SYSTEMS AND METHODS FOR GOVERNING USE RIGHTS OF DIGITAL ASSETS ACROSS HETEROGENEOUS VIRTUAL PLATFORMS

Smart overview of the Invention

The proposed system facilitates the transfer of digital assets between various virtual platforms by converting fungible digital assets into non-fungible tokens (NFTs). This conversion process involves generating a cryptographic token for the asset and recording it on a blockchain ledger. The NFT is then transferred through an intermediate computing node to the desired platform, ensuring that the user retains control over their digital assets across different environments.

Technical Context

The invention addresses challenges in transitioning from centralized Web2.0 platforms to decentralized Web3.0 environments. Traditional Web2.0 systems often restrict users' ability to transfer or trade digital assets, while Web3.0 aims to decentralize ownership using blockchain technology. This system bridges these two worlds, allowing users to maintain ownership and control of their digital assets while interacting with various platforms.

Challenges in Current Systems

Web2.0 companies have been hesitant to adopt portable NFTs due to logistical and economic challenges. These include the need for frequent blockchain queries, potential impacts on user experience, and interoperability issues as software evolves. Additionally, the economic implications of allowing asset portability across platforms can disrupt existing business models.

Benefits of the Proposed System

The system offers users the ability to engage with open marketplaces and ensure asset exclusivity without the drawbacks of repeated blockchain queries or time-consuming file transfers. By implementing a Web2.5 intermediary system, it provides a stable bridge between open Web3.0 environments and more closed Web2.0 systems, balancing speed and openness.

Terminology Clarification

In this context, Web3.0 digital assets are synonymous with blockchain-recorded or tokenized assets, commonly referred to as NFTs. These assets are owned by end users, including rights to associated content. Conversely, Web2.0 assets are often locked within platform-specific ecosystems and may be termed virtual goods or non-blockchain digital assets.