collectibles file.
14 . The method of claim 12 wherein the first digital media file is an original file and the derivative files comprise a limited edition set of copies, modifications or enhancements of the original file.
15 . The method of claim 12 wherein the first digital media file is an original version of a creative work.
16 . The method of claim 12 further comprising the step of initiating an offer to transfer the first token by communicating an electronic message to the owners of the second set of wallets.
17 . The method of claim 12 wherein a first sale or other transfer of the first cryptographic token comprises communicating an electronic message to the owners of the second set of wallets to notify them of an intent to transfer the first cryptographic token, permitting offer messages only from second set of wallet addresses and transferring the first cryptographic token to the one of the second set of wallets associated with an accepted offer.
18 . The method of claim 17 wherein any subsequent transfer of the first cryptographic token from the one of the second set of wallets associated with the accepted offer is not limited to transfer to the one of the second set of wallets.
19 . The method of claim 12 wherein the first computer code module comprises a first smart contract configured to limit transferability of the first token to an owner of the derivative files.
20 . The method of claim 12 wherein the second computer code module is configured to manage aspects of a transfer of the NFTs and rights of the corresponding NFT owner to acquire the first token associated with the original file.

Description

CROSS-REFERENCE TO RELATED APPLICATION AND INCORPORATION BY REFERENCE The present invention claims the benefit of priority to U.S. Prov. Pat. App. No. 63/169,506 filed Apr. 1, 2021 (0100-923228-DRAKE), entitled TOKENIZATION OF DIGITAL MEDIA FILES AND ASSOCIATED DERIVATIVES (Sutton-Shearer), which is incorporated by reference herein in its entirety. FIELD OF THE INVENTION The present invention and subject disclosure herein relates to digital media file management via a system and process for tokenization of digital media files and associated derivatives of the digital media files within a blockchain network or distributed ledger technology (DLT) system (collectively referred to as a “digital registry”). BACKGROUND System and processes for tokenization of digital media in general is known. See for example U.S. Pat. No. 10,915,874 “System And Process For Tokenization Of Digital Media,” which is incorporated herein by reference in its entirety. The technology disclosed in the '874 patent fails to provide a technical solution that address the scenario where an original digital media file is tokenized and a serialized set of derivative files of the original are created and tokenized via a set of non-fungible tokens. SUMMARY OF THE INVENTION The invention relates to a computer network (e.g., blockchain (or other DLT)-based platform) for digital media file management, including controlling the transfer of a first cryptographic token associated with a first digital media file under control of a first computer code module (e.g., a first smart contract), including electronically storing in a data structure in the network an association of the first digital media file with a set of associated files that comprise derivatives files of the first digital media file and associating individual ones of the derivative files with corresponding non-fungible cryptographic tokens (NFTs). The system further includes additional computer code modules (e.g., smart contracts) configured to manage the assignment of the non-fungible cryptographic tokens to designated digital wallet addresses associated with corresponding owners of the non-fungible cryptographic tokens. Digital wallets, or e-wallets or cryptocurrency wallets, can be in the form of physical devices such as smart phones or other electronic devices executing an application or electronic services, online services, or software platforms. Digital wallets may provide a store of value or a credit or access to credit and may be in the form of a digital currency or involve a conversion to digital currency, tradeable digital asset, or other medium of exchange. For example, digital currency may be in the form of cryptocurrency/wallet platforms, e.g., Bitcoin, Ethereum, Dogecoin, Shiba Inu, Ripple, Harmony, Polkadot, and Litecoin. The stored value accessible using a digital wallet may involve authentication to access ownership records or other indica stored in a digital ledger or DLT and requiring authentication and/or other decryption techniques to access the store of value. Parties may use digital wallets in conducting electronic financial transactions including exchanges of digital currency for goods and/or services or other consideration or items of value. Transactions may involve use of merchant or other terminal equipment and involve near field communication (NFC) features or other communication techniques and use a computer network. In addition, digital wallets may include identifying or authenticating information such as account credentials, loyalty card/account data, and driver's license information, and the transaction may involve communicating information contained or stored in the digital wallet necessary to complete intended transactions. Additionally, the first computer code module is configured to limit the transfer of the first cryptographic token to one of the designated wallet addresses of an owner of one of the non-fungible cryptographic tokens associated with the derivative files. A first embodiment of the present invention provides a computer-implemented method for managing digital media files in a computer network comprises: storing, in a memory of a processing server, a first digital media file, a set of derivative files and a logical association of the derivative files with the first digital media file; generating, via a first computer code module, a first cryptographic token, associating in the memory the first cryptographic token with the first digital media file; associating the first cryptographic token with a first wallet address corresponding to a first wallet; generating, via a second computer code module, a serialized set of non-fungible tokens and associating individual ones of the non-fungible tokens with individual ones of the derivative files; and associating individual ones of the non-fungible tokens with individual wallet addresses of a second set of wallets; wherein the first computer code module is configured to limit the initial transferability