Description:FIELD OF INVENTION
[001] The embodiments of the present disclosure generally relate to a field of Virtual Reality (VR). More particularly, the present disclosure relates to a system and a method for invoking a Non-Fungible Token (NFT) utility interface in a VR environment.

BACKGROUND
[002] The following description of the related art is intended to provide background information pertaining to the field of the disclosure. This section may include certain aspects of the art that may be related to various features of the present disclosure. However, it should be appreciated that this section be used only to enhance the understanding of the reader with respect to the present disclosure, and not as admissions of the prior art.
[003] In prevalent times, Non-Fungible Tokens (NFTs) have been regarded as a significant advancement in the fields of technology, art, finance, gaming, fashion, and sports. The NFT is a unique unit of data on blockchain that may be linked to digital and physical objects to provide immutable proof of ownership. Further, the NFTs are not bound to restrictions of their native environments, allowing them to be transferred into and used by third-party applications and platforms. In addition, these days a user in an Augmented Reality (AR) or Virtual Reality (VR) environment may indulge in a virtual interactive experience with products, through an avatar, or watch operation of products in the VR environment.
[004] Typically, unlike real-world collectibles which may have limited utility other than for display, the NFTs may have multi-functional programmable use cases in the VR environment. This includes display of rewards, private access to premium content and experiences, as well as discounts toward purchase of goods, among many other value-added use cases. This makes NFTs a value driver for brands and brand-initiated blockchain-based content engagement platforms.
[005] However, currently, there are no available pertinent mechanisms for using universal gestures for interacting with respect to purchasing of digital artifacts or the NFTs in the virtual world. In addition, there are no mechanisms available for enabling a user to experience immersion in the VR environment along with real-time interaction with the NFTs for evaluating and making purchase decisions.
[006] Therefore, there is a need for a method and a system for solving the shortcomings of the prior arts.

SUMMARY
[007] This section is provided to introduce certain objects and aspects of the present invention in a simplified form that are further described below in the detailed description. This summary is not intended to identify the key features or the scope of the claimed subject matter. In order to overcome at least a few problems associated with the known solutions as provided in the previous section, an object of the present invention is to provide a technique that enables a user to experience an immersive interaction with a breadth of utilities and content of a Non-Fungible Token (NFT) in a virtual reality (VR) environment.
[008] It is an object of the present disclosure to provide a method and a system for invoking an NFT utility interface in a VR environment.
[009] It is an object of the present disclosure to provide a method and a system for providing universal gestures that are used for interacting with the NFTs in the VR environment.
[0010] It is another object of the present disclosure to provide a method and a system for initiating successful NFT purchases in real time and successful transition of a user from a purchase journey to another.
[0011] It is yet another object of the present disclosure to provide a method and a system for implementing a single user interface that enables smooth and easy engagement of the user with multiple NFTs having inbuilt utilities.
[0012] It is yet another object of the present disclosure to allow users to evaluate the NFTs based on their merits and offerings in order to make purchase decisions.
[0013] It is an object of the present disclosure to provide an immersive engagement experience to a user in the VR environment and provide fast and efficient delivery of virtual content.
[0014] In an aspect, the present disclosure relates to a method for invoking an NFT utility interface in the VR environment. The method includes presenting, by a processor associated with a system, a digital artifact in the VR environment, where the digital artifact is associated with an NFT. The method includes determining, by the processor, an acquired status of the NFT based on NFT provenance data associated with the digital artifact. Further, the method includes invoking and displaying, by the processor, the NFT utility interface around the digital artifact in response to an affirmative determination of the acquired status of the NFT, where the affirmative determination of the acquired status represents the NFT being pre-acquired by a user present as an avatar and interacting with the digital artifact in the VR environment. Else, the method includes invoking and displaying, by the processor, the NFT utility interface around the avatar, where the avatar is a digital representation of the user.
[0015] In an embodiment, for displaying the NFT utility interface around the digital artifact, the method includes displaying, by the processor on the NFT utility interface, at least one of token gated content, access permission to community spaces and in-game enhancements, social connection permission, and permission to build Application Programming Interface (API) utilities for interaction with the avatar.
[0016] In an embodiment, for displaying the NFT utility interface around the avatar, the method includes displaying, by the processor on the NFT utility interface, at least one of a content block, a commerce block, a proof of activity block, a social block, and an information block for interaction with the avatar.
[0017] In another embodiment, the NFT provenance data associated with the digital artifact is determined based on any or a combination of orientation of the user with respect to the digital artifact, browsing of the VR environment by the user, positioning and orientation of the digital artifact with respect to a reference frame of the user, and user interaction with the digital artifact with respect to movement of the digital artifact.
[0018] In another embodiment, the determination of the NFT provenance data associated with the digital artifact includes capturing, using an application executing on a wearable device of the user, the VR environment and the digital artifact in the VR environment.
[0019] In yet another embodiment, an audio visual signal is transmitted to the avatar in response to the affirmative determination of the acquired status of the NFT.
[0020] In yet another embodiment, a representation of the NFT utility interface is based on one or more attributes associated with the NFT, where the one or more attributes comprise an NFT type, and bytecode data and metadata hosted by the NFT.
[0021] In an aspect, the present disclosure relates to a system for invoking an NFT utility interface in a VR environment. The system receives a request from a user for presenting a digital artifact in the VR environment, where the digital artifact is associated with an NFT. The system determines an acquired status of the NFT based on NFT provenance data associated with the digital artifact. The system invokes and displays the NFT utility interface around the digital artifact in response to an affirmative determination of the acquired status of the NFT, where the affirmative determination of the acquired status represents the NFT being pre-acquired by a user present as an avatar and interacting with the digital artifact in the VR environment. Else, the system invokes and displays the NFT utility interface around the avatar, where the avatar is a digital representation of the user.

BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS
[0022] The accompanying drawings, which are incorporated herein, and constitute a part of this invention, illustrate exemplary embodiments of the disclosed methods and systems in which like reference numerals refer to the same parts throughout the different drawings. Components in the drawings are not necessarily to scale, emphasis instead being placed upon clearly illustrating the principles of the present invention. Some drawings may indicate the components using block diagrams and may not represent the internal circuitry/sub components of each component. It will be appreciated by those skilled in the art that the invention of such drawings includes the invention of electrical components, electronic components, or circuitry commonly used to implement such components.
[0023] FIG. 1 illustrates an exemplary network architecture for implementing a proposed system for invoking a Non-Fungible Token (NFT) utility interface in a virtual reality (VR) environment, according to embodiments of the present disclosure.
