DK Crown Holdings, a pioneering company in the field of digital contest platforms, has recently been granted a patent that seeks to revolutionize the way contests are conducted using special digital tokens called Non-Fungible Tokens (NFTs). The patent, with the title "Automatic generation of non-fungible token attributes" and number US11865459B1, addresses the core problem of efficiently managing and processing a large number of mobile devices in content management systems.
The advent of digital contests has brought forth challenges in allocating and utilizing computing resources for effective communication and data processing. As more and more mobile devices participate, the finite resources of memory and processing power become strained. This creates a significant obstacle in appropriately distributing and processing information from a large number of devices.
The patent presents an ingenious solution to these issues by implementing contests based on the individual properties of NFTs. It allows participants to enter the contest by choosing specific tokens, each of which is linked to the player's profile and subject to certain rules. Moreover, the invention enables the creation of token-based teams according to predefined rules. In the event of a tie, the patent introduces a special tie-breaking system to determine the winner. Additionally, if a participant acquires a new token during the contest, the system dynamically adjusts their team to include the newly acquired asset.
Once this patent is implemented, the world of contests will witness a transformative change. Participants will have the opportunity to engage in contests using NFTs as tokens, which possess unique attributes. For example, in a sports-themed contest, participants can choose NFTs denoting different athletes, each equipped with individual attributes. The scoring system will account not only for individual statistics but also for team performance, providing a more comprehensive and exciting gaming experience.
The improved scoring system, made possible by this patent, offers enhanced processing efficiency and optimized bandwidth utilization compared to existing systems. The patent's novel approach allows for faster processing by storing attributes associated with NFTs in local storage at the start of the contest, instead of continuously accessing the blockchain. This not only improves efficiency but also enhances the overall user experience.
The invention also addresses the challenge of tie-breakers in contests with indivisible awards. Existing systems often rely on divisible rewards, such as credit value, thereby dividing awards among tied participants. However, this approach proves incompatible with contests involving NFTs as indivisible awards. The patent's tie-breaking functionality provides a fair and effective solution to determine the winner in such scenarios.
Real-life examples of the potential applications of this patent are vast. Imagine a virtual trading card contest where participants build teams of NFT cards representing their favorite athletes. The teams' performance would be based on the athletes' real-life achievements and their interactions with other team members. Similar contests could be created for different domains, such as fantasy sports or in-app gaming.
It's important to note that this patent represents an exciting development in the field of digital contests, but there is no guarantee that it will necessarily appear on the market. However, given the innovative nature of this patent and the potential it holds for revolutionizing the contest experience, it is undoubtedly a noteworthy advancement in this evolving domain.
P.S. This article is based on a recently published patent titled "Automatic generation of non-fungible token attributes" (patent number US11865459B1). While the patent showcases an innovative solution to the challenges in digital contests, it is important to highlight that there is no certainty regarding its future availability in the market.