NFT Metadata Linking With Immutable Built-In Ownership Terms
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Solution Overview
Problem
Current NFTs face issues with unclear ownership rights to underlying assets and mutable metadata links, leading to confusion and potential exploitation by bad actors, hindering widespread adoption.
Innovation Solution
A new NFT protocol and structure that embeds terms directly into the NFT, ensuring they are stored immutably and transparently, linking metadata and digital assets securely through a public decentralized storage system like IPFS, providing tangible evidence of ownership and preventing metadata alteration.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If NFT metadata and terms are stored on centralized servers or mutable storage systems, then ease of access and modification is improved, but security and immutability of ownership rights deteriorate
Solution Approach 1:
The patent introduces IPFS (InterPlanetary File System) as an intermediary decentralized storage network between the NFT smart contract and the underlying digital assets. This mediator provides both accessibility through distributed networking and immutability through cryptographic hashing, resolving the contradiction between ease of access and reliability of ownership records
Solution Approach 2:
The patent replaces centralized server-based storage (mechanical/system-based storage) with a decentralized cryptographic storage system. By substituting the centralized storage mechanism with a distributed hash-based system, the patent achieves both accessibility and immutability simultaneously, as the decentralized nature prevents single-point failure while cryptographic hashes ensure data integrity
2Adaptability or versatility
If terms are stored externally and can be unilaterally changed by the creator, then adaptability of the system is improved, but clarity of ownership rights and protection from exploitation deteriorate
Solution Approach 1:
The patent implements preliminary action by embedding the terms directly into the NFT smart contract during the minting process. This ensures that terms are established beforehand and locked in, preventing later unilateral modifications by creators. The terms become an intrinsic part of the NFT itself, ensuring clarity of ownership rights from the outset
Solution Approach 2:
The patent merges the terms with the NFT smart contract itself, making them inseparable. By combining the terms (which define ownership rights) with the NFT token logic in a single smart contract, the patent ensures that terms cannot be changed independently of the NFT, thereby maintaining clarity and preventing exploitation while still allowing adaptability through smart contract design
Data Source
AI summary
A method performed by an NFT platform includes generating NFT secondary file information relating to a digital file and the NFT, wherein the NFT secondary file information comprises a content ID of the digital file stored in a data storage, wherein the data storage is a permanent and immutable data storage. The method may also include the NFT platform generating an NFT metadata file comprising the content ID of the digital file stored in the data storage, storing the NFT metadata file and the NFT secondary file information in the data storage, generating a smart contract of the NFT comprising a link to a content ID of the NFT metadata file stored in the data storage, and deploying the smart contact to a distributed ledger system.