[0024] FIG. 2 illustrates an exemplary detailed block diagram representation of the proposed system, according to embodiments of the present disclosure.
[0025] FIG. 3A illustrates an exemplary schematic diagram representation of a utility ring around an avatar, according to embodiments of the present disclosure.
[0026] FIG. 3B illustrates an exemplary schematic diagram representation of the utility ring around an avatar for additional interaction, according to embodiments of the present disclosure.
[0027] FIG. 4A illustrates an exemplary schematic diagram representation of the utility ring around the NFT, according to embodiments of the present disclosure.
[0028] FIG. 4B illustrates an exemplary schematic diagram representation of the utility ring around the NFT for additional interaction, according to embodiments of the present disclosure.
[0029] FIG. 5 illustrates a schematic flow diagram for determining NFT provenance data and creating a utility ring around the NFT or the avatar based on whether the user owns or does not own the NFT, according to embodiments of the present disclosure.
[0030] FIG. 6 illustrates a flow chart depicting a method for invoking the NFT utility interface in the VR environment, according to embodiments of the present disclosure.
[0031] FIG. 7 illustrates a hardware platform for the implementation of the proposed system, according to embodiments of the present disclosure.
[0032] The foregoing shall be more apparent from the following more detailed description of the invention.

DETAILED DESCRIPTION OF INVENTION
[0033] In the following description, for the purposes of explanation, various specific details are set forth in order to provide a thorough understanding of embodiments of the present disclosure. It will be apparent, however, that embodiments of the present disclosure may be practiced without these specific details. Several features described hereafter can each be used independently of one another or with any combination of other features. An individual feature may not address all of the problems discussed above or might address only some of the problems discussed above. Some of the problems discussed above might not be fully addressed by any of the features described herein.
[0034] The ensuing description provides exemplary embodiments only, and is not intended to limit the scope, applicability, or configuration of the disclosure. Rather, the ensuing description of the exemplary embodiments will provide those skilled in the art with an enabling description for implementing an exemplary embodiment. It should be understood that various changes may be made in the function and arrangement of elements without departing from the spirit and scope of the invention as set forth.
[0035] Specific details are given in the following description to provide a thorough understanding of the embodiments. However, it will be understood by one of ordinary skill in the art that the embodiments may be practiced without these specific details. For example, circuits, systems, networks, processes, and other components may be shown as components in block diagram form in order not to obscure the embodiments in unnecessary detail. In other instances, well-known circuits, processes, algorithms, structures, and techniques may be shown without unnecessary detail in order to avoid obscuring the embodiments.
[0036] Also, it is noted that individual embodiments may be described as a process which is depicted as a flowchart, a flow diagram, a data flow diagram, a structure diagram, or a block diagram. Although a flowchart may describe the operations as a sequential process, many of the operations can be performed in parallel or concurrently. In addition, the order of the operations may be re-arranged. A process is terminated when its operations are completed but could have additional steps not included in a figure. A process may correspond to a method, a function, a procedure, a subroutine, a subprogram, etc. When a process corresponds to a function, its termination can correspond to a return of the function to the calling function or the main function.
[0037] The word “exemplary” and/or “demonstrative” is used herein to mean serving as an example, instance, or illustration. For the avoidance of doubt, the subject matter disclosed herein is not limited by such examples. In addition, any aspect or design described herein as “exemplary” and/or “demonstrative” is not necessarily to be construed as preferred or advantageous over other aspects or designs, nor is it meant to preclude equivalent exemplary structures and techniques known to those of ordinary skill in the art. Furthermore, to the extent that the terms “includes,” “has,” “contains,” and other similar words are used in either the detailed description or the claims, such terms are intended to be inclusive—in a manner similar to the term “comprising” as an open transition word—without precluding any additional or other elements.
[0038] As used herein, “'connect”, “configure”, “couple” and its cognate terms, such as “connects”, “connected”, “configured”, and “coupled” may include a physical connection (such as a wired/wireless connection), a logical connection (such as through logical gates of semiconducting device), other suitable connections, or a combination of such connections, as may be obvious to a skilled person.
[0039] As used herein, “send”, “transfer”, “transmit”, and their cognate terms like “sending”, “sent”, “transferring”, “transmitting”, “transferred”, “transmitted”, etc. include sending or transporting data or information from one unit or component to another unit or component, wherein the content may or may not be modified before or after sending, transferring, transmitting.
[0040] Reference throughout this specification to “one embodiment” or “an embodiment” or “an instance” or “one instance” means that a particular feature, structure, or characteristic described in connection with the embodiment is included in at least one embodiment of the present invention. Thus, the appearances of the phrases “in one embodiment” or “in an embodiment” in various places throughout this specification are not necessarily all referring to the same embodiment. Furthermore, the particular features, structures, or characteristics may be combined in any suitable manner in one or more embodiments.
[0041] The terminology used herein is for the purpose of describing particular embodiments only and is not intended to be limiting of the invention. As used herein, the singular forms “a,” “an,” and “the” are intended to include the plural forms as well, unless the context clearly indicates otherwise. It will be further understood that the terms “comprises” and/or “comprising,” when used in this specification, specify the presence of stated features, integers, steps, operations, elements, and/or components, but do not preclude the presence or addition of one or more other features, integers, steps, operations, elements, components, and/or groups thereof. As used herein, the term “and/or” includes any and all combinations of one or more of the associated listed items.
[0042] Various embodiments of the present disclosure provide a method and a system for invoking a Non-Fungible Token (NFT) utility interface in a Virtual Reality (VR) environment. The present disclosure provides a method and a system for providing universal gestures that are used for interacting with the NFTs in the VR environment. The present disclosure provides a method and a system for initiating successful NFT purchases in real time and successful transition of a user from a purchase journey to another. The present disclosure provides a method and a system for implementing a single user interface that enables smooth and easy engagement of the user with multiple NFTs having inbuilt utilities. The present disclosure allows the users to evaluate the NFTs based on their merits and offerings in order to make purchase decisions. The present disclosure provides an immersive engagement experience to the user in the VR environment and provides fast and efficient delivery of virtual content.
[0043] FIG. 1 illustrates an exemplary network architecture 100 for implementing a proposed system 110 for invoking an NFT utility interface in a VR environment, according to embodiments of the present disclosure.
