System and method for bidding on an asset in progress
US11481815B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 2, 2022 |
| Grant date | Oct 25, 2022 |
| Priority date | — |
| Expiry date | Mar 2, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/389
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The Bidding on an Asset in Progress (BAIP) system allows live, real-time bidding on a work (song, artwork, invention, story, concept, etc.) during its inception and evolution. The system captures video and/or audio of the work and/or artist during inception and creation and/or production of the work. The live performance in the auction can take place in a metaverse. Depending on how the artist/musician/creator sets up an auction, fans can bid on digital representations of versions and/or parts of the work, the recorded video and/or audio of the work being created, the physical work created, specific copyright rights, and supplemental assets associated with the work or the artist/musician/creator. Such a system enables bidding on any number of combinations of assets captured, created, or modified during one or more auctions. Fans can band together to bid on any asset and establish fractionalized ownership that is optionally governed through a DAO. After completion of the work and auction, ownership of the asset(s) is preferably transferred through NFTs and the winning bidder(s) receives the finished asset(s) (digital and/or physical).
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.