MUMBAI, India, May 1 -- Intellectual Property India has published a patent application (202641051650 A) filed by Bvrit Hyderabad College Of Engineering For Women; and G Monika Rani, Hyderabad, Telangana, on April 23, for 'algomint studio- an algorand based minting decentralized application (dapp).'
Inventor(s) include G Monika Rani; Singireddy Samanvitha; Mandadi Bhavika; Cheerla Sai Vidya; and Chakkirala Harshitha.
The application for the patent was published on May 1, under issue no. 18/2026.
According to the abstract released by the Intellectual Property India: "When utilizing centralized platforms, individuals frequently take the work of both artists and digital creators (both use the same platform). A recommended option provides users with a way to create and manage their digital assets in a secure manner using a decentralized application (DApp) that runs on the Algorand Blockchain. This system allows users the ability to create one-of-a-kind digital assets by creating Algorand Standard Assets (ASAs) which represent NFTs on the Algorand network. Each of these NFTs cannot be changed and contain a content identifier (CID) that connects them back to the blockchain when stored within Pinata or the InterPlanetary Files System (IPFS) therefore proving ownership.The system maintains its information structure through the ARC-69 metadata standard which enables direct asset detail embedding into blockchain transactions. The application provides a decentralized marketplace that allows users to sell their NFTs while buyers can make purchases using blockchain transactions. The system transfers NFT ownership to the buyer's wallet immediately after the purchase process ends. The proposed system establishes digital creator ownership protection through its main features of blockchain security and decentralized storage and smooth asset transfer which establish digital asset authenticity and transparent ownership records."
Disclaimer: Curated by HT Syndication.