[0044] The network architecture 100 may include the system 110, an electronic device 108, and a centralized server 118. The system 110 may be communicatively connected to the centralized server 118 via a communication network 106. In an embodiment, the centralized server 118 may include, but is not limited to, a stand-alone server, a remote server, a cloud computing server, a dedicated server, a rack server, a server blade, a server rack, a bank of servers, a server farm, hardware supporting a part of a cloud service or system, a home server, hardware running a virtualized server, one or more processors executing code to function as a server, one or more machines performing server-side functionality as described herein, at least a portion of any of the above, some combination thereof, and the like.
[0045] In an embodiment, the communication network 106 may be a wired communication network or a wireless communication network. The wireless communication network may be any wireless communication network capable of transferring data between entities of that network such as, but is not limited to, a carrier network including a Near Field Communication (NFC), a Wireless-Fidelity (Wi-Fi), a Light Fidelity (Li-FI), circuit-switched network, a public switched network, a Content Delivery Network (CDN) network, a Long-Term Evolution (LTE) network, a New Radio (NR), a Global System for Mobile Communications (GSM) network and a Universal Mobile Telecommunications System (UMTS) network, an Internet, intranets, Local Area Networks (LANs), Wide Area Networks (WANs), mobile communication networks, combinations thereof, and the like.
[0046] Referring to FIG. 1, the system 110 may be implemented by way of a single device or a combination of multiple devices that may be operatively connected or networked together. For example, the system 110 may be implemented by way of a standalone device such as the centralized server 118, and the like, and may be communicatively coupled to the electronic device 108. In another example, the system 110 may be implemented in or associated with the electronic device 108. In yet another example, the system 110 may be implemented in or associated with respective one or more computing devices (104-1, 104-2,…104-N). A person of ordinary skill in the art will understand that the one or more computing devices (104-1, 104-2…104-N) may be collectively referred as the computing devices 104 and individually referred as the computing device 104. Referring to FIG. 2, the computing devices 104 may be associated with one or more users (102-1, 102-2…102-N). A person of ordinary skill in the art will understand that the one or more users (102-1, 102-2…102-N) may be collectively referred as the users 102 and individually referred as the user 102. In such a scenario, the system 110 may be replicated in each of the computing devices 104. In an embodiment, the user 102 may be a user of, but not limited to, an NFT marketplace, an art gallery platform, a media platform, an electronic commerce (e-commerce) platform, a hyper local platform, a service providing platform, a social networking platform, a messaging platform, a bot processing platform, a virtual assistance platform, an Artificial Intelligence (AI) based platform, and the like. In some embodiments, the user 102 may include an entity/administrator.
[0047] In an embodiment, the electronic device 108 may be at least one of an electrical, an electronic, an electromechanical, and a computing device. The electronic device 108 may include, but is not limited to, a mobile device, a smart-phone, a Personal Digital Assistant (PDA), a tablet computer, a phablet computer, a wearable device, a VR device, an Augmented Reality (AR) device, a laptop, a desktop, a server, and the like. The system 110 may be implemented in hardware or a suitable combination of hardware and software. The system 110 and/or the centralized server 118 may be associated with entities (not shown). The entities may be either a seller or a buyer of the NFTs. The entities may include, but are not limited to, a blockchain-based organization, an e-commerce company, a company, an art gallery, a music company, an outlet, a manufacturing unit, an enterprise, a facility, an organization, a gaming company, a digital content providing company, a secured facility, and the like.
[0048] Referring to FIG. 2, the system 110 may include a processor 112, an Input/Output (I/O) interface 114, and a memory 116. The I/O interface 114 may be used to receive user inputs from the computing devices 104. In some embodiments, the system 110 may include data and modules. As an example, the data may be stored in the memory 116 configured in the system 110. In an embodiment, the data may be stored in the memory 116 in the form of various data structures. Additionally, the data may be organized using data models such as, but not limited to, relational or hierarchical data models.
[0049] In an embodiment, the data stored in the memory 116 may be processed by the modules of the system 110. The modules may be stored within the memory 116. In an embodiment, the modules communicatively coupled to the processor 112 configured in the system 110, may also be present outside the memory 116 and implemented as hardware. As used herein, the term modules may refer to an Application-Specific Integrated Circuit (ASIC), an electronic circuit, a processor (shared, dedicated, or group) and memory that execute one or more software or firmware programs, a combinational logic circuit, and/or other suitable components that provide the described functionality.
[0050] Further, system 110 may also include other units such as, but not limited to, a display unit, an input unit, an output unit, and the like; however the same are not shown in FIG. 1, for the purpose of clarity. Also, in FIG. 1, only a few components are shown, however, the system 110 and/or the network architecture 100 may include multiple such components, or the system 110 and/or the network architecture 100 may include any such numbers of the components, obvious to a person skilled in the art or as required to implement the features of the present disclosure.
[0051] In accordance with embodiments of the present disclosure, the system 110 may be a hardware device including the processor 112 executing machine-readable program instructions to invoke and render a virtual utility interface around a virtual user (for example, an avatar) or a digital artifact present in the VR environment.
[0052] Execution of the machine-readable program instructions by the processor 112 may enable the proposed system 110 to invoke an NFT utility interface around the virtual user or the digital artifact present in the VR environment so as to provide an immersive experience. The “hardware” may comprise a combination of discrete components, an integrated circuit, an ASIC, a field-programmable gate array, a digital signal processor, or other suitable hardware. The “software” may comprise one or more objects, agents, threads, lines of code, subroutines, separate software applications, two or more lines of code, or other suitable software structures operating in one or more software applications or on one or more processors. The processor 112 may include, for example, but are not limited to, microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, state machines, logic circuits, and any devices that manipulate data or signals based on operational instructions, and the like. Among other capabilities, the processor 112 may fetch and execute computer-readable instructions in the memory 116 operationally coupled with the system 110 for performing tasks such as data processing, input/output processing, and/or any other functions. Any reference to a task in the present disclosure may refer to an operation being or that may be performed on data.
[0053] In the example that follows, assume that the user 102 of the system 110 desires to interact with the NFT utility interface invoked either around an avatar representing the user 102 or a digital artifact/asset representing the NFT, for either making purchase decisions or interacting with additional content and enhancements of the NFT. In this instance, the user 102 may include a collector, an investor, a flipper, fans of various artists, an administrator of media content (e.g., television content, video-on-demand content, online video content, graphical content, image content, augmented/virtual reality content, metaverse content), an administrator of a website, an administrator of a social media site, an administrator of social media application/other applications, among other examples, and the like. In an embodiment, the system 110, when associated with the electronic device 108 or the centralized server 118 may include, but is not limited to, a touch panel, a soft keypad, a hard keypad (including buttons), and the like.
