SYSTEMS AND METHODS FOR ENABLING NON-FUNGIBLE TOKENS (NFTs) IN A VIRTUAL/METAVERSE ENVIRONMENT

Smart overview of the Invention

Systems and methods are introduced to facilitate non-fungible tokens (NFTs) within virtual or metaverse settings. By linking an NFT marketplace to these environments, users can display, sell, broker, and trade NFTs based on shared interests. A weighted taxonomy derived from the NFTs displayed helps gauge user interests, allowing for tailored interactions and transactions.

User Interest Matching

The process begins by evaluating a new user's interests, particularly in relation to NFTs they already own. This evaluation employs various methods, such as analyzing shared characteristics with existing NFTs in the taxonomy. Once a match is identified, users receive guidance on where their avatars can meet others who share similar NFT interests, enhancing the social aspect of trading.

Facilitating Transactions

To streamline NFT transactions, the system may designate separate servers and locations for meetings and discussions about buying or selling NFTs. When a transaction occurs, it is securely recorded on the blockchain, ensuring transparency and trust between buyers and sellers. The NFT marketplace can also serve as an intermediary to safeguard both parties during exchanges.

Brokerage and Delegation

Users have the option to delegate the sale or trade of their NFTs to brokers. Owners can specify which NFTs are available for brokering and define the rights of brokers regarding display and negotiation. This flexibility allows for various levels of control over how NFTs are traded, with some agreements requiring owner approval before finalizing transactions.

Challenges in the Metaverse

Despite the growing popularity of NFTs, their integration into virtual and metaverse environments remains nascent. Unique challenges arise in these immersive spaces that require robust systems for conducting transactions effectively. The outlined methods aim to address these challenges by providing a structured approach to NFT interactions in 3D social worlds.