Tokenizing Physical Objects via 3D Scanning and Blockchain
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Solution Overview
Problem
Artworks in private collections and museums are not easily accessible due to location constraints and the advancement in blockchain technology offers a solution by representing them as digital cryptographic assets, specifically non-fungible tokens (NFTs), which are not easily replicable and can be securely stored on a blockchain ledger.
Innovation Solution
A system and method for tokenizing real-world physical objects by scanning them to create a 3D digital model, which is then encrypted and stored on a blockchain, allowing secure and transparent ownership verification and trading on a marketplace.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If artworks are kept in private collections and museums, then their physical security and authenticity are preserved, but their accessibility to the general public is severely limited
Solution Approach 1:
The patent creates digital copies (NFTs) of physical artworks that can be freely accessed, viewed, and traded online. The digital representation captures the artwork's essential characteristics while the original physical piece remains secured in its collection. This allows global accessibility without compromising the physical security or authenticity of the original artwork.
2Reliability
If physical artworks are displayed in museums with scheduled showings, then their physical security is maintained, but the time and effort required for public viewing increases
Solution Approach 1:
By creating digital NFT copies of artworks, the system enables instantaneous global access to artwork views without requiring physical travel or adherence to museum schedules. Users can view high-quality digital representations at any time, eliminating the time loss associated with traveling to and visiting physical museums.
3Ease of operation
If artworks are digitized as NFTs and stored on blockchain, then their accessibility and tradability are improved, but the risk of digital replication and loss of physical security increases
Solution Approach 1:
The patent segments the artwork into two distinct components: the physical original (maintained in secure collections) and the digital NFT representation (freely accessible and tradable). This segmentation allows each component to serve its optimal function - the physical piece maintains security and authenticity, while the digital copy provides accessibility and liquidity without compromising either aspect.
4Reliability
If traditional physical artwork trading is used, then ownership verification is secure, but the complexity and time required for transactions increases
Solution Approach 1:
The patent replaces the mechanical and manual systems of traditional artwork trading (physical inspections, paper documentation, manual transfers) with blockchain-based digital systems. Smart contracts automatically verify ownership, execute transactions, and record transfers on an immutable ledger, dramatically simplifying the transaction process while maintaining or enhancing security and transparency.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enables secure, transparent, and accessible monetization of real-world physical objects by creating tamper-proof NFTs that can be traded on a blockchain marketplace, providing a realistic representation and secure ownership verification.
Implementation Method 1
The processor is configured to control one or more scanning devices to scan a first physical object
Data Source
AI summary
The disclosure provides a system, a method, and a computer program product for tokenization of real-world physical objects and monetization thereof. The system is configured to scan a first physical object to generate a first geometric mesh. A 3D model of the physical object is generated based on the scan. The 3D model is used to determine dimensional data of the physical object. Further, one or more image capture sensors are used to capture additional details of the physical object. A first three dimensional (3D) digital object is created based on the generated 3D model, the dimensional data, and the additional details of the physical object. Further, a first cryptographic asset is obtained by encrypting the first 3D digital object. The first cryptographic asset is used for trading on a secure platform, such as blockchain.