SYSTEM AND METHOD TO MANAGE DIGITAL ASSETS

Smart overview of the Invention

A system for managing digital assets has been developed, focusing on the automated distribution of royalties and fundraising through Non-Fungible Tokens (NFTs). Utilizing blockchain technology, smart contracts, and a unique algorithm, this system enhances the creation, valuation, and distribution of NFTs, particularly in relation to social media entities. By addressing existing challenges, it aims to improve transparency and efficiency in the management of digital assets.

Challenges in Current Systems

Current digital asset management systems face several issues, including scalability with increasing user transactions and privacy concerns that conflict with blockchain's transparency. The process of minting NFTs, assigning copyrights, and determining royalties lacks seamless integration within social networks. Additionally, regulatory compliance is complex, necessitating a more effective approach to managing digital assets within these environments.

Components of the Proposed System

• Blockchain-Based Compliance Module: Tracks transaction-related data and ensures compliance with applicable laws across jurisdictions.
• Royalty Distribution Module: Calculates and assigns royalties during the minting process of NFTs based on predefined percentages in smart contracts.
• Fundraising Module: Facilitates fundraising by minting dynamic NFTs linked to brand-sponsored posts and regular social media content.
• Score Generation Module: Analyzes social media voice (SMV) scores to recommend sale prices for NFTs based on historical data.
• Management Module: Creates and manages digital wills for digital assets using NFT technology.

Methodology for Asset Management

The method involves tracking transaction-related sources and storing relevant data on the blockchain. Compliance with legal regulations is ensured through the blockchain-based compliance module. Royalties are calculated and distributed during NFT minting, while fundraising efforts are enhanced through dynamic NFT creation. The system also evaluates social media voice scores to determine optimal pricing for digital assets.

Conclusion

This innovative approach to managing digital assets leverages blockchain technology to streamline processes related to royalties, fundraising, and asset management. By integrating various modules that address compliance, distribution, and valuation, the system provides a comprehensive solution tailored to the unique challenges posed by social media environments.