[0054] In an embodiment, the system 110 may present the digital artifact in the VR environment. The digital artifact may be represented through a visual media and is associated with an NFT. For example, the digital artifact includes, but is not limited to, an icon, a video, an image, a representation block, a figure, and the like.
[0055] In an embodiment, the system 110 may determine an acquired status of the NFT. The acquired status may be determined based on NFT provenance data associated with the presented digital artifact.
[0056] In an embodiment, upon affirmative determination of the acquired status of the NFT, the system 110 may invoke and display the NFT utility interface around the digital artifact. The affirmative acquired status may represent the NFT being pre-acquired by the user 102 present as an avatar and interacting with the digital artifact in the VR environment. For example, the NFT utility interface includes, but is not limited to, a utility ring, a utility enclosure, and the like. The design of the NFT utility interface may be context-sensitive and is based on a range of interactions that are unique to the acquired status of the NFT. An audio visual signal is transmitted to the avatar upon the affirmative determination of the acquired status of the NFT.
[0057] In an embodiment, when the affirmative determination is not received, the system 110 may invoke and display the NFT utility interface around the avatar. The avatar is a digital representation of the user 102. For example, the avatar includes a graphical representation of an object or a user, but not limited to, for example a person or an organization.
[0058] In an embodiment, when the NFT utility interface is presented around the digital artifact, some content may be presented on the NFT utility interface. The presented content includes, but is not limited to, a token gated content, access permission to community spaces and in-game enhancements, social connection permission, and permission to build Application Programming Interface (API) utilities for interaction with the avatar.
[0059] In an embodiment, when the NFT utility interface is presented around the avatar, some content may be presented on the NFT utility interface. The presented content includes, but is not limited to, a content block, a commerce block, a proof of activity block, a social block, and an information block for interaction with the avatar.
[0060] In an embodiment, the NFT provenance data associated with the presented digital artifact is determined based on any or a combination of orientation of the user 102 with respect to the presented digital artifact, browsing of the VR environment by the user 102, positioning and orientation of the digital artifact with respect to a reference frame of the user 102, and user interaction with the digital artifact with reference to movement of the digital artifact. For the determination of the NFT provenance data, the VR environment and the presented digital artifact in the VR environment are captured using an application executing on a wearable device of the user 102. The wearable device of the user 102 includes, but is not limited to, VR/AR headsets, body mounted sensors, smart clothing, smart glasses, smart watches, wristbands, and the like.
[0061] In an embodiment, the VR environment may be composed of many objects or artifacts of interest and value to the user 102, often hosted with information for marketing the product for purchase. In one or more embodiments, a 3D store within a 3D virtual environment may be displayed via AR/VR headsets to present user-interactive virtual items and a virtual checkout system. Wearable 3D displays may be used for experiences, wherein digitally reproduced images or portions thereof are presented to the user 102 in a manner wherein they seem to be, or may be perceived as, real. A VR scenario may typically involve presentation of digital or virtual image information without transparency to other actual real-world visual input. An AR scenario may typically involve presentation of digital or virtual image information as an augmentation to visualization of the actual world around the user.
[0062] In an embodiment, representation of the NFT utility interface is based on one or more attributes associated with the NFT. The attributes include a NFT type, and bytecode data and metadata hosted by the NFT.
[0063] In an embodiment, a user location in the VR environment is determined and is used for rendering the NFT utility interface to the user 102, such that whenever the NFT utility interface is viewed by the user 102, it appears to be placed in relation to the user 102. User interaction with the NFT utility interface serves a dual purpose of building greater immersion for the user 102 and helping the user 102 along with their purchase decision based on evaluation of the NFT. This is achieved due to availability of a range of interactions allowed by the NFT utility interface, for example, in terms of interacting with content, accessing community world and spaces, interacting with utilities, viewing previews of content, information on how to purchase or earn the NFT.
[0064] FIG. 2 illustrates an exemplary detailed block diagram representation of the proposed system 110, according to embodiments of the present disclosure. The system 110 may include the processor 112, the I/O interface 114, and the memory 116. In some embodiments, the system 110 may include data 202 and modules 204. As an example, the data 202 may be stored in the memory 116 configured in the system 110 as shown in FIG. 2.
[0065] In an embodiment, the data 202 may include token gated data 206, access permission data 208, content data 210, commerce data 212, activity proof data 214, social data 216, information data 218 and position and orientation data 218, bytecode data 220, metadata 222, and other data 224. In an embodiment, the data 202 may be stored in the memory 116 in the form of various data structures. Additionally, the data 202 may be organized using data models, such as relational or hierarchical data models. The other data 224 may store data, including temporary data and temporary files, generated by the modules 204 for performing the various functions of the system 110. In an embodiment, the modules 204 may include a presentation module 226, a determination module 228, an invoking and displaying module 230, and other modules 232.
[0066] In an embodiment, the data 202 stored in the memory 116 may be processed by the modules 204 of the system 110. The modules 204 may be stored within the memory 116. In an example, the modules 204, communicatively coupled to the processor 112 configured in the system 110, may also be present outside the memory 116, as shown in FIG. 2, and implemented as hardware. As used herein, the term modules refer to an Application-Specific Integrated Circuit (ASIC), an electronic circuit, a processor (shared, dedicated, or group) and memory that execute one or more software or firmware programs, a combinational logic circuit, and/or other suitable components that provide the described functionality.
[0067] In an embodiment, the presentation module 226 may present a digital artifact in the VR environment. The presented digital artifact is associated with an NFT.
[0068] In an embodiment, the determination module 228 may determine an acquired status of the NFT based on NFT provenance data associated with the presented digital artifact. The NFT provenance data associated with the presented digital artifact is determined based on any or a combination of orientation of the user 102 with respect to the presented digital artifact, browsing of the VR environment by the user 102, positioning and orientation of the digital artifact with respect to a reference frame of the user 102, and user interaction with the digital artifact with reference to movement of the digital artifact.
[0069] In an embodiment, the invoking and displaying module 230 may, upon receiving an affirmative determination of the acquired status of the NFT, invoke and display the NFT utility interface around the digital artifact. The affirmative acquired status represents the NFT being pre-acquired by the user 102 present as an avatar and interacting with the digital artifact in the VR environment. An audio visual signal is transmitted to the avatar, upon affirmative determination of the acquired status of the NFT. In an embodiment, a representation of the NFT utility interface is based on one or more attributes associated with the NFT. The attributes include, but are not limited to, an NFT type, and bytecode data and metadata hosted by the NFT. Presenting the NFT utility interface around the digital artifact further includes presenting, on the NFT utility interface, at least one of token gated content, access permission to community spaces and in-game enhancements, social connection permission, and permission to build Application Programming Interface (API) utilities for interaction with the avatar.
