PayPal applies for NFT market patent for on- or off-chain asset buying and selling

PayPal (NASDAQ:) made main progress towards creating its personal blockchain ecosystem by submitting a patent utility for a nonfungible token (NFT) buy and switch system. The appliance, filed in March and revealed Sept. 21, describes a method of finishing up transactions with NFTs, each on- and off-chain.

The patent utility, which remains to be pending, describes a system the place customers can purchase and promote NFTs via a third-party service supplier. That supplier shouldn’t be specified, although is talked about within the textual content.

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