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.

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

Interesting NFTs
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
Crossroad
LIMITED EDITION 1/1 | includes signed limited edition prints of all 3 states (pre-election, Trump win, Biden win) This piece is a first for Nifty, a token that will change based on the outcome of the election. If anything is constant about the times we now live in, it's uncertainty. This uncertainty is perfectly encapsulated in this piece of artwork as the person buying the piece will not know the final artwork. The artwork will be one state at auction before the election, and after the results of the election are known, will forever change to reflect a Trump or Biden win. PLEASE FUCKING NOTE: If trump wins, this token will change to that video of sexy boi king trump stomping through hell FOREVER. I don’t want you coming back to me bitching that you spent $2M* on this and now it’s a video of orangeman going HAM and it’s keeping u up at night popping mad boners. should have voted bruh. *and stfu that this isn’t gonna be worth a fuckton more when I hit 30 years of everydays and have a permanent collection in the MOMA. smh.
Cashew
Uh, hi! I'm Cashew. I've never told anyone this, but I once clawed a dog. It's not common knowledge, but my ancestry connects me to Nelson Mandela. I can't wait to wake you up at 4am for seemingly no reason.
Faceplant
Facebook logo factory. 3D animation, 10-second loop, 30 fps. Created using Cinema4D, X-Particles, TurbulenceFD, Octane, and After Effects. Originally posted on TikTok (@jigpx) on 1/4/21. 38.7m+ views, 2.1m+ likes (as of 4/22/21).
The New York Times x NFT
A digital original of Kevin Roose's New York Times column, "Buy This Column on the Blockchain!" Published 3/24/21.