[0070] In an embodiment, upon receiving a non-affirmative determination of the acquired status of the NFT, the NFT utility interface is invoked and displayed around the avatar. The avatar is a digital representation of the user 102. Further, presenting the NFT utility interface around the avatar includes presenting, on the NFT utility interface, at least one of a content block, a commerce block, a proof of activity block, a social block, and an information block for interaction with the avatar.
Exemplary scenario 1:
[0071] For example, an artifact may be a 2D or 3D object that is rendered, displayed, and/or has interacted within a 3D environment such as, by way of non-limiting example, in a 3D space, scene, browser, application, viewer, and/or interface, with which 2D or 3D object is linked to, or associated with, a real-world object, an asset, or an item, and which may be redeemed to take ownership. The artifact may also be, by way of non-limiting example, 3D polygonal or voxel objects or other representations in AR or VR or a hybrid of both.
[0072] As an example, the NFT may be a cryptographic token, but unlike cryptographic currencies and many network or utility tokens, which are not mutually interchangeable, and thus not fungible. The NFT may be created by uploading a file, such as an artwork, to an NFT auction market. This is done by creating a copy of the file, which is recorded as the NFT on a digital ledger. The NFT may be bought with cryptocurrency and resold. The NFTs may be used to commodify digital items, such as in non-limiting examples, digital art, video game items, or music. In some instances, the NFT token includes a reference to an asset, such as an image file, that may be stored elsewhere and generally referenced with a uniform resource locator (URL). In instances where data security and asset immutability are required or desired, the asset may be stored in and referenced from a blockchain.
[0073] For example, the NFT may include, but not limited to, digital art, digital music, images or video, speech, textile, painting, and the like. In addition, the NFTs may be created around a large range of real-world media content and intellectual property, such as movie studios minting digital collectibles for their movies, characters, notable scenes, and/or notable objects while record labels minting digital collectibles for artists, bands, albums and/or songs. Virtually, any media intellectual property that can be merchandised and licensed in the real world can also be tokenized into a digital collectible or the NFT.
[0074] By way of an example, if a movie studio owns a virtual media property, like an animated character from a movie, that studio may utilize the content engagement platform to mint an NFT to tokenize the character into a digital collectible. Possession of the NFT reflects the ownership of the collectible. It is non-interchangeable as each collectible is unique and serialized. In certain embodiments, the NFTs are minted in such a way that they may be authenticated independently of the entity that minted the NFT. Further, NFT supporting platforms have supported wallet applications that enable users 102 to securely store NFTs and/or other tokens on their devices such as computing devices 104.
Exemplary scenario 2:
[0075] Consider a scenario where a wearable VR/AR device is used by a user 102 to walk in and navigate into and through a VR/AR environment. The VR/AR environment includes digital artifacts representing NFTs that may be available for purchase. Relevant information for evaluating utility of the digital artifacts is presented to the user 102. A VR/AR experience may be based upon recognizing types of objects presented in the VR/AR environment. For example, in the VR/AR environment, a particular object is represented with respect to depth for its recognition and understanding. Recognizer software objects (“recognizers”) may be deployed on cloud or local resources to specifically assist with recognition of various objects on either or both VR/AR platforms when the user 102 navigates data in the VR/AR environment.
[0076] Sensors present within the wearable device of the user 102 captures information, for example, using pose tagged images about surroundings of the user 102 from multiple points of view. For example, before the user 102 walks into a section of a room, the VR/AR device of the user 102 may have already captured numerous key frames and pose-tagged images about surroundings. Each of the key frames may include information about depth and color of the objects present in surroundings. Further, an object recognizer may extract a set of sparse 3D points from images and use image segmentation to find a particular object in a specific key frame.
[0077] In an embodiment, a mechanism for recognizing objects present in the key frames is disclosed. The mechanism includes capturing an image of a field of view of a user 102, extracting a set of map points based on the captured image, recognizing an object based on the extracted set of map points, retrieving semantic data associated with the recognized objects and attaching the semantic data to data associated with the recognized object, and inserting the recognized object data attached with the semantic data to a virtual world model. Such virtual content is placed in relation to the recognized object.
[0078] When the sensors present in the wearable device (for example, headset) of the user 102 recognizes an object in the VR environment, a media wallet application integrated with the headset requests multiple computer systems inbuilt on the headset to authenticate if the presented NFT is owned by the user 102. Based on this evaluation, the system 110 may determine whether the user 102 either owns or does not own the NFT. Depending on whether the user 102 owns or does not own the NFT, a unique NFT utility interface (for example, a utility ring) may be rendered.
[0079] The presented NFT is then authenticated based upon a comparison of a signature of a content creator, that minted the NFT, and cryptographic information published by a particular content creator identified by a specific media wallet application. Further, it is determined whether transactions in at least one immutable ledger involving the NFT and a particular content creator are consistent with a smart contract underlying the NFT.
[0080] When the system 110 recognizes that the user 102 does not own the NFT, the utility ring 306 appears around the user’s avatar 302, as is illustrated in FIG. 3A. This is done to support interactions suitable for evaluation of the NFT 304. FIG. 3A illustrates the utility ring 306 to appear around the user’s avatar 302 in the AR/VR environment, in accordance with an embodiment of the disclosure.
[0081] When the system 110 recognizes that the user 102 is in possession of the NFT 406, the utility ring 404 appears around the NFT 406, as is illustrated in FIG. 4A. The presentation of the utility ring 404 is done along with an audio or visual confirmation of NFT provenance. The presented utility ring 404 around the NFT 406 presents various options for performing additional interactions with data and content encoded in the NFT 406.
[0082] The utility ring 404 appears like a disc around the NFT 406 or an avatar 302 of the user 102. A mechanism of rendering the utility ring 306/404 includes creating a disc to be displayed to a user 102, generating a set of data associated with the disc, tethering the disc to a set of map points associated with at least one physical entity at the user’s location, and displaying the disc to the user 102. When the disc is viewed by the user 102, the disc moves in relation to a movement of at least one physical entity, for example, the avatar 302 or the artifact 406 itself.
