Financial World, July 1, 2025 – According to disclosures from the China National Intellectual Property Administration, Lianlianrong Digital Technology Group Co., Ltd. has filed a patent titled "On-Chain Redemption Method, Apparatus, Device, and Medium for NFT Digital Assets" (Publication No. CN120235712A). The patent was submitted on May 2025.
Patent Overview
The invention pertains to blockchain technology and introduces a systematic approach for NFT digital asset redemption on-chain. Key innovations include:
Priority Model Construction:
- Utilizes a bucket model structure to create a redemption priority model, explicitly defining redemption hierarchies and proportional distributions.
Blockchain-Embedded Metadata:
- Stores priority information within NFT metadata on-chain, ensuring lifecycle-wide consistency and verifiability of redemption sequences.
Smart Contract Automation:
- Deploys smart contracts to periodically scan for redemption fund deposit events.
- Triggers on-chain redemption via dedicated contracts, adhering to predefined priority rules, enhancing efficiency and security.
About Lianlianrong
Founded in 2016 and headquartered in Shenzhen, Lianlianrong Digital Technology Group specializes in software and IT services. Key corporate details:
- Registered Capital: ¥235.65539 million
- Investments: 14 affiliated enterprises
- Tender Projects: 27 participations
- Intellectual Property: 486 trademarks, 7 patents, 14 administrative licenses
FAQs
Q1: How does the priority model improve NFT redemption?
A1: By structuring redemption tiers and ratios mathematically, the model eliminates ambiguity, ensuring transparent and conflict-free asset distributions.
Q2: Why store priority data on-chain?
A2: On-chain metadata guarantees immutable audit trails, preventing tampering and ensuring all parties adhere to agreed-upon sequences.
Q3: What role do smart contracts play?
A3: They automate fund verification and disbursement, reducing manual intervention and accelerating settlement cycles.
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Source: Financial World
Author: Intelligence Officer
Disclaimer: Content is sourced from third-party platforms and stored for informational purposes.
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