WO2023067378A1

WO2023067378A1 - System and method for revenue generation and management on a blockchain platform

Info

Publication number: WO2023067378A1
Application number: PCT/IB2021/061441
Authority: WO
Inventors: Manuel Antonio Fernandes; Jyotiba Patil
Original assignee: Manuel Antonio Fernandes; Jyotiba Patil
Priority date: 2021-10-19
Filing date: 2021-12-08
Publication date: 2023-04-27

Abstract

A system for revenue generation and management on a blockchain platform is provided. The system includes a registration module configured to register a plurality of entities on the blockchain platform; an article publishing module configured to publish at least one article and one or more details associated to the corresponding at least one article; an article asset generation module configured to generate a value for the corresponding at least one article published by at least one of the plurality of entities; a non-fungible unique identification generation module configured to generate a unique ID for the corresponding at least one article; a revenue assessment module configured to assess a revenue for the at least one article based on the value generated; a transaction module configured to enable the plurality of entities to transact the at least one article based on a revenue assessed, wherein the transaction is achieved via NFT on the blockchain platform.

Description

SYSTEM AND METHOD FOR REVENUE GENERATION AND MANAGEMENT ON A BLOCKCHAIN PLATFORM

EARLIEST PRIORITY DATE:

This Application claims priority from a Complete patent application filed in India having Patent Application No. 202121047427, filed on October 19, 2021 and titled “SYSTEM AND METHOD FOR REVENUE GENERATION AND MANAGEMENT ON A BLOCKCHAIN PLATFORM”.

FIELD OF INVENTION

Embodiments of the present disclosure relate to revenue generation and management, and more particularly, to a system and method for revenue generation and management on a blockchain platform via non-fungible token (NFT).

BACKGROUND

Revenue is defined as the total amount of income generated by the sale of goods and services related to the primary operations of the business. One such revenue generation way is non-fungible token (NFT) which is described as a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.f i] NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

In a conventional approach, verification and authenticate of ownership of the asset is challenging. In addition, the conventional approach does not allow to lease the articles and generate revenue from them, which makes the conventional approach a liability, thereby making the conventional approach less reliable and less efficient to generate revenue. Hence, there is a need for an improved system and method for revenue generation and management on a blockchain platform to address the aforementioned issues.

BRIEF DESCRIPTION

In accordance with an embodiment of the present disclosure, a system for revenue generation and management on a blockchain platform is provided. The system includes one or more processors. The system also includes a registration module configured to register a plurality of entities on the blockchain platform upon providing entity details. The system also includes an article publishing module configured to publish at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform by at least one of the plurality of entities. The system also includes an article asset generation module configured to generate a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities. The system also includes a non- fungible unique identification generation module configured to generate a unique identification (ID) for the corresponding at least one article. The system also includes a revenue assessment module configured to assess a revenue for the at least one article based on the value generated by the article asset generation module. The system also includes a transaction module configured to enable the plurality of entities to transact the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform using the unique identification generated by the non-fungible unique identification generation module.

In accordance with another embodiment of the present disclosure, a method for managing revenue on a blockchain platform is provided. The method includes registering a plurality of entities on the blockchain platform (20) upon providing entity details. The method also includes publishing at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform by at least one of the plurality of entities. The method also includes generating a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities. The method also includes generating a unique identification (ID) for the corresponding at least one article. The method also includes assessing a revenue for the at least one article based on the value generated. The method also includes enabling the plurality of entities for transacting the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non- fungible token (NFT) on the blockchain platform using the unique identification generated.

To further clarify the advantages and features of the present disclosure, a more particular description of the disclosure will follow by reference to specific embodiments thereof, which are illustrated in the appended figures. It is to be appreciated that these figures depict only typical embodiments of the disclosure and are therefore not to be considered limiting in scope. The disclosure will be described and explained with additional specificity and detail with the appended figures.

BRIEF DESCRIPTION OF DRAWINGS

The disclosure will be described and explained with additional specificity and detail with the accompanying figures in which:

FIG. 1 is a block diagram representation of a system for revenue generation and management on a blockchain platform in accordance with an embodiment of the present disclosure;

FIG. 2 is a block diagram representation of an exemplary embodiment of the system for revenue generation and management of geo location based NFT on the blockchain platform of FIG. 1 in accordance with an embodiment of the present disclosure;

FIG. 3 is a block diagram representation of a processing unit located on a local server or on a remote server in accordance with an embodiment of the present disclosure; and

FIG. 4 is a flow chart representing steps involved in a method for managing revenue on a blockchain platform in accordance with an embodiment of the present disclosure.

