Methods and systems for generating limited access non-fungible tokens
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Solution Overview
Problem
Current Non-Fungible Tokens (NFTs) lack mechanisms to ensure exclusive access and control ownership, allowing unrestricted access and use by anyone, which is problematic as NFTs expand beyond digital art to valuable assets like documents and smart contracts.
Innovation Solution
Implementing an Authenticated Encryption with Associated Data (AEAD) process to generate Limited Access Non-Fungible Tokens (LANFTs), where the NFT is encrypted and the descriptor is authenticated but not encrypted, allowing only authorized users to access the full NFT after obtaining ownership, using a private key for decryption.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If NFT files are openly accessible on the blockchain, then transparency and ease of access are improved, but exclusive access control and ownership security deteriorate
Solution Approach 1:
The NFT data is segmented into two distinct parts: a public descriptor portion that remains accessible on the blockchain for transparency and discovery, and a private content portion that is encrypted and requires authentication to access. This segmentation allows the system to simultaneously provide open accessibility for viewing descriptors while maintaining secure exclusive access control for the actual digital asset content.
Solution Approach 2:
An encryption intermediary layer is introduced between the blockchain and the NFT content. The system uses authenticated encryption with associated data (AEAD) where the blockchain stores encrypted content hashes and descriptors, but not the actual decryptable content. This intermediary encryption mechanism allows public verification of ownership and authenticity while preventing unauthorized access to the actual digital asset, thus maintaining both accessibility and security.
2Reliability
If NFT content is encrypted for exclusive access, then ownership security is improved, but accessibility and viewability prior to purchase deteriorate
Solution Approach 1:
The essential identifying and descriptive information is extracted from the full NFT content and placed in the public descriptor portion that remains unencrypted and accessible on the blockchain. This extracted descriptor data includes metadata, title, creator information, and authentication hashes that allow potential buyers to verify authenticity and ownership without needing access to the encrypted full content, thus maintaining viewability while ensuring exclusive access control.
Solution Approach 2:
The system performs preliminary authentication and verification actions by storing authenticated descriptors and content hashes on the blockchain before the actual content is accessed. Potential buyers can perform preliminary verification of the NFT's authenticity, ownership history, and metadata through the public descriptors, eliminating the need to decrypt full content for viewing purposes. The actual decryption and access to full content is reserved as a preliminary action only for authenticated owners.
3Reliability
If authentication mechanisms are added to NFTs, then security and ownership verification are improved, but system complexity deteriorates
Solution Approach 1:
The patent leverages the existing universal blockchain infrastructure and its built-in cryptographic authentication mechanisms to provide security. Rather than introducing a separate complex authentication system, the solution uses the blockchain's native digital signature and public-key cryptography capabilities that already exist and are widely understood. The authentication process reuses the blockchain's existing verification mechanisms, making the system multi-functional by combining storage, authentication, and access control in the existing blockchain framework without adding significant structural complexity.
Data Source
AI summary
A method and system including, using an authenticated encryption with associated data (AEAD) process, encrypting and authenticating a non-fungible token (NFT) and authenticating a NFT descriptor without encryption to generate a limited access non fungible tokens (LANFT), the LANFT including an authenticated and encrypted NFT portion and an authenticated and nonencrypted NFT descriptor portion which is viewable by a user prior to obtaining ownership of the NFT; and in response to receiving a confirmation that the user has obtained ownership of the NFT, providing a private key to the user, wherein the private key is used to decrypt the NFT.