[0083] In addition, the utility ring 306/406 may display a set of interactive elements that each correspond to an application or a function. A set of interactions enabled by the utility ring 306/406 will appear as a User Interface (UI). The displayed interactive elements may be used for unique selection of a particular submenu, application, or function. Upon selection of one of the displayed interactive elements, the system 110 may render a new set of virtual interface elements. For example, the system 110 may render a submenu, a menu, or other virtual interface element associated with the selected interactive element. As may be appreciated, the rendering by the system 110 will be context-sensitive.
[0084] The UI may include an input mechanism and an output mechanism. The input mechanism may be used for allowing the users 102 to manipulate a computing device 104. The output mechanism may be used for allowing the system 110 to present information and/or data, indicate the effects of the user’s manipulation, etc. For example, the UI on the computing device 104 may include a device with a data processor and data communication capability, and a graphical user interface (GUI) that allows the users 102 to interact with programs. The GUI may display objects and visual indicators, as opposed to text-based interfaces, typed command labels, or text navigation to represent information and actions available to the user 102. For example, the UI may be a display window or display object, which is selectable by the user 102.
[0085] Selection of a displayed set of interactive elements permitted by the NFT is based on a bytecode of the NFT that programmatically describes behavior of the NFT. The bytecode specifies at least one transaction rule with respect to the NFT, a pointer to a piece of content, a piece of content, and metadata describing the NFT. In addition, the NFT may include any combination of data that offers added utilities like Application Programming interface(s) (APIs) for utility addition, information on past ownership as well as data related to the whole family of NFTs, game-based data based on gaming utilities, etc.
[0086] Based on the bytecode, if the user 102 does not own the NFT 304, the utility ring 306 appears around the avatar 302, as is illustrated in FIG. 3B, The presented menu items, icons or fields may, for example, correspond to selections that allow the user 102 to access a content shard/block 322, a commerce shard/block 324, a proof of activity of the NFT 326, a social shard/block 328, and an information shard/block 330.
[0087] The content shard/block 322: On selection of the content shard 322, the user 102 may be allowed a preview of the gated material and content that the NFT content creator has been allowed access to. This may include teasers, lore, portion of a film, art, or song, and much more.
[0088] The commerce shard/block 324: On selection of the commerce shard 324, the UI opens menus and sub-menus with data and selections that correspond to the purchase of an NFT 304 through the marketplace including, but not limited to, price point data, size of the collection, and the number of holders.
[0089] The Proof of Activity Block 326: Proof of activity 326 refers to options that the user 102 can take to earn the NFT 304. On selection of the proof of activity 326, the user 102 may be shown information on the specific tasks or activities that they must complete to earn the NFT 304.
[0090] The social shard/block 328: The social shard 328 is composed of information that shows the user 102 who the previous owners of the NFT 304 were or who in the social circle of the user 102 currently holds an NFT 304 of the same collection.
[0091] Information Shard/block 330: On selection of the information shard 330, the utility ring 306 provides a breadth of contextual information related to the NFT 304, such as game integration, in-game capabilities, or other utilities hosted by the NFT 304.
[0092] Based on the bytecode of the specific NFT, if the utility ring 404 appears around the NFT 406, a set of menu items, icons, or fields may be displayed, as illustrated in FIG. 4B. The set of menu items may, for example, correspond to selections that allow the user 102 to access token gated content 422, access permissions to community worlds or spaces corresponding to the NFT 424, access to unique in-game enhancements that the NFT unlocks 426, social feed of activity related to the NFT 428, and/or low-level APIs for developers to add more utility to the NFT 430.
[0093] The token gated content 422: This may include an audio file of ambient media, location-based check-in with respect to media viewed at a movie theater, a photograph of a movie ticket, which signifies proof of entry, a user submission of a media content rating, and additional guarantee by an NFT content creator. On selection of the token gated content 422, the user 102 may experience a panorama of exclusive content unique to the NFT 406.
[0094] The community worlds or spaces 424: The NFTs are being utilized in metaverse to be displayed in virtual art galleries, as membership tokens for exclusive access to experiences, worn as digital fashion, or used as passes to compete in virtual sporting competitions and as interactive structures in the metaverse. On selection of the community worlds or spaces 424, the user 102 may experience the community worlds and spaces that the NFT 406 unlocks and engages with a community that owns NFT of the same family.
[0095] In-game enhancements 426: The NFTs may also come bundled with conventional gaming designs with unconventional game mechanisms that let users 102 have more control over certain in-game assets like skins, characters, weapons, virtual lands, and much more. This is made possible when the NFT creator anchors games with digital asset-powered economies as an added utility. On selection of in-game enhancements 426 on the utility ring 404, the user 102 may be given the option to create or breed new characters, purchase digital items on native or third-party marketplaces, or unlock and learn new items. Users will then have exclusive ownership rights over them, and can, in essence, distribute or sell them and pocket the money made from such traits.
[0096] Social feed of activity 428: The NFTs play a major role in identity, community, and social experiences in the virtual world. With the given NFT, the user 102 may signal support for a project or convey perspectives about the virtual and real world, engage in the community discord, connect, and network together. By selecting the social feed of activity 428 on the utility ring 404, the user 102 may engage with a circle of individuals holding such NFTs to band them into communities, participate in Decentralized Autonomous Organization (DAO) voting and governance issues, share experiences, and create content together.
[0097] Low-level APIs for NFT enhancement 430: The NFTs may come bundled with low-level APIs that allows it to be flexibly evolved over time, such as for adding new utilities or modifying the metadata according to priorities. On selection of this interaction 430 on the utility ring 404, developers may use these APIs and integrate with decentralized applications, NFT marketplaces, NFT games, and more, allowing a growth of features and interactions for the user 102.
[0098] In an embodiment, a mechanism of determining user input is disclosed. Among other possible implementations, the system 110 may, for example, include one or more haptic devices or components. The haptic device(s) or component(s) may be operable to provide a tactile sensation to the user 102. For example, the haptic device(s) or component(s) may provide a tactile sensation of pressure and/or texture when interacting with the utility ring or any of presented virtual content (e.g., info shard, token gated content). The tactile sensation may replicate a feel of a physical object which a virtual object represents, or may replicate visualization of a pointer or an imagined object or character to aid selection and confirmation of successful interaction.
