NFT Minting for Collectible Grading Transparency
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Solution Overview
Problem
Current collectible grading services lack transparency and consistency due to manual processes, leading to reduced confidence among collectors regarding the condition and authenticity of collectibles.
Innovation Solution
Implementing a system that uses an image capture device to record the grading process and a non-fungible token minting device to create a unique token associated with the collectible, stored on a decentralized ledger, providing a transparent and verifiable record of the grading process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual grading processes are used by human graders, then the grading process is flexible and adaptable, but transparency and consistency are reduced leading to lower collector confidence
Solution Approach 1:
The patent creates digital copies (images and videos) of the collectible and the grading process. These digital replicas are stored on a blockchain, providing a transparent and immutable record that collectors can verify without needing to trust the grader's manual assessment, thus resolving the transparency issue while maintaining grading flexibility
Solution Approach 2:
The patent replaces the manual mechanical grading process with an automated system that uses image capture devices, video recording, and blockchain technology. This substitution eliminates the information loss associated with manual processes by creating verifiable digital records, thereby improving collector confidence and transparency simultaneously
2Manufacturing precision
If manual grading processes are used, then the process can be performed with simple equipment, but variation and lack of consistency occur between different graders
Solution Approach 1:
The patent replaces manual grading with an automated system using image capture devices and video recording. This mechanical substitution standardizes the grading process by capturing visual evidence that can be consistently reviewed, eliminating grader-to-grader variation while the modular blockchain implementation keeps system complexity manageable
Solution Approach 2:
The patent introduces digital intermediaries (blockchain, smart contracts, and decentralized storage) that mediate between the grader and the collector. These intermediaries provide a standardized, verifiable record of the grading process that eliminates consistency issues while adding only minimal system complexity through well-established cryptographic protocols
3Reliability
If encapsulation with physical tamper-proof features is used, then physical security is improved, but transparency into the grading process remains limited
Solution Approach 1:
The patent merges physical security measures (encapsulation with tamper-proof features) with digital transparency mechanisms (blockchain recording). The encapsulation maintains physical security while the simultaneous digital recording on blockchain provides complete process transparency, allowing collectors to verify both the physical integrity and the grading process
Solution Approach 2:
The patent creates digital copies of the encapsulation process and the graded collectible through image and video recording. These digital replicas are stored on blockchain, providing transparent verification of the physical security measures without compromising the actual physical security, thus resolving the transparency limitation
Data Source
AI summary
A system for creating a non-fungible token associated with a collectible and grading of the collectible is disclosed. In one embodiment, the system may comprise: an image capture device; and a non-fungible token minting device. In some embodiments, the system may be configured to: receive a collectible and deliver the collectible to a grader that performs a grading procedure on the collectible; record the grader during the grading procedure, via the image capture device, and produce an image file; and mint a non-fungible token, via the non-fungible token minting device, based on the image file and associate the non-fungible token with the collectible.