Smart contracts (blockchains, distributed ledgers) and rights management broadly construed are the themes of today's Spotlight Applications. Assigned to Meta Platforms, the first application discloses techniques for transactions associated with non-fungible tokens (NFT) using artificial intelligence (AI) and machine learning (ML). Assigned to Matthew Charles James, the second application discloses techniques for implementing artificially intelligent smart contract escrow service.
According to examples, a system for transacting of virtual assets and/or associated non-fungible tokens (NFT) utilizing artificial intelligence (AI) and machine learning (ML) techniques is described. The system may include a processor and a memory storing instructions. The processor, when executing the instructions, may cause the system to generate a virtual asset; generate a non-fungible token (NFT) associated with the virtual asset; and determine a contractual item to facilitate a transaction for the virtual asset and the non-fungible token (NFT). The processor, when executing the instructions, may then generate a badge associated with the non-fungible token (NFT); receive an appraisal associated with the virtual asset; generate a valuation for the virtual asset based on the appraisal; and facilitate the transaction for the virtual asset and the non-fungible token (NFT) based on the valuation.
20230162173, “System for implementing artificially intelligent smart contract escrow service,” assigned to Matthew Charles James.
The present disclosure provides a system configured to enact an escrow service for transactions between two or more parties, managed by blockchain implemented event-driven artificially intelligent smart contracts. All cryptocurrencies are supported, as well as other assets and services, with specific contract templates provided pre-made for different types of transactions. The funds received from the purchasing party for each managed transaction are locked into a blockchain wallet address created for the specific transaction contract while the two parties enact the transaction, and are only released to the selling party after confirmation and approval from the buying party or after a predetermined amount of time specified in the contract has elapsed.