Invention Grant
- Patent Title: System and process for tokenization of digital media
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Application No.: US15402209Application Date: 2017-01-09
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Publication No.: US10915874B2Publication Date: 2021-02-09
- Inventor: Shannon Code , Sean Dennis , Gregory Simon
- Applicant: LOYYAL CORPORATION
- Applicant Address: US NY New York
- Assignee: LOYYAL CORPORATION
- Current Assignee: LOYYAL CORPORATION
- Current Assignee Address: US NY New York
- Agency: Goodwin Procter LLP
- Main IPC: H04L29/06
- IPC: H04L29/06 ; G06Q20/06 ; H04L9/32 ; G06F21/10 ; G06Q20/36 ; G06F21/64 ; G06Q20/12 ; H04L9/08

Abstract:
A system and process for converting a digital media file into a digital token is disclosed. The embodiments modify a digital media file so that a set of rules are attached to the digital media file creating a digital token, which can be used to persist the digital media file through a network. In an exemplary embodiment, the network is a distributed ledger or blockchain based network that securely tracks distribution of the digital media file. The digital token may have a value added to it or value may intrinsically exist as the digital token is persisted through the network. The value associated with distribution of the digital media file may be used to reward the owner of the digital media file, distributors of the token, or as an incentive program for commercial transactions and non-commercial transactions.
Public/Granted literature
- US20170214522A1 SYSTEM AND PROCESS FOR TOKENIZATION OF DIGITAL MEDIA Public/Granted day:2017-07-27
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