[0099] Finger gestures may take a variety of forms and may, for example, be based on inter-finger interactions, pointing, tapping, rubbing, etc. Other gestures may, for example, include 2D or 3D representation of characters (e.g., letters, digits, punctuation). To provide the characters as input, the user 102 swipes his finger in a defined character pattern. In one implementation of the UI, the system 110 may render three circles, each circle with specifically chosen characters (e.g., letters, digits, punctuation) arranged circumferentially around the periphery. The user 102 may swipe through the circles and letters to designate a character selection or input. In another implementation, the AR system 110 may render a keyboard (e.g., QWERTY keyboard) in the field of view of the user 102, proximate to a position of the user’s dominant hand in a bent-arm position. The user 102 may then perform a swipe-like motion through desired keys, and then indicate that the swipe gesture selection is complete by performing another gesture (e.g., thumb-to-ring finger gesture) or through other proprioceptive interaction.
[00100] The system 110 may also recognize voice commands, and in response perform functions mapped to received voice commands. Mapping of the gestures to commands may be universally defined, across many users, facilitating development of various applications which employ at least some commonality in the UI. Alternatively or additionally, the users or developers may define a mapping between at least some of gestures and corresponding commands to be executed by the system 110 in response to detection of the commands.
[00101] FIG. 5 illustrates a schematic flow diagram of how after the discovery of an artifact in the AR/VR environment, the system 110 determines the provenance of the NFT and creates a utility ring around the NFT or the avatar based on whether the user 102 owns or does not own the NFT. The process is described in detail herein.
[00102] At block 502, the user 102 browses through the AR/VR environment. The AR/VR environment may include artifacts or digital objects that are NFTs and may be owned and/or purchased by the user 102, at block 504. The artifacts may include digital information to display and provide additional content, utilities, and interactions with the users. When the user comes in close proximity to one of such artifact, at block 506, then sensor wear and object recognizer algorithms present in wearable VR (e.g., headset) of the user maps a series of data points relative to the user’s orientation with respect to the artifact, at block 508. Further, at block 510, position, orientation, and movement of the artifact with respect to the reference frame of the user are determined. In addition, a mapping of the user’s interaction with respect to the position orientation and/or movement of the artifact is performed, at block 512. The determined information may be combined and used to draw a utility ring, at block 514.
[00103] The utility ring may be shaped as a disc and may appear around the avatar of the user or the NFT based on the provenance of the NFT. At block 516, if the user owns the NFT, and the utility ring appears around the NFT along with an audio or visual confirmation that the user holds the NFT. The utility ring also allows a range of interactions for the user to interact with the NFT, including but not limited to token gated content, at block 518, access to community worlds and spaces, at block 520, access to in-game enhancements, at block 522, social feed of activity on the NFT, at block 524, and low-level APIs to let developers build utilities on top of the NFT, at block 526.
[00104] However, if the user does not own the NFT of the artifact, the utility ring appears around the user’s avatar, at block 528. This utility ring allows the user to interact with the NFT file of the artifact and may show a range of interaction options, including but not limited to the content shard, at block 530, the commerce shard, at block 532, the proof of activity, at block 534, social shard at block 536, and the info shard, at block 538.
[00105] FIG. 6 illustrates a flow chart depicting a method 600 for invoking and presenting an NFT utility interface in a VR environment, according to embodiments of the present disclosure.
[00106] At block 602, the method 600 includes presenting, by a processor 112 associated with a system 110, at least one of a digital artifact in the VR environment, where the presented digital artifact is associated with a NFT.
[00107] At block 604, the method 600 includes determining, by the processor 112, an acquired status of the NFT, based on NFT provenance data associated with the presented digital artifact.
[00108] At block 606, the method 600 includes invoking and displaying, by the processor 112, the NFT utility interface around the digital artifact in response to an affirmative determination of the acquired status of the NFT, where the affirmative acquired status represents the NFT being pre-acquired by a user present as an avatar and interacting with the digital artifact in the VR environment, else invoking and displaying, by the processor, the NFT utility interface around the avatar, where the avatar is a digital representation of the user.
[00109] The order in which the method 600 is described is not intended to be construed as a limitation, and any number of the described method blocks may be combined or otherwise performed in any order to implement the method 600 or an alternate method. Additionally, individual blocks may be deleted from the method 600 without departing from the spirit and scope of the present disclosure described herein. Furthermore, the method 600 may be implemented in any suitable hardware, software, firmware, or a combination thereof, which exists in the related art or that is later developed. The method 600 describes, without limitation, the implementation of the system 110. A person of skill in the art will understand that method 600 may be modified appropriately for implementation in various manners without departing from the scope and spirit of the disclosure.
[00110] FIG. 7 illustrates a hardware platform 700 for implementation of the disclosed system 110, according to an example embodiment of the present disclosure. For the sake of brevity, the construction and operational features of the system 110 which are explained in detail above are not explained in detail herein. Particularly, computing machines such as but not limited to internal/external server clusters, quantum computers, desktops, laptops, smartphones, tablets, and wearable which may be used to execute the system 110 or may include the structure of the hardware platform 700. As illustrated, the hardware platform 700 may include additional components not shown, and that some of the components described may be removed and/or modified.
[00111] The hardware platform 700 may be a computer system such as the system 110 that may be used with the embodiments described herein. The computer system may represent a computational platform that includes components that may be in a server or another computer system. The computer system may execute, by the processor 705 (e.g., a single or multiple processors) or other hardware processing circuit, the methods, functions, and other processes described herein. These methods, functions, and other processes may be embodied as machine-readable instructions stored on a computer-readable medium, which may be non-transitory, such as hardware storage devices (e.g., RAM (random access memory), ROM (read-only memory), EPROM (erasable, programmable ROM), EEPROM (electrically erasable, programmable ROM), hard drives, and flash memory). The computer system may include the processor 705 that executes software instructions or code stored on a non-transitory computer-readable storage medium 710 to perform methods of the present disclosure. The software code includes, for example, instructions to gather data and documents and analyze documents. In an example, the modules 204 may be software codes or components performing these steps.
[00112] The instructions on the computer-readable storage medium 710 are read and stored in storage 715 or in random access memory (RAM). The storage 715 may provide a space for keeping static data where at least some instructions could be stored for later execution. The stored instructions may be further compiled to generate other representations of the instructions and dynamically stored in the RAM 720. The processor 705 may read instructions from the RAM 720 and perform actions as instructed.
[00113] The computer system may further include the output device 725 to provide at least some of the results of the execution as output including, but not limited to, visual information to users, such as external agents. The output device 725 may include a display on computing devices and virtual reality glasses. For example, the display may be a mobile phone screen or a laptop screen. GUIs and/or text may be presented as an output on the display screen. The computer system may further include an input device 730 to provide a user or another device with mechanisms for entering data and/or otherwise interacting with the computer system. The input device 730 may include, for example, a keyboard, a keypad, a mouse, or a touchscreen. Each of these output devices 725 and input device 730 may be joined by one or more additional peripherals. For example, the output device 725 may be used to display the results such as bot responses by the executable Chabot.
