Smart contracts (blockchains, distributed ledgers) and rights management broadly construed are the themes of today's Spotlight Applications. assigned to Block, Inc. (formerly Square). the first application discloses techniques for managing a sample of a media item using a non-fungible token (NFT) and an associated smart contract. Assigned to Disney, the second application discloses techniques for managing digital asset functionality based on fulfillment of criteria.
20230040545, “Non-fungible tokens for media item samples,” assigned to Block, Inc. (also 20230037770)
Abstract
The present technology pertains to managing a sample of a media item using a non-fungible token (NFT) and an associated smart contract. The present technology includes identifying a portion of the media item as a sample, and creating an NFT referencing assignment of a right associated with the sample of the media item. The NFT has an associated smart contract defining a condition upon satisfaction of which the right associated with the sample will be assigned. The present technology may also include identifying market data of the media item, where the market data includes at least one of a list price and historical sales volume for the media item, and identifying charts data, critical review scores, and social media interaction with the media items. The market data can be used to determine a spot price for the sample of the media item.
20230037296, “Systems and methods to manage digital asset functionality based on fulfillment of criteria,” assigned to Disney.
Excerpt
In some implementations, one or more functionalities of the instruction components may be executed by smart contract(s) recorded on the decentralized ledger. In some implementations, in addition to or alternative to determination of whether the digital wallet includes the specialized digital asset, a determination of whether one or more conditions are fulfilled may be executed by the smart contract(s). Upon determination that the one or more conditions are fulfilled, the smart contract(s) may transmit to the digital asset distribution platform the authorization indication. Upon determination that the one or more conditions are not fulfilled, the smart contract(s) may transmit to the digital asset distribution platform the prevention indication.
