CPC G06F 21/16 (2013.01) [G06F 16/61 (2019.01); G06F 16/686 (2019.01); G06F 3/0482 (2013.01); G06F 21/1078 (2023.08)] | 21 Claims |
1. A method for initiating a royalty percentage calculation with a minting process of a non-fungible token (NFT) associated with media content, the method comprising:
tracking, via a digital vault, a creation and collaboration phase of generating media content, wherein the creation and collaboration phase comprises at least two media content creators of different portions of the media content;
determining, via the digital vault, a first percentage of ownership of the media content to a first media content creator and a second percentage of ownership of the media content to a second media content creator based on the creation and collaboration phase of generating the media content;
storing the first percentage of ownership of the media content and the second percentage of ownership of the media content with the media content in the digital vault;
identifying, via the digital vault, the media content in a request from an NFT creator to utilize the media content in the NFT;
initiating the minting process with the media content that converts digital data associated with the media content into digital assets recorded on a blockchain, wherein the minting process records royalty percentages with the NFT, and wherein the royalty percentages recorded with the NFT during the minting process comprise the first percentage of ownership of the media content and the second percentage of ownership of the media content based on the creation and collaboration phase of generating the media content;
storing the digital data in a distributed ledger or decentralized database that cannot be edited, modified, or deleted;
upon completion of the minting process, initiating, via the digital vault, one or more payment transactions to accounts associated with one or more user devices associated with the media content or the NFT in accordance with the royalty percentages of the media content; and
transmitting an alert to the NFT creator, the first media content creator, the second media content creator, and other rights holders associated with the one or more payment transactions to the accounts.
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