IP Library Granted Patent US 11,949,795
Granted Patent B2
US 11,949,795 · App. 17/458,741 · Granted Apr 2, 2024

System for tracking resources using non-fungible tokens

Inventors: Michael Robert Young (Davidson, NC); James J. Siekman (Charlotte, NC); Richard Seymour Scot (Huntersville, NC)
Assignee: BANK OF AMERICA CORPORATION
H04L9/3247H04L9/50
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Quick Facts
Patent No.
US 11,949,795
App. No.
17/458,741
Granted
Apr 2, 2024
Kind
B2
Abstract

Systems, computer program products, and methods are described herein for tracking resources using non-fungible tokens. The present invention is configured to electronically receiving, over a distributed computing network from a computing device of a user, a request for a non-fungible token (NFT) for a resource; initiating a non-fungible token (NFT) generator on the resource in response to receiving the request; generating a unique digital signature for the resource; generating, using the NFT generator, the NFT, wherein the NFT comprises at least the unique digital signature for the resource; and record the NFT for the resource on a distributed ledger.

Claims (73)

1. A system for tracking resources using non-fungible tokens (NFTs), the system comprising:

at least one non-transitory storage device; and

at least one processing device coupled to the at least one non-transitory storage device, wherein the at least one processing device is configured to:

electronically receive, over a distributed computing network from a computing device of a user, a request for a non-fungible token (NFT) for a resource, wherein the resource is a physical object;

initiate a non-fungible token (NFT) generator on the resource in response to receiving the request;

generate a unique digital signature for the resource, wherein generating the unique signature further comprises:

generating, using a resource scanner, a high resolution three-dimensional image of the resource; and

identifying one or more features of the resource from the high resolution three-dimensional image of the resource;

generate, using the NFT generator, the NFT, wherein the NFT comprises at least the unique digital signature for the resources;

determine a physical condition of the resource using the one or more features;

generate, using the NFT generator, a first metadata layer associated with the NFT for the resource; and

store the physical condition of the resource in the first metadata layer; and

record the NFT for the resource on a distributed ledger.

2. The system of claim 1 , wherein the at least one processing device is further configured to:

determine a value of the resource based on at least the physical condition of the resource.

3. The system of claim 1 , wherein the at least one processing device is further configured to:

determine that the resource is stored in a storage facility;

receive storage information associated with the resource, wherein the storage information comprises at least location of the storage facility, ambient conditions of the storage facility, and/or security information of the storage facility;

generate, using the NFT generator, a second metadata layer for the resource; and

store the storage information associated with the resource in the second metadata layer.

4. The system of claim 1 , wherein recording the NFT on the distributed ledger further comprises:

generating a new transaction object for the NFT; and

deploying the new transaction object on the distributed ledger.

5. The system of claim 4 , wherein deploying the new transaction object further comprises:

capturing a distributed ledger address associated with the recording; and

generating a notification indicating that the new transaction object has been created for the NFT in the distributed ledger, wherein the notification comprises at least the distributed ledger address; and

transmitting control signals configured to cause the computing device of the user to display the notification.

6. A computer program product for tracking resources using non-fungible tokens, the computer program product comprising a non-transitory computer-readable medium comprising code causing a first apparatus to:

electronically receive, over a distributed computing network from a computing device of a user, a request for a non-fungible token (NFT) for a resource, wherein the resource is a physical object;

initiate a non-fungible token (NFT) generator on the resource in response to receiving the request;

generate a unique digital signature for the resource, wherein generating the unique signature further comprises:

generating, using a resource scanner, a high resolution three-dimensional image of the resource; and

identifying one or more features of the resource from the high resolution three-dimensional image of the resource;

generate, using the NFT generator, the NFT, wherein the NFT comprises at least the unique digital signature for the resource;

determine a physical condition of the resource using the one or more features;

generate, using the NFT generator, a first metadata layer associated with the NFT for the resource; and

store the physical condition of the resource in the first metadata layer; and

record the NFT for the resource on a distributed ledger.

7. The computer program product of claim 6 , wherein the first apparatus is further configured to:

determine a value of the resource based on at least the physical condition of the resource.

8. The computer program product of claim 6 , wherein the first apparatus is further configured to:

determine that the resource is stored in a storage facility;

receive storage information associated with the resource, wherein the storage information comprises at least location of the storage facility, ambient conditions of the storage facility, and/or security information of the storage facility;

generate, using the NFT generator, a second metadata layer for the resource; and

store the storage information associated with the resource in the second metadata layer.

9. The computer program product of claim 6 , wherein recording the NFT on the distributed ledger further comprises:

generating a new transaction object for the NFT; and

deploying the new transaction object on the distributed ledger.

10. The computer program product of claim 9 , wherein deploying the new transaction object further comprises:

capturing a distributed ledger address associated with the recording; and

generating a notification indicating that the new transaction object has been created for the NFT in the distributed ledger, wherein the notification comprises at least the distributed ledger address; and

transmitting control signals configured to cause the computing device of the user to display the notification.

11. A method for tracking resources using non-fungible tokens, the method comprising:

electronically receive, over a distributed computing network from a computing device of a user, a request for a non-fungible token (NFT) for a resource, wherein the resource is a physical object;

initiating a non-fungible token (NFT) generator on the resource in response to receiving the request;

generating a unique digital signature for the resource, wherein generating the unique signature further comprises:

generating, using a resource scanner, a high resolution three-dimensional image of the resource; and

identifying one or more features of the resource from the high resolution three-dimensional image of the resource;

generating, using the NFT generator, the NFT, wherein the NFT comprises at least the unique digital signature for the resources;

determining a physical condition of the resource using the one or more features;

generating, using the NFT generator, a first metadata layer associated with the NFT for the resource; and

storing the physical condition of the resource in the first metadata layer; and

recording the NFT for the resource on a distributed ledger.

12. The method of claim 11 , wherein the method further comprises:

determining a value of the resource based on at least the physical condition of the resource.

13. The method of claim 11 , wherein the method further comprises:

determining that the resource is stored in a storage facility;

receiving storage information associated with the resource, wherein the storage information comprises at least location of the storage facility, ambient conditions of the storage facility, and/or security information of the storage facility;

generating, using the NFT generator, a second metadata layer for the resource; and

storing the storage information associated with the resource in the second metadata layer.

14. The method of claim 11 , wherein recording the NFT on the distributed ledger further comprises:

generating a new transaction object for the NFT; and

deploying the new transaction object on the distributed ledger.

Assignments (1)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Aug 27, 2021
From: YOUNG, MICHAEL ROBERT; SIEKMAN, JAMES J.; SCOT, RICHARD SEYMOUR
To: BANK OF AMERICA CORPORATION
Reel/Frame 057306/0545 →
Continuity (1)
Related Publication 20230063245A1 · Mar 2, 2023
Cited By (2)
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