Sustainability Token Scoring for NFT-Based Benefit Eligibility
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Solution Overview
Problem
There is a need to incentivize environmentally sustainable consumer and corporate behaviors through the use of non-fungible tokens (NFTs) to provide benefits to customers based on their use of these tokens.
Innovation Solution
A method and system that utilizes NFTs to manage digital assets by generating a composite sustainability score based on attributes associated with these tokens, providing benefits when the score meets certain criteria, and updating the status of these tokens on a distributed blockchain ledger.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If non-fungible tokens are used to represent products or digital assets, then new methods for providing benefits to customers can be implemented, but the system complexity increases due to blockchain integration and token management requirements
Solution Approach 1:
The patent introduces a benefit management system that acts as an intermediary between the blockchain network and the benefit distribution mechanism. This system includes a server that receives benefit criteria from multiple sources, manages token evaluations, and coordinates benefit provision without requiring direct complex interactions between blockchain participants and benefit providers
Solution Approach 2:
The system implements feedback mechanisms where benefit criteria are continuously evaluated based on token attributes and sustainability scores. The benefit management system monitors token performance, updates criteria based on outcomes, and adjusts benefit distribution strategies, creating a closed-loop system that manages complexity through adaptive feedback
2Measurement precision
If sustainability scores are calculated based on multiple token attributes, then environmental sustainability can be measured more accurately, but the computational requirements and processing time increase
Solution Approach 1:
The system performs preliminary actions by pre-calculating and storing sustainability scores and criteria evaluations in the benefit management system before actual benefit distribution decisions are needed. Token attributes and their corresponding sustainability metrics are processed in advance, allowing for rapid benefit eligibility determination without real-time computational overhead
Solution Approach 2:
The sustainability evaluation process is segmented into distinct components: token attribute extraction, sustainability metric calculation, criteria comparison, and benefit eligibility determination. Each segment can be processed independently and cached, reducing the computational burden during benefit distribution while maintaining comprehensive sustainability measurement accuracy
3Ease of operation
If benefit criteria are established for token owners, then incentives for sustainable behavior can be provided, but the difficulty of determining eligibility and managing distributions increases
Solution Approach 1:
The benefit management system implements self-service mechanisms where token owners can independently verify their benefit eligibility by accessing their token attributes and comparing them against published criteria. The system automatically determines eligibility based on predefined rules, reducing manual intervention complexity while enabling straightforward benefit claim processes for users
Data Source
AI summary
A method of managing digital assets is provided. The method includes receiving an input identifying a first digital wallet. One or more non-fungible tokens associated with the first digital wallet are identified. From the one or more non-fungible tokens, sustainability tokens are selected, each of the sustainability tokens being associated with a corresponding sustainability digital asset. For each of the sustainability tokens, a uniform resource indicator for the corresponding sustainability digital asset is retrieved from a distributed blockchain ledger and based on the uniform resource indicator, attributes of the corresponding sustainability digital asset are retrieved. A composite sustainability score is generated based on the attributes of the sustainability digital assets associated with the sustainability tokens, which is compared to a first benefit criteria and when the composite sustainability score meets the benefit criteria, a first benefit is provided to an owner of the first digital wallet.