Further, those skilled in the art will appreciate that elements in the figures are illustrated for simplicity and may not have necessarily been drawn to scale. Furthermore, in terms of the construction of the device, one or more components of the device may have been represented in the figures by conventional symbols, and the figures may show only those specific details that are pertinent to understanding the embodiments of the present disclosure so as not to obscure the figures with details that will be readily apparent to those skilled in the art having the benefit of the description herein.

DETAILED DESCRIPTION

For the purpose of promoting an understanding of the principles of the disclosure, reference will now be made to the embodiment illustrated in the figures and specific language will be used to describe them. It will nevertheless be understood that no limitation of the scope of the disclosure is thereby intended. Such alterations and further modifications in the illustrated system, and such further applications of the principles of the disclosure as would normally occur to those skilled in the art are to be construed as being within the scope of the present disclosure.

The terms "comprises", "comprising", or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a process or method that comprises a list of steps does not include only those steps but may include other steps not expressly listed or inherent to such a process or method. Similarly, one or more devices or sub-systems or elements or structures or components preceded by "comprises... a" does not, without more constraints, preclude the existence of other devices, sub-systems, elements, structures, components, additional devices, additional sub-systems, additional elements, additional structures or additional components. Appearances of the phrase "in an embodiment", "in another embodiment" and similar language throughout this specification may, but not necessarily do, all refer to the same embodiment.

Unless otherwise defined, all technical and scientific terms used herein have the same meaning as commonly understood by those skilled in the art to which this disclosure belongs. The system, methods, and examples provided herein are only illustrative and not intended to be limiting. In the following specification and the claims, reference will be made to a number of terms, which shall be defined to have the following meanings. The singular forms “a”, “an”, and “the” include plural references unless the context clearly dictates otherwise.

Embodiments of the present disclosure relate to a system and method for managing revenue on a blockchain platform. The system is configured for distributing ownership of any revenue generating asset using blockchain to verify the ownership and in the process, earn proportional revenue for the said asset.

FIG. 1 is a block diagram representation of a system (10) for revenue generation and management on a blockchain platform (20) in accordance with an embodiment of the present disclosure. The system (10) includes one or more processors (30). The system (10) also includes a registration module (40) configured to register a plurality of entities on the blockchain platform (20) upon providing entity details. In one embodiment, the plurality of entities may include one or more users, one or more companies, or a combination thereof. In such embodiment, the entity details may include at least one of, but not limiting to, a name, address, contact details, list of interests, list of professional details, or the like.

In one exemplary embodiment, the plurality of entities may register on the blockchain platform (20) via a computing device such as a laptop, a mobile phone, a tablet, or the like.

Further, the system (10) also includes an article publishing module (50) configured to publish at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform (20) by at least one of the plurality of entities. In one embodiment, the at least one article comprises one of physical goods, virtual goods, services, literary works such as painting, music work, or the like, or a combination thereof. In one example, the at least one article may include billboards, T-shirts, logo, or the like. In one exemplary embodiment, the one or more article details may include, but not limited to, a physical location of the article, dimensions of the article, features of the article, an the like.

More specifically, the plurality of entities who would have registered on the decentralized platform (20) may publish the at least one article they own on the decentralized platform (20) which enable remaining one or more entities to view the published at least one article. In one specific embodiment, the at least one article may be made viewable for all the entities on the decentralized platform (20), or to a selected number of entities based on the entity details.

The system (10) also includes an article asset generation module (60) configured to generate a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities. In one embodiment, the value of the at least one article may be in a form of at least one non-fungible token (NFT). As used herein, the term “non-fungible token (NFT)” is defined as a data unit that can be stored on a blockchain, for an instance, digital ledger, to certify uniqueness of a digital asset, thereby non-interchangeable.

In one exemplary embodiment, the value of the article may be given based on a market value in a pre-defined location which may be generated or defined by the pre-defined set of rules. In such embodiment, the value of the article may be updated at every pre-defined time interval either automatically by the article asset generation module (60) upon retrieving the corresponding data from one or more sources, or by either one or more authorized entities or owner of the at least one article.

Furthermore, the system (10) includes a non-fungible unique identification generation module (70) configured to generate a unique identification (ID) for the corresponding at least one article. In one embodiment, the unique identification (ID) comprises one of a token ID, a quick response (QR) code, a bar code or a random string or characters of a predefined length, or the like.

