US Patent Issued to Wells Fargo Bank on Aug. 26 for "Systems and methods for tracking NFT-backed instruments" (California, North Carolina Inventors)

ALEXANDRIA, Va., Aug. 26 -- United States Patent no. 12,400,221, issued on Aug. 26, was assigned to Wells Fargo Bank N.A. (San Francisco).

"Systems and methods for tracking NFT-backed instruments" was invented by Ananth Kendapadi (Charlotte, N.C.) and Maxwell Williams (San Francisco).

According to the abstract* released by the U.S. Patent & Trademark Office: "Systems, apparatuses, methods, and computer program products are disclosed for tracking NFT-backed instruments. An example method includes identifying a plurality of NFTs on a distributed blockchain ledger, associating an instrument with the cryptographic NFTs, determining a value of the cryptographic NFTs based on transactions on the distributed blockchain ledger that are associated...