GENERATING VIRTUAL DIGITAL OBJECTS USING BLOCKCHAIN TECHNOLOGY

• Main Authors: Tham, Yu Jiang, Monroy-Hernández, Andrés, Cardenas Gasca, Ana Maria
• Format: Patent
• Language: English
• Published: 03.11.2022
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; IMAGE DATA PROCESSING OR GENERATION, IN GENERAL; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

A system and method for creating a virtual digital object comprising a plurality of components includes receiving from a user selections of a plurality of components for use in creating the virtual digital object. Each component has a cost designated in cryptocurrency that is presented for acceptance by the user. Upon acceptance, a cost tally for the virtual digital object is updated. Upon completion, the virtual digital object is minted by subtracting a total cost tally in cryptocurrency from a digital wallet of the user and by interacting with a smart contract including the virtual digital object and metadata relating to at least one of valuation of the virtual digital object, creation of the virtual digital object, and rules governing use and ownership of the virtual digital object. The minted virtual digital object is added to the user's digital wallet and optionally uploaded to an online gallery for purchase.