The system (10) also includes a revenue assessment module (80) configured to assess a revenue for the at least one article based on the value generated by the article asset generation module (60). In one embodiment, the revenue for the corresponding at least one article may be defined by the corresponding plurality of entities based on one of requirement, profit, loss or the like made by the plurality of entities associated to the corresponding article. In one exemplary embodiment, the revenue assessment module (80) may generate the revenue upon retrieving the value generated and one or more requirement of the corresponding entity. In another embodiment, the revenue may be decided by the entity and may be uploaded to the system (10)

The system (10) also includes a transaction module (90) configured to enable the plurality of entities to transact the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform (20) using the unique identification generated by the non-fungible unique identification generation module (70). In one embodiment, the transaction of the at least one article may include one of buying the at least one article on the blockchain platform (20), keeping the at least one article on the blockchain platform (20), renting the at least one article, leasing the at least one article or selling the at least one article on the blockchain platform (20).

In one exemplary embodiment, the at least one non-fungible token (NFT) is in a predefined form in one of a two-dimension or a three-dimension, wherein the pre-defined form comprises one of a character, an image, a multimedia, or a combination thereof which may be used by at least one of the plurality of entities for further transaction of the article.

In one exemplary embodiment, the system (10) may further include an article verification module configured to verify an authenticity of the at least one article published by at least one of the plurality of entities. In one embodiment, the article may be verified based on the one or more article details provided by the corresponding plurality of entities.

In one embodiment, when there is a transfer of ownership of the NFT, a new owner may also purchase this exclusive physical item or items. In this scenario, owning the NFT will give you access to the option of purchasing a particular physical item/items.

For example, a digitally created T-shirt minted and sold as an NFT will come with an identical physical T-shirt. The physical T-shirt will have the t the unique ID printed on it, which links it to its corresponding NFT. When the unique ID is scanned, a webpage where this NFT is stored can be accessed, here the NFT and details can be viewed along with the artwork like, artist statement, ownership history, or the like. In another example, a digitally created logo minted as an NFT’s will give the owners of these NFT’s access to purchase from a particular collection of products. If the entity is not an owner of the product, the entity may not be able to buy these products, this NFT does not belong to the entity.

Furthermore, the system (10) may include a presentation module configured to present the at least one non-fungible token (NFT) in one a virtual reality (VR) form, an augmented reality (AR) form or a mixed reality (MR) form to enable an interaction between the plurality of entities on the blockchain platform (20). In one embodiment, the entities with one of a VR device, an AR device, or an MR device may be able to view any of the at least one non-fungible token (NFT) in the above mentioned form associated to the article.

In one exemplary embodiment, the system (10) may further include an interaction module configured to enable the plurality of entities to interact on the blockchain platform (20). The kind of interaction may be discussion, like, share, comment, or the like associated to the at least one article.

FIG. 2 is a block diagram representation of an exemplary embodiment of the system (100) for revenue generation and management of geolocation based NFT on the blockchain platform of FIG. 1 in accordance with an embodiment of the present disclosure. A plurality of users (110) registers on a blockchain platform (20) via a user device using a registration module (40) upon providing multiple user details. A user device (120) of a user ‘M’ (130) is set to include a map provider to display the NFTs associated to multiple articles placed in multiple locations around the first user (130). The articles may be published by various owners via an article publishing module (50). Further to publication, a non-fungible unique identification generation module (70) generates a QR code for each of the multiple articles and attaches the same to the articles at multiple locations. Consequently, an article asset generation module (60) generates a value for each of the article and a revenue is fixed for the same by a revenue assessment module (80).

Furthermore, upon identifying an article ‘A’ (140) at a location ‘X’ (150) by the user M (130), the user scans the QR code (160) of the article ‘A’ and makes a corresponding transaction to buy the article ‘A’ (140) via a transaction module (90). On purchasing the same, the article A (140) which was hidden until the payment is complete, becomes accessible to the user M (130) on purchase of the same. Now the user M (130) can pick and place the article ‘A’ (140) from location ‘X’ (150) to location ‘Y’ (170). Also, a user ‘N’ (180) who is also registered on the blockchain platform (20) stands next to the article ‘A’ and clicks an image using the user device (120) in which the image is comprised of the user ‘N’ (180) and the article ‘A’ (150).

