US 12,170,803 B2
Non-fungible tokens for media item samples
Jesse Dorogusker, Palo Alto, CA (US); Pål Berg, Hyggen (NO); Agustina Sacerdote, Mill Valley, CA (US); Tait Svenson, Lafayette, CA (US); Kirupa Pushparaj, Palo Alto, CA (US); and Anders Herning, San Francisco, CA (US)
Assigned to Block, Inc., Oakland, CA (US)
Filed by Block, Inc., Oakland, CA (US)
Filed on Sep. 6, 2022, as Appl. No. 17/903,554.
Application 17/903,554 is a continuation of application No. 17/725,474, filed on Apr. 20, 2022.
Claims priority of provisional application 63/177,323, filed on Apr. 20, 2021.
Prior Publication US 2023/0040545 A1, Feb. 9, 2023
Int. Cl. H04N 21/2743 (2011.01); G06F 3/16 (2006.01); G06Q 20/12 (2012.01); G06Q 30/0283 (2023.01); G06Q 30/0601 (2023.01); G06Q 50/00 (2024.01); H04L 51/52 (2022.01); H04L 65/612 (2022.01); H04N 21/2187 (2011.01); H04N 21/236 (2011.01); H04N 21/2385 (2011.01); H04N 21/239 (2011.01); H04N 21/478 (2011.01); H04N 21/61 (2011.01)
CPC H04N 21/2743 (2013.01) [G06F 3/165 (2013.01); G06Q 20/123 (2013.01); G06Q 30/0283 (2013.01); G06Q 30/0641 (2013.01); G06Q 50/01 (2013.01); H04L 51/52 (2022.05); H04L 65/612 (2022.05); H04N 21/2187 (2013.01); H04N 21/23614 (2013.01); H04N 21/2385 (2013.01); H04N 21/2393 (2013.01); H04N 21/47815 (2013.01); H04N 21/6125 (2013.01); G06Q 2220/00 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method comprising:
extracting a portion of a media item as a first sample of the media item, wherein the media item is a live media stream associated with a creator of the media item;
creating a first non-fungible token (NFT) referencing an assignment of a right associated with the first sample of the media item, the first NFT having a smart contract defining a condition upon satisfaction of which the right associated with the first sample will be assigned, the condition being that an acquirer of the first NFT has paid a spot price for the first NFT;
estimating one or more performance indicators associated with the spot price of the first NFT;
surfacing at least one performance indicator of the one or more performance indicators to the creator;
receiving a target value for the media item from the creator based on the at least one performance indicator; and
conducting a transaction based on the smart contract responsive to the spot price meeting or exceeding the target value and the condition defined within the smart contract being met, wherein the transaction is transferring the first NFT, wherein a first portion of the paid spot price is distributed to the creator of the media item and associated contributors of the first sample responsive to playback of the first sample, wherein a second portion of the paid spot price is retained by a minter of the first NFT, and wherein the first portion and the second portion are defined in the smart contract.