Digital Collectible Tokenization for Physical Asset Accessibility

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Solution Overview

Problem

Ordinary individuals face challenges in affording and owning portions of valuable artworks and antiques, as these items are often expensive and inaccessible due to their high monetary value.

Innovation Solution

A system and method for generating and distributing digital collectibles of physical objects using a distributed computing network, where a digital representation of the object is partitioned into pieces, each represented by a non-fungible token (NFT) linked to a distributed ledger, allowing ownership transfer and trading.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If digital representation is partitioned into multiple pieces with unique tokens, then accessibility and affordability for ordinary people is improved, but system complexity and cryptographic linking requirements increase

Engineering Contradiction:

ImproveaccessibilityVSAvoidsystem complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The digital representation of the physical object is divided into multiple distinct pieces, with each piece assigned a unique digital token. This segmentation allows multiple users to own portions of a single high-value object, making expensive collectibles accessible to ordinary people rather than requiring single ownership by wealthy individuals.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

A distributed ledger system acts as an intermediary to manage the partitioning, token generation, and ownership recording. The ledger cryptographically links each digital token to its corresponding piece of the digital representation, providing a trusted mechanism that reduces the complexity burden from individual users while ensuring secure and transparent ownership management.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Reliability

If cryptographic linking is implemented on distributed ledger, then ownership security and transfer transparency are improved, but computational requirements and energy consumption increase

Engineering Contradiction:

Improveownership securityVSAvoidenergy consumption

Core Design Contradiction:

ReliabilityVSUse of energy by moving object

Solution Approach 1:

The distributed ledger system performs cryptographic operations autonomously to generate digital tokens and link them to pieces of the digital representation. Each node in the network independently validates and records ownership transfers, eliminating the need for centralized verification and reducing overall system energy consumption through parallel processing across multiple nodes.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The system creates digital copies (tokens) that represent ownership of portions of the physical object without requiring physical duplication or handling. These cryptographic copies enable secure ownership verification and transfer purely through digital means, significantly reducing energy consumption compared to physical authentication methods.

Inventive Principle:

Principle #26Copying

3Productivity

If digital tokens represent portions of physical objects, then tradability and liquidity are improved, but difficulty in verifying authenticity and linkage increases

Engineering Contradiction:

ImprovetradabilityVSAvoidverification difficulty

Core Design Contradiction:

ProductivityVSDifficulty of detecting and measuring

Solution Approach 1:

The distributed ledger provides real-time feedback on token ownership and transfer status. Each transaction is recorded and verified by network nodes, creating an immutable audit trail that automatically verifies authenticity and linkage between tokens and their corresponding pieces of the digital representation, eliminating manual verification processes.

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The system replaces manual or physical verification mechanisms with cryptographic validation performed by the distributed ledger. Instead of requiring expert authentication or physical inspection to verify token authenticity, the network nodes automatically validate cryptographic signatures and ledger records, dramatically reducing verification difficulty and enabling rapid trading.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS20230410126A1System and method for generation and distribution of digital collectibles of physical objects protected by cryptographic digital tokens

Publication Date: 2023.12.21 YEUNG BENJAMIN

AI summary

A system for generation and distribution of digital collectibles of a physical object over distributed computing network includes distributed ledgers and computing devices operably coupled to the distributed ledgers. The computing devices are configured to: generate a digital representation of the physical object; partition the digital representation into a plurality of pieces, each piece uniquely representing a respective portion of the physical object; generate a plurality of digital tokens for the plurality of pieces of the digital representation, each digital token including a token identifier associated uniquely with a respective piece of the digital representation; cryptographically link each digital token to the respective piece of the digital representation on the distributed ledgers, such that each digital token represents the respective piece of the digital representation; and associate ownership of each digital token to an account of an owner of the respective piece of the digital representation on the distributed ledgers.