Furthermore, the system (100), the registration module (40), the article publishing module (50), the article asset generation module (60), the non-fungible unique identification generation module (70), the revenue assessment module (80), the transaction module (90) of FIG. 2 are substantially similar to a system (10), a registration module (40), an article publishing module (50), an article asset generation module (60), a non-fungible unique identification generation module (70), a revenue assessment module (80), a transaction module (90) of FIG. 1.

FIG. 3 is a block diagram representation of a processing unit located on a local server or on a remote server in accordance with an embodiment of the present disclosure. The server (190) includes processor(s) (200), and memory (210) operatively coupled to the bus (220).

The processor(s) (200), as used herein, means any type of computational circuit, such as, but not limited to, a microprocessor, a microcontroller, a complex instruction set computing microprocessor, a reduced instruction set computing microprocessor, a very long instruction word microprocessor, an explicitly parallel instruction computing microprocessor, a digital signal processor, or any other type of processing circuit, or a combination thereof.

The memory (210) includes a plurality of modules stored in the form of executable program which instructs the processor (200) to perform the method steps illustrated in FIG. 4. The memory (210) is substantially similar to the system 10 of FIG.l. The memory (210) has the following modules: a registration module (40), an article publishing module (50), an article asset generation module (60), a non-fungible unique identification generation module (70), a revenue assessment module (80) and a transaction module (90). The registration module (40) is configured to register a plurality of entities on the blockchain platform (20) upon providing entity details. The article publishing module (50) is configured to publish at least one article and one or more details associated to the corresponding at least one article. The article asset generation module (60) is configured to generate a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities. The non-fungible unique identification generation module (70) is configured to generate a unique identification (ID) for the corresponding at least one article. The revenue assessment module (80) is configured to assess a revenue for the at least one article based on the value generated. The transaction module (90) is configured to enable the plurality of entities to transact the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform.

FIG. 4 is a flow chart representing steps involved in a method (230) for managing revenue on a blockchain platform in accordance with an embodiment of the present disclosure. The method (230) includes registering a plurality of entities on the blockchain platform (20) upon providing entity details in step 240.

The method (230) also includes publishing at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform by at least one of the plurality of entities in step 250. In one embodiment, publishing the at least one article may include publishing one of physical goods, virtual goods, services, literary works, or a combination thereof.

Furthermore, the method (230) includes generating a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities in step 260.

The method (230) also includes generating a unique identification (ID) for the corresponding at least one article in step 270. Furthermore, the method (230) includes assessing a revenue for the at least one article based on the value generated in step 280. The method (230) also includes enabling the plurality of entities for transacting the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform using the unique identification generated in step 290. In one embodiment, enabling the plurality of entities for transacting the at least one article may include enabling the plurality of entities for one of buying the at least one article on the blockchain platform, keeping the at least one article on the blockchain platform, renting the at least one article, leasing the at least one article or selling the at least one article on the blockchain platform.

In one exemplary embodiment, the method (230) may further include verifying an authenticity of the at least one article published by at least one of the plurality of entities. The method (230) may further include presenting the at least one non-fungible token (NFT) in one a virtual reality (VR) form, an augmented reality (AR) form or a mixed reality (MR) form to enable an interaction between the plurality of entities on the blockchain platform.

It should be noted that all the elements of FIG. 4 are substantially similar to FIG. 1, henceforth all the embodiments described in FIG. 1 holds good for FIG. 4.

Various embodiments of the present disclosure enable the system to verify and authenticate ownership of the asset easily. In addition, the system allows the owner to lease the articles and generate revenue from them, which makes the system an asset generating means, thereby making the system more reliable and more efficient to generate revenue.

In addition, the revenue generating assets include advertising media assets like newspapers, billboards, websites, static and dynamic advertisements. It also includes stories/reels/posts on digital platforms which can be minted as NFT’s and leased or sold to brands. The revenue generating means also includes real estate such as land, malls, commercial centers, and the like. Furthermore, revenue generating means includes business, machinery, equipment, movies, artworks, music, and the like.

Furthermore, the system provides Immediate liquidity, Royalties on resale of NFT in secondary market and ability to create a new revenue source using their assets as a way to generate revenue without diluting company equity. In addition, the system acts as a type of investment and secondary source of income and also provides ability to get exposure to the revenue generated by the asset invested in.

While specific language has been used to describe the disclosure, any limitations arising on account of the same are not intended. As would be apparent to a person skilled in the art, various working modifications may be made to the method in order to implement the inventive concept as taught herein.

