09/07/2021 First Patent Being Auctioned as an NFT Adds Unlockable License and Litigation Prospects Content

Innovative patent, currently listed on the OpenSea platform, introduces an entirely new use for NFT unlockable content

NEW CANAAN, Conn. & NEW YORK--(BUSINESS WIRE)--True Return Systems LLC and Boag Law PLLC are auctioning U.S. Patent No. 10,025,797 (“the Patent”) on the blockchain in the form of an NFT (Non-Fungible Token). This revised auction is currently active, and is available here. The patent (viewable here) is the first known sale of a patent via an NFT.

Today, True Return and Boag Law are announcing that the NFT currently up for auction now includes unlockable and actionable licensing and litigation content to assist the buyer’s rapid deployment of the Patent in a portfolio or a business operation.

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The unlockable content is expected to provide the buyer with both a roadmap and running start relating to the Patent and blockchain developments over the past several years. The buyer will unlock litigation work product and documentation on 15 products, platforms and companies relating to the Patent’s invention. Interested bidders are encouraged to visit the True Return Systems LLC website for additional information here.

With the Patent NFT, the purchaser will receive an executed agreement, transferring to the purchaser all of True Return’s right, title, and interest in and to the Patent. This includes True Return’s right to sue for past, present, and future infringement of the Patent and to collect for damages from past infringement of the Patent.

The Patent’s 2018 grant represents some of the earliest foundational work integrating “real world” applications and “off-chain” data on to new and existing blockchains and ledgers in a fast, reliable, auditable, and environmentally responsible manner.

This offering continues to present an opportunity to participate in what looks to be the first sale of a patent via blockchain NFT, and further presents a historically significant opportunity to acquire a pioneering blockchain patent through blockchain technology. The auction’s novel use of unlockable content is expected to expand the uses and markets for NFTs.

The Patent

The Patent is based on pioneering and foundational work which continues to be uniquely forward-looking with expected benefits to many businesses and industries including healthcare, pharma, global trade, financial services, and data sciences. The Patent’s combination of “on-chain” and “off-chain” storage and processes relate to advances in both the on-chain digital and cryptocurrency worlds, and the natively off-chain worlds of trade, manufacturing, and banking.

The general approach of the ’797 Patent employs layered processing and data storage, where new or pre-existing blockchains or ledgers can reflect the performance of an outside event, observation, or price. The Patent improves previous blockchain systems by moving functionality and storage off the blockchain while simultaneously allowing the blockchain to utilize off-chain data to update transaction records on the blockchain.

ESG and Climate

There is also an important ESG climate component to the Patent. Filed in early 2018, the Patent was already addressing the inefficiencies of certain blockchain validation processes. Broader advancement of certain blockchain sciences risks exacerbating crypto’s current environmental challenges. The Patent presents streamlined and trusted processes and storage systems to address the issues of today and tomorrow, and its technology should be a core component of socially responsible blockchain systems going forward.

About True Return Systems LLC and Boag Law PLLC.

True Return Systems LLC is a financial-technology consulting company operating in Connecticut with ownership in a range of technology, ledger and fintech properties. Boag Law PLLC is a boutique intellectual property law practice that serves clients in litigation, licensing, prosecution, and monetization matters related to patents and trademarks.

Arts

https://www.businesswire.com/news/home/20210707005127/en/First-Patent-Being-Auctioned-as-an-NFT-Adds-Unlockable-License-and-Litigation-Prospects-Content

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Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great José Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
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Each day, a new composition for the Master is generated autonomously using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer. Astute viewers will surmise the day's price volatility simply by examining the artwork. While the daily image generation is the result of autonomous API calls, utilizing an algorithm the artist wrote, the artist has chosen to retain a control token. This token allows him to fine-tune variables associated with his algorithm, in addition to addressing aesthetic concerns within the life-cycle of the artwork. Layer state, alpha, hue, saturation, and brightness are elements the artist has retained control of in order that this artwork remain a living work-in-progress. An earlier iteration of this artwork was featured as a nightly projection mapping video on the face of the Daniels Fisher Clocktower, as part of ETH Denver 2020. Access to this and additional exclusive content awaits the master token owner at the artist's NFT Portal: https://collect.mattkane.com/minted-works/right-place-right-time-bitcoin-hourly-price-offset/
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Just as the book speaks to intelligence, the image in all its muteness speaks to the heart.