What 1,500+ NFT-related Patent Applications Reveal About Big Brands
What 1,500+ NFT-related Patent Applications Reveal About Big Brands
I looked at 1500+ NFT-related patent applications from the last 4 years. Here's what big brands are up to.
Dear Readers,
Welcome to another data-driven deep dive. Today we examine NFTs through four years of patent applications from major companies.
Before we jump into the findings, a word of auction:
Patents ≠ Innovation. Our patent system has flaws, like encouraging patent trolls and limiting idea-sharing.
Only a small share of these patents ever become real products.
Still, patents offer valuable insight. By studying them, we glimpse what large brands might be plotting for the future. That's what this analysis aims to show.
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Key Findings
Patents span diverse industries like finance, gaming, and media.
Quiet innovation: Some of the brands on the list have not yet publicly announced any Web3-related projects
Leading the pack: Bank of America, Nike, eBay, Shopify, Sony, Disney, Snap, and Meta top the NFT patent charts.
Nike's early entry: Dominating filings until mid-2022, Nike had its eyes on Web3 as early as 2019.1 For more, see my Nike case study.
Ebb and flow: NFT patent filings peaked in March 2023 and declined by summer.
Notable patents from big brands
🌐 Meta
"Native Building and Minting of Non-Fungible Tokens on a Blockchain" - 4.5.2023 (PCT/US2022/048315)
🎮 Sony
"Fractional Non-Fungible Token for Game Related Digital Assets" – 04.05.2023 (17514452)
"NFT Framework for Transferring and Using Digital Assets Between Game Platforms" – 16.03.2023 (PCT/US2022/076251)
"Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger" – 10.11.2022 (PCT/US2022/024670)
🛒 Ebay
"Digital Twin NFT Listing" – 09.03.2023 (17468963)
🏰 Disney
"Acquisition and Use of Multi-Platform Portable Non-Fungible Token Credits" – 02.03.2023 (17895932)
📱 Samsung
"Method and Device for NFT-Based Software" – 23.02.2023 (17882980)
🏦 Bank of America
"System for Generating Stacked Non-Fungible Tokens on a Collaborative Technical Platform" – 08.12.2022 (17338273)
👻 Snap
"Displaying Virtual Digital Objects Generated Using Blockchain Technology" – 03.11.2022 (PCT/US2022/025571)
🚗 Mercedes-Benz
"Method for Minting and Using Vehicle-Related Non-Fungible Tokens, and Information Technology System" – 31.08.2023 (WO2023160917)
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To review patent application details, paste the publication number (e.g., WO2023160917) here.
Here you can view the raw data on Google Sheets.
That’s it for now.
– Marc
PS: Shoutout to Ludo.com & Sergiu Draganus for providing the initial stock of raw data. 🙏
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In 2019, Nike secured a patent for the blockchain-based CryptoKicks, one of the first virtual, blockchain-based sneakers.