IP Library Granted Patent US 11,880,434
Granted Patent B1
US 11,880,434 · App. 18/112,145 · Granted Jan 23, 2024

Apparatus and methods for temporarily sharing non-fungible tokens (NFTS)

Inventor: Linda Lee Richter (Oakland, CA)
Assignee: Linda Lee Richter
G06F21/10G06F21/602G06F21/1014
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Quick Facts
Patent No.
US 11,880,434
App. No.
18/112,145
Granted
Jan 23, 2024
Kind
B1
Abstract

An apparatus and method for temporarily sharing a non-fungible token (NFT), the apparatus includes at least a processor, a memory communicatively connected to the at least processor, wherein the memory containing instructions configuring the at least processor to receive a data collection, wherein the data collection comprises a plurality of data objects associated with at least one NFT, verify the at least one NFT as a function of the data collection, identify an in-force time element as a function of the at least one NFT, determine at least one designated utility of the at least one NFT, and generate a self-executing action protocol for interests to the at least one NFT as a function of the in-force time element and the at least one designated utility of the at least one NFT.

Claims (38)

1. An apparatus for temporarily sharing a non-fungible token (NFT), wherein the apparatus comprises:

at least a hardware processor; and

a memory communicatively connected to the at least a hardware processor, wherein the memory containing instructions configuring the at least a hardware processor to:

receive a data collection, wherein the data collection comprises a plurality of data objects associated with at least one NFT;

verify the at least one NFT as a function of the data collection;

identify an in-force time element as a function of the at least one NFT, wherein the in-force time element comprises in-force time duration defined by an in-force start time and an in-force end time;

determine at least one designated utility of the at least one NFT; and

generate a self-executing action protocol configured to be executed on a decentralized platform implementing decentralized finance for interests to the at least one NFT as a function of the in-force time element, and the at least one designated utility of the at least one NFT and wherein generating the self-executing action protocol further comprises:

activating the self-executing action protocol for interests to the at least one NFT as a function of the in-force start time; and

deactivating the self-executing action protocol for interests to the at least one NFT as a function of the in-force end time.

2. The apparatus of claim 1 , wherein the data collection comprises information associated with a transferor and a transferee of the at least one NFT.

3. The apparatus of claim 1 , wherein the at least one NFT comprises:

a fractional NFT comprising a plurality of portions, wherein each portion is independently accessible.

4. The apparatus of claim 1 , wherein verifying the at least one NFT as a function of the data collection comprises:

utilizing a verification module configured to generate a verification datum as a function of the data collection.

5. The apparatus of claim 4 , wherein determining at least one designated utility of the at least one NFT comprises:

utilizing a utility designation machine-learning model configured to correlate the verification datum to a designated utility datum.

6. The apparatus of claim 1 , wherein activating the self-executing action protocol comprises generating a wrapped NFT as a function of the at least one NFT.

7. The apparatus of claim 1 , wherein deactivating the self-executing action protocol comprises destroying a wrapped NFT.

8. The apparatus of claim 1 , wherein the self-executing action protocol is configured to be executed in the decentralized platform.

9. A method for temporarily sharing a non-fungible token (NFT), wherein the method comprises:

receiving, by at least a hardware processor, a data collection, wherein the data collection comprises a plurality of data objects associated with at least one NFT;

verifying, by the at least a hardware processor, the at least one NFT as a function of the data collection;

identifying, by the at least a hardware processor, an in-force time element as a function of the at least one NFT, wherein the in-force time element comprises in-force time duration defined by an in-force start time and an in-force end time;

determining, by the at least a hardware processor, at least one designated utility of the at least one NFT; and

generating, by the at least a hardware processor, a self-executing action protocol configured to be executed on a decentralized platform implementing decentralized finance for interests to the at least one NFT as a function of the in-force time element and the at least one designated utility of the at least one NFT and wherein generating the self-executing action protocol further comprises:

activating the self-executing action protocol for interests to the at least one NFT as a function of the in-force start time; and

deactivating the self-executing action protocol for interests to the at least one NFT as a function of the in-force end time.

10. The method of claim 9 , wherein the at least one NFT comprises:

a fractional NFT comprising a plurality of portions, wherein each portion is independently accessible.

11. The method of claim 9 , wherein the data collection comprises information associated with a transferor and a transferee of the at least one NFT.

12. The method of claim 9 , wherein verifying the at least one NFT as a function of the data collection comprises:

utilizing a verification module configured to generate a verification datum as a function of the data collection.

13. The method of claim 12 , wherein determining at least one designated utility of the at least one NFT comprises:

utilizing a utility designation machine-learning model configured to correlate the verification datum to a designated utility datum.

14. The method of claim 9 , wherein activating the self-executing action protocol comprises generating a wrapped NFT as a function of the at least one NFT.

15. The method of claim 9 , wherein deactivating the self-executing action protocol comprises destroying a wrapped NFT.

16. The method of claim 9 , wherein the self-executing action protocol is configured to be executed in the decentralized platform.