US-12626243-B2 - Method and system for mastercard authenticating non-fungible tokens

US12626243B2US 12626243 B2US12626243 B2US 12626243B2US-12626243-B2

Abstract

A method for authentication of non-fungible tokens (NFTs) includes receiving a validation request for an NFT from an external platform including a smart contract identifier; calculating an authentication score for the NFT based on at least (i) wallet activity associated with a creator blockchain wallet identified based on the smart contract identifier, and (ii) a fraud score of the external platform; and if the calculated authentication score for the NFT is below a predetermined threshold value, transmitting a negative response message to the validation request indicating unsuccessful validation of the NFT, or if the calculated authentication score for the NFT is above the predetermined threshold value, transmitting a positive response message to the validation request indicating successful validation of the NFT and instructing the external platform to execute a smart contract associated with the smart contract identifier.

Inventors

Venkata SATYA SIVAJEE PINNAMANENI
Kaushal Shetty
Sachin Kumar Singh

Assignees

MASTERCARD INTERNATIONAL INCORPORATED

Dates

Publication Date: 20260512
Application Date: 20230327

Claims (16)

1 . A method for authentication of non-fungible tokens (NFTs), comprising: in response to a request to purchase an NFT on a digital marketplace, receiving, by a receiver of a processing server, a validation request for the NFT from a smart contract platform that generates and stores a smart contract associated with the NFT and communicates between the digital marketplace and a blockchain network, wherein the validation request includes at least a smart contract identifier associated with the smart contract; calculating, by a processor of the processing server, an authentication score for the NFT based on at least (i) wallet activity associated with a creator blockchain wallet on the blockchain network, of a creator of the NFT, identified based on the smart contract identifier, (ii) a fraud score of the smart contract platform that stores the smart contract associated with the NFT, and (iii) a ranking of the smart contract platform among available smart contract platforms, wherein the fraud score and ranking of the smart contract platform are based on whether the smart contract platform has previously participated in transfers of fraudulent NFTs; determining, by the processor of the processing server, that the calculated authentication score for the NFT is above a predetermined threshold value; in response to determining that the calculated authentication score is above the predetermined threshold value, generating, by the processor of the processing server, a visual marking indicating a successful authentication; overlaying, by the processor of the processing server, the visual marking onto the NFT to visually indicate successful authentication; and transmitting, by a transmitter of the processing server, a positive response message to the validation request indicating successful validation of the NFT and instructing the smart contract platform to execute the smart contract associated with the smart contract identifier, wherein the smart contract platform executes the smart contract resulting in a transfer of ownership of the NFT from the creator blockchain wallet to a blockchain wallet of a user purchasing the NFT.
2 . The method of claim 1 , wherein the positive response message further includes a digital certificate generated by the processor of the processing server indicating authenticity of the NFT.
3 . The method of claim 2 , wherein the digital certificate is generated via a private key of a cryptographic key pair.
4 . The method of claim 2 , wherein the digital certificate is supplied as input to the smart contract prior to execution of the smart contract.
5 . The method of claim 1 , wherein the validation request further includes a public key associated with the creator blockchain wallet.
6 . The method of claim 1 , wherein the validation request includes the smart contract.
7 . The method of claim 1 , wherein the authentication score is further based on at least one of (iv) wallet activity associated with a recipient blockchain wallet identified using data included in the validation request, and (v) a date associated with creation of the creator blockchain wallet.
8 . The method of claim 1 , further comprising: updating, by the processor of the processing server, the fraud score of the smart contract platform based on the determination that the authentication score for the NFT is above the predetermined threshold value.
9 . A system for authentication of non-fungible tokens (NFTs), comprising: a digital marketplace; a blockchain network; a smart contract platform that (i) generates and stores a plurality of smart contracts, each smart contract being associated with a respective NFT and (ii) communicates between the digital marketplace and the blockchain network; and a processing server including a processor and a memory, the memory having instructions stored therein that when executed cause the processor to: receive, in response to a request to purchase an NFT on the digital marketplace, a validation request for the NFT from the smart contract platform, the validation request including at least a smart contract identifier associated with the smart contract, calculate an authentication score for the NFT based on at least (i) wallet activity associated with a creator blockchain wallet on the blockchain network, of a creator of the NFT, identified based on the smart contract identifier, (ii) a fraud score of the smart contract platform, and (iii) a ranking of the smart contract platform among available smart contract platforms, wherein the fraud score and ranking of the smart contract platform are based on whether the smart contract platform has previously participated in transfers of fraudulent NFTs, determine that the calculated authentication score for the NFT is above a predetermined threshold value, generate, in response to determining that the calculated authentication score is above the predetermined threshold value, a visual marking indicating a successful authentication, overlay the visual marking onto the NFT to visually indicate successful authentication, and transmit a positive response message to the validation request indicating successful validation of the NFT and instructing the smart contract platform to execute the smart contract associated with the smart contract identifier, wherein the smart contract platform executes the smart contract resulting in a transfer of ownership of the NFT from the creator blockchain wallet to a blockchain wallet of a user purchasing the NFT.
10 . The system of claim 9 , wherein the positive response message further includes a digital certificate generated by the processor of the processing server indicating authenticity of the NFT.
11 . The system of claim 10 , wherein the digital certificate is generated via a private key of a cryptographic key pair.
12 . The system of claim 10 , wherein the digital certificate is supplied as input to the smart contract prior to execution of the smart contract.
13 . The system of claim 9 , wherein the validation request further includes a public key associated with the creator blockchain wallet.
14 . The system of claim 9 , wherein the validation request includes the smart contract.
15 . The system of claim 9 , wherein the authentication score is further based on at least one of (iv) wallet activity associated with a recipient blockchain wallet identified using data included in the validation request, and (v) a date associated with creation of the creator blockchain wallet.
16 . The system of claim 9 , wherein the processor updates the fraud score of the smart contract external platform based on the determination that the calculated authentication score for the NFT is above the predetermined threshold value.

