Block had four patents in metaverse during Q2 2024. Block Inc is implementing extended reality (XR) storefronts where digital representations of items offered for sale by a merchant are positioned within a virtual space for customers to access via electronic devices. Additionally, a computer-implemented method involves maintaining information about digital assets, generating reward configurations based on transaction activity, processing payments for POS transactions, distributing digital assets to user accounts based on payment amounts, and updating internal ledgers to assign digital assets to user accounts. GlobalData’s report on Block gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Block had no grants in metaverse as a theme in Q2 2024.
Recent Patents
Application: Extended reality storefronts (Patent ID: US20240161178A1)
Block Inc. has filed a patent for implementing extended reality (XR) storefronts, where a server accesses catalogue data associated with items offered for sale by a merchant and generates digital representations of these items within a virtual space. The XR storefront is personalized to the customer based on stored data, and the server responds to customer requests by displaying the XR storefront on their electronic device. The system also allows for the selection of 3D models, updating purchase statuses, and displaying purchased items within the virtual space.
The patent claims detail a computer-implemented method and system for creating and displaying XR storefronts, including selecting items, generating digital representations, and storing storefront data. The system further involves receiving requests from customers, updating purchase statuses, and selecting 3D models based on user input or predefined rules. Additionally, the system allows for the display of multiple XR storefronts, positioning digital representations within a virtual space, and recommending items based on customer data. The patent also covers the use of non-transitory computer-readable media to store instructions for accessing catalogue data, generating digital representations, and displaying the XR storefront based on stored data.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
