System and method for retrieval and verification of NFT ownership

US11823088B1 · kind B1 · utility

Assignee

• Alchemy Insights, Inc. · US

Inventors

• Benjamin Godlove · Arlington, US
• Ram Bhaskar · New York, US
• Niveda Krishnamoorthy · San Francisco, US
• Bill Zhu · San Francisco, US
• Alex Miao · San Francisco, US
• Omar Ceja · San Francisco, US
• Josh Zhang · New York, US
• Andrew Yang · 安丰镇, CN

Key dates

• Filing date: May 2, 2023
• Grant date: Nov 21, 2023
• Expiry date: May 2, 2043

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods for fast and efficient retrieval of NFT ownership information are provided. An exemplary method includes initializing a mirror blockchain by making a copy of an NFT blockchain; initializing an ownership transaction table and an NFT ledger from a mirror NFT blockchain by processing the mirror blockchain from a beginning block to an end block; periodically update the mirror blockchain with new blocks from an NFT blockchain thereby forming a new end block; processing ownership transaction events that modify NFT ownership in the new blocks up to a fixed offset from the new end block; updating the ownership transaction table; updating the NFT ledger; receiving a request for all NFTs owned by a crypto-wallet address; generating a response with the NFTs owned by the crypto-wallet address from the NFT ledger; selecting an NFT group; and verifying the NFT ledger against the NFT blockchain ownership.