Description

FIELD The present disclosure relates to the authentication of non-fungible tokens (NFTs), specifically the use of historical wallet and exchange data to calculate authentication scores for measuring the validity of an NFT. BACKGROUND Blockchains were first created as a way of providing for a cryptographic currency that could be transferred among participants in a decentralized manner that provided the participants with anonymity. Over time, people and entities discovered new uses for blockchains in a variety of different industries and applications. A recent new application for blockchains is in conjunction with non-fungible tokens, most commonly referred to as “NFTs.” An NFT is a unique digital object whose provenance is tracked on a blockchain that can be bought and sold. At its inception, NFTs were most often digital artwork, but they have since expanded to also include other digital objects, such as representing items in online video games, songs, sports video clips, etc. An NFT, once created, is stored in a blockchain with transfers of ownership recorded therein. Much of the value of an NFT comes from its uniqueness; the purchaser can claim ownership of the NFT and show it off to others the same way an art collector can. Still, like with traditional, physical paintings, there is little to stop someone from creating a copy of the digital object. In most cases, the copy is marketed as such and has a significantly lower value than the original. However, nefarious actors can make a copy of an existing NFT and present is as the original (e.g., representing that they have the real Mona Lisa), can make an NFT and claim to be a famous artist (e.g., Banksy), or can make an NFT that they claim comes from a famous artist (e.g., representing a painting having been done by Picasso). Currently, there are no systems designed for authenticating an NFT or the seller thereof. While a more tech savvy purchaser can identify the history of an NFT on a blockchain, they can still be unable to determine if the NFT itself or the seller is genuine. Thus, there is a need for a technical system that can authenticate an NFT prior to purchase. SUMMARY The present disclosure provides a description of systems and methods for authentication of non-fungible tokens (NFTs). When a purchaser wants to buy an NFT through a digital marketplace, the digital marketplace provides information on the purchase to a smart contract platform that has a smart contract for the NFT. The smart contract platform provides a validation request to a processing server for the purchase. The processing server calculates an authentication score for the NFT using available data including wallet activity of the creator of the NFT and history of the smart contract platform being used. The processing server then determines if the calculated score is above a threshold value. If the score is below a threshold value, then a response message is sent back to the platform indicating unsuccessful validation of the NFT, where the platform can refuse the transaction or notify the purchaser of the unsuccessful validation. If the score is above the threshold value, then a response message can be sent to the platform indicating successful validation, where the platform can execute the smart contract for the NFT to process the ownership transfer to the purchaser. In some cases, a visual marking can be applied to the NFT indicating the successful authentication to provided added assurance to future purchasers. A method for authentication of non-fungible tokens (NFTs) includes receiving, by a receiver of a processing server, a validation request for an NFT from an external platform, the validation request including at least a smart contract identifier; calculating, by a processor of the processing server, an authentication score for the NFT based on at least (i) wallet activity associated with a creator blockchain wallet identified based on the smart contract identifier, and (ii) a fraud score of the external platform; determining, by the processor of the processing server, if the calculated authentication score for the NFT is above a predetermined threshold value; and if the calculated authentication score for the NFT is below the predetermined threshold value, transmitting, by a transmitter of the processing server, a negative response message to the validation request indicating unsuccessful validation of the NFT, or if the calculated authentication score for the NFT is above the predetermined threshold value, transmitting, by the transmitter of the processing server, a positive response message to the validation request indicating successful validation of the NFT and instructing the external platform to execute a smart contract associated with the smart contract identifier. A system for authentication of non-fungible tokens (NFTs) includes: an external platform; and a processing server, the processing server including a receiver of a processing server receiving a validation re