PayPal files patent application for NFT marketplace

The payments giant PayPal направил на регистрацию four patent applications for registration for the launch of solutions related to NFT, L2 and метавселенными.

Token transactions are expected to occur on-chain and off-chain through an unnamed third-party service provider. The document mentions Ethereum.

PayPal aims to harness the full potential of NFTs for tokenization:

“Актив в этом примере может представлять собой любую уникальную часть цифровых данных, которую можно отслеживать с помощью децентрализованного блокчейн-реестра. […] Примерами таких активов являются […] цифровые изображения и видео, музыка, предметы коллекционирования и другое искусство, а также документы на личную собственность, билеты на мероприятия, договоры и другие предметы реального мира”.

The system can be configured in various ways. In particular, to enable fractional purchases through the distribution of governance-токенов. Subsequently, trading of the latter could be launched.

Also among the options is the use of a “service-provider ДАО to boost NFT liquidity via a dedicated platform.” The tokens may provide for royalty income.

The provider’s processing allows for the inclusion of compliance requirements and risk management. For users, owning their own digital wallets may be possible but not required.

A third-party broker as an alternative may offer various token storage options and order placement. Off-chain transactions are processed within a “universal wallet” linked to the service provider and containing both buyer and seller wallets:

“Таким образом, подобный перевод не находит отражение в блокчейне. Нет необходимости транслировать транзакцию в сеть или оплачивать сборы за газ”.

According to the application, any currency may be used in the system.

In September PayPal запустил a service converting digital assets to fiat.

Previously the payments giant добавил added the ability to buy, sell and transfer cryptocurrencies via a mobile app. The service supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

In August, the company объявила о запуске a USD-backed stablecoin PYUSD on Ethereum. The issuer of the coin was the infrastructure blockchain company Paxos.

The asset вызвал противоречивую реакцию among crypto-community participants. Some believed PYUSD would foster broad adoption of digital assets, while others warned of centralization risks.