The figures and the foregoing description give examples of embodiments. Those skilled in the art will appreciate that one or more of the described elements may well be combined into a single functional element. Alternatively, certain elements may be split into multiple functional elements. Elements from one embodiment may be added to another embodiment. For example, the order of processes described herein may be changed and are not limited to the manner described herein. Moreover, the actions of any flow diagram need not be implemented in the order shown; nor do all of the acts need to be necessarily performed. Also, those acts that are not dependent on other acts may be performed in parallel with the other acts. The scope of embodiments is by no means limited by these specific examples.

Claims

/ WE CLAIM:

1. A system (10) for revenue generation and management on a blockchain platform (20), wherein the system comprises: one or more processors (30); a registration module (40) operable by the one or more processors (30), and configured to register a plurality of entities on the blockchain platform (20) upon providing entity details; an article publishing module (50) operable by the one or more processors (30), and configured to publish at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform (20) by at least one of the plurality of entities; an article asset generation module (60) operable by the one or more processors (30), and configured to generate a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities; a non-fungible unique identification generation module (70) operable by the one or more processors (30), and configured to generate a unique identification (ID) for the corresponding at least one article; a revenue assessment module (80) operable by the one or more processors (30), and configured to assess a revenue for the at least one article based on the value generated by the article asset generation module (60); and a transaction module (90) operable by the one or more processors (30), and configured to enable the plurality of entities to transact the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform (20) using the unique identification generated by the non-fungible unique identification generation module (70).

2. The system (10) as claimed in claim 1, wherein the at least one article comprises one of physical goods, virtual goods, services, literary works, or a combination thereof.

3. The system (10) as claimed in claim 1, wherein the unique identification (ID) comprises one of a token ID, a quick response (QR) code, a bar code or a random string or characters of a pre-defined length.

4. The system (10) as claimed in claim 1, wherein the transaction of the at least one article comprises one of buying the at least one article on the blockchain platform (20), keeping the at least one article on the blockchain platform (20), renting the at least one article, leasing the at least one article or selling the at least one article on the blockchain platform (20).

5. The system (10) as claimed in claim 1, wherein the at least one non-fungible token (NFT) is in a pre-defined form in one of a two-dimension or a three-dimension, wherein the pre-defined form comprises one of a character, an image, a multimedia, or a combination thereof.

6. The system (10) as claimed in claim 1, comprising: an article verification module operable by the one or more processors (30), and configured to verify an authenticity of the at least one article published by at least one of the plurality of entities; and a presentation module operable by the one or more processors (30), and configured to present the at least one non-fungible token (NFT) in one a virtual reality (VR) form, an augmented reality (AR) form or a mixed reality (MR) form to enable an interaction between the plurality of entities on the blockchain platform (20).

7. A method (230) for managing revenue on a blockchain platform comprising: registration, by a registration module, a plurality of entities on the blockchain platform (20) upon providing entity details; (240) publishing, by an article publishing module, at least one article and one or more details associated to the corresponding at least one article, on the decentralized platform by at least one of the plurality of entities; (250) generating, by an article asset generation module, a value for the corresponding at least one article published by at least one of the plurality of entities based on a pre-defined set of rules defined by one or more authorized entities; (260) generating, by a non-fungible unique identification generation module, a unique identification (ID) for the corresponding at least one article; (270) assessing, by a revenue assessment module, a revenue for the at least one article based on the value generated; and (280) enabling, by a transaction module, the plurality of entities for transacting the at least one article based on a revenue assessed, wherein the transaction is achieved via at least one non-fungible token (NFT) on the blockchain platform using the unique identification generated. (290)

8. The method (230) as claimed in claim 7, wherein publishing the at least one article comprises publishing one of physical goods, virtual goods, services, literary works, or a combination thereof.

9. The method (230) as claimed in claim 7, wherein enabling the plurality of entities for transacting the at least one article comprises enabling the plurality of entities for one of buying the at least one article on the blockchain platform, keeping the at least one article on the blockchain platform, renting the at least one article, leasing the at least one article or selling the at least one article on the blockchain platform.

10. The method (230) as claimed in claim 7, comprising: verifying, by an article verification module, an authenticity of the at least one article published by at least one of the plurality of entities; and presenting, by a presentation module, the at least one non-fungible token

(NFT) in one a virtual reality (VR) form, an augmented reality (AR) form or a mixed reality (MR) form to enable an interaction between the plurality of entities on the blockchain platform.