[00114] A network communicator 735 may be provided to connect the computer system to a network and in turn to other devices connected to the network including other clients, servers, data stores, and interfaces, for instance. A network communicator 735 may include, for example, a network adapter such as a LAN adapter or a wireless adapter. The computer system may include a data sources interface 740 to access the data source 745. The data source 745 may be an information resource. As an example, a database of exceptions and rules may be provided as the data source 745. Moreover, knowledge repositories and curated data may be other examples of the data source 745.
[00115] While considerable emphasis has been placed herein on the preferred embodiments, it will be appreciated that many embodiments can be made and that many changes can be made in the preferred embodiments without departing from the principles of the invention. These and other changes in the preferred embodiments of the invention will be apparent to those skilled in the art from the disclosure herein, whereby it is to be distinctly understood that the foregoing descriptive matter is to be implemented merely as illustrative of the invention and not as a limitation.

ADVANTAGES OF THE PRESENT DISCLOSURE
[00116] The present disclosure provides a method and a system for invoking a Non-Fungible Token (NFT) utility interface in a virtual reality (VR) environment.
[00117] The present disclosure provides universal gestures that are used for interacting with the NFTs in the virtual environment.
[00118] The present disclosure provides a method and a system for initiating successful NFT purchases in real time and successful transition of the user from a purchase journey to another.
[00119] The present disclosure provides a method and a system for implementing a single user interface that enables smooth and easy engagement of the user with multiple NFTs having inbuilt utilities.
[00120] The present disclosure allows the users to evaluate the NFTs based on their merits and offerings in order to make purchase decisions.
[00121] The present disclosure provides an immersive engagement experience to the user in the VR environment and provides fast and efficient delivery of virtual content.
, Claims:1. A method for invoking a Non-Fungible Token (NFT) utility interface in a virtual reality (VR) environment , the method comprising:
presenting, by a processor (112) associated with a system (110), a digital artifact in the VR environment, wherein the digital artifact is associated with an NFT;
determining, by the processor (112), an acquired status of the NFT based on NFT provenance data associated with the digital artifact; and
in response to an affirmative determination of the acquired status of the NFT, invoking and displaying, by the processor (112), the NFT utility interface around the digital artifact, wherein the affirmative determination of the acquired status represents the NFT being pre-acquired by a user present as an avatar and interacting with the digital artifact in the VR environment, else
invoking and displaying, by the processor (112), the NFT utility interface around the avatar, wherein the avatar is a digital representation of the user.
2. The method as claimed in claim 1, wherein displaying the NFT utility interface around the digital artifact comprises:
displaying, by the processor (112) on the NFT utility interface, at least one of: token gated content, access permission to community spaces and in-game enhancements, social connection permission, and permission to build Application Programming Interface (API) utilities for interaction with the avatar.
3. The method as claimed in claim 1, wherein displaying the NFT utility interface around the avatar comprises:
displaying, by the processor (112) on the NFT utility interface, at least one of: a content block, a commerce block, a proof of activity block, a social block, and an information block for interaction with the avatar.

4. The method as claimed in claim 1, wherein the NFT provenance data associated with the digital artifact is determined based on any or a combination of orientation of the user with respect to the digital artifact, browsing of the VR environment by the user, positioning and orientation of the digital artifact with respect to a reference frame of the user, and user interaction with the digital artifact with respect to movement of the digital artifact.
5. The method as claimed in claim 4, wherein the determination of the NFT provenance data associated with the digital artifact comprises:
capturing, by the processor (112), using an application executing on a wearable device of the user, the VR environment and the digital artifact in the VR environment.
6. The method as claimed in claim 1, wherein an audio visual signal is transmitted to the avatar in response to the affirmative determination of the acquired status of the NFT.
7. The method as claimed in claim 1, wherein a representation of the NFT utility interface is based on one or more attributes associated with the NFT, and wherein the one or more attributes comprise an NFT type, and bytecode data and metadata hosted by the NFT.
8. A system (110) for invoking a Non-Fungible Token (NFT) utility interface in a virtual reality (VR) environment , the system (110) comprising:
a processor (112);
a memory (116) coupled to the processor (112), wherein the memory (116) comprises processor-executable instructions, which on execution causes the processor (112) to:
present a digital artifact in the VR environment, wherein the digital artifact is associated with an NFT;
determine an acquired status of the NFT based on NFT provenance data associated with the digital artifact; and
in response to an affirmative determination of the acquired status of the NFT, invoke and display the NFT utility interface around the digital artifact, wherein the affirmative determination of the acquired status represents the NFT being pre-acquired by a user present as an avatar and interacting with the digital artifact in the VR environment, else
invoke and display the NFT utility interface around the avatar, wherein the avatar is a digital representation of the user.
9. The system (110) as claimed in claim 8, wherein for displaying the NFT utility interface around the digital artifact, the processor (112) is configured to:
display, on the NFT utility interface, at least one of: token gated content, access permission to community spaces and in-game enhancements, social connection permission, and permission to build Application Programming Interface (API) utilities for interaction with the avatar.
10. The system (110) as claimed in claim 8, wherein for displaying the NFT utility interface around the avatar, the processor (112) is configured to:
display, on the NFT utility interface, at least one of: a content block, a commerce block, a proof of activity block, a social block, and an information block for interaction with the avatar.
11. The system (110) as claimed in claim 8, wherein the NFT provenance data associated with the digital artifact is determined based on any or a combination of orientation of the user with respect to the digital artifact, browsing of the VR environment by the user, positioning and orientation of the digital artifact with respect to a reference frame of the user, and user interaction with the digital artifact with respect to movement of the digital artifact.
12. The system (110) as claimed in claim 11, wherein for the determination of the NFT provenance data associated with the digital artifact, the processor (112) is configured to:
capture, using an application executing on a wearable device of the user, the VR environment and the digital artifact in the VR environment.
13. The system (110) as claimed in claim 8, wherein an audio visual signal is transmitted to the avatar in response to the affirmative determination of the acquired status of the NFT.

14. The system (110) as claimed in claim 8, wherein a representation of the NFT utility interface is based on one or more attributes associated with the NFT, and wherein the one or more attributes comprises an NFT type, and bytecode data and metadata hosted by the NFT.