Sports share trading system and method

• US 8,635,146 B2
• Filed: 11/15/2011
• Issued: 01/21/2014
• Est. Priority Date: 11/17/2010
• Status: Active Grant

• Current Assignee: Justin D. Baggott
• Original Assignee: Justin D. Baggott
• Inventors: Baggott, Justin D.
• Primary Examiner(s): RANKINS, WILLIAM E
• Application Number:
  US13/297,102
• Publication Number:
  US 20120123928A1
• Time in Patent Office: 798 Days
• Field of Search: 705/1.1
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The sports share trading system provides a web site in which users, using real money, trade equitable shares of athletes in a closed market. Rookie sports cards are tokens representing the shares of stock in the athletes and are traded as financial instruments via the web site. Users who buy cards, i.e., shares of stock, and keep them in the market are eligible for bonuses and guaranteed buy-backs if they choose. A Hall-of-Fame guaranteed buy back rewards users owning shares representing athletes who reach predetermined performance levels designated as “Hall of Fame Tiers”. The buy-back offers are at a predetermined, published, guaranteed price, representing a conditionally guaranteed future value of all purchases. The self-contained trading platform web site is accessible by a variety of web-enabled devices.

Claims

1. A computer software product that includes a non-transitory storage medium readable by a processor, the non-transitory storage medium having stored thereon a set of instructions for performing sports share trading, the set of instructions comprising:

(a) a first set of instructions which, when loaded into main memory and executed by the processor, causes the processor to provide a web site accessible to users via the Internet;

(b) a second set of instructions which, when loaded into main memory and executed by the processor, causes the processor to display on the web site indicia of athletes for trading in a closed market;

(c) a third set of instructions which, when loaded into main memory and executed by the processor, causes the processor to publish on said web site tiers of performance levels of the athletes;

(d) a fourth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to assign a predetermined number of shares in each of the athletes, thereby introducing scarcity in the closed market, the shares representing virtual stakes in the careers of the athletes;

(e) a fifth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to accept the users'"'"' selections from among the indicia to formulate trade orders of up to the predetermined number of shares in the athletes;

(f) a sixth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to assign on a one-to-one basis an asset token for each of the shares;

(g) a seventh set of instructions which, when loaded into main memory and executed by the processor, causes the processor to formulate the trade orders of the shares in the athletes;

(h) an eighth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to post the trade orders on the web site;

(i) a ninth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to execute the trade orders on behalf of the users when at least one purchase-side bid price of the trade orders matches at least one sell-side ask price of the trade orders, the prices being determined by scarcity of the shares in combination with buy-sell pressure caused by the users; and

(j) a tenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to maintain detailed accounting records including the asset tokens, the users, and the trade orders, accounts of the users being settled with real money.

2. The computer software product according to claim 1, wherein said asset token is represented by a sports card associated with a particular one of the athletes.

3. The computer software product according to claim 2, wherein said sports card is a rookie card.

4. The computer software product according to claim 2, wherein said sports card is a scanned image of a physical sports card, the scanned image being displayed on said web site.

5. The computer software product according to claim 1, further comprising an eleventh set of instructions which, when loaded into main memory and executed by the processor, causes the processor to generate offers to the users on the web site to buy back user-owned asset tokens, buy back prices being based on the career performance levels of the athletes.

6. The computer software product according to claim 5, further comprising a twelfth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to provide a tier corresponding to a Hall of Frame performance level of the athletes.

7. The computer software product according to claim 5, further comprising:

a thirteenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to accept user owned portfolios of said asset tokens for auction to remaining users of the web site on the web site;

a fourteenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to perform the auction on the web site according to a predetermined set of auction rules;

a fifteenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to take a percentage of proceeds of the auction; and

a sixteenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to credit remaining proceeds to the users formerly owning the portfolios sold at the auction.

8. The computer software product according to claim 7, further comprising a seventeenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to conduct a blind bid New Release auction of sports card being introduced in the market to the users of said web site on the web site.

9. The computer software product according to claim 8, further comprising:

an eighteenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to award performance bonuses to users holding asset tokens, wherein the performance bonuses are based on the athlete'"'"'s achievement of a predetermined performance tier level in a predetermined period of time.

10. A sports share trading system, comprising:

means for providing a web site accessible to users via the Internet;

means for displaying on the web site indicia of athletes for trading in a closed market;

means for publishing on said web site tiers of performance levels of the athletes;

means for assigning a predetermined number of shares in each of the athletes thereby introducing scarcity in the closed market, the shares representing virtual stakes in the careers of the athletes;

means for accepting the users'"'"' selections from among the indicia to formulate trade orders of up to the predetermined number of shares in the athletes;

means for assigning on a one-to-one basis an asset token for each of the shares;

means for formulating the trade orders of the shares in the athletes;

means for posting the trade orders on the web site;

means for executing the trade orders on behalf of the users when at least one purchase-side bid price of the trade orders matches at least one sell-side ask price of the trade orders, the prices being determined by scarcity of the shares in combination with buy-sell pressure caused by the users; and

means for maintaining detailed accounting records including the asset tokens, the users, and the trade orders, accounts of the users being settled with real money.

11. The sports share trading system according to claim 10, further comprising means for representing said asset token by a sports card associated with a particular one of said athletes.

12. The sports share trading system according to claim 11, wherein said sports card is a rookie card.

13. The sports share trading system according to claim 12, wherein said sports card is a scanned image of a physical said sports card, the scanned image being displayed on the web site.

14. The sports share trading system according to claim 10, further comprising means for causing said web site to make offers to the users to buy back user-owned asset tokens, buy back prices being based on the career performance levels of the athletes.

15. The sports share trading system according to claim 14, further comprising means for providing a tier corresponding to a Hall of Frame performance level of the athletes.

16. The sports share trading system according to claim 14, further comprising:

means for accepting user-owned portfolios of said asset tokens for auction to remaining users of said web site;

means for performing the auction on the web site according to a predetermined set of auction rules;

means for taking a percentage of proceeds of the auction; and

means for crediting remaining of the proceeds to the users formerly owning the portfolios sold at the auction.

17. The sports share trading system according to claim 16, further comprising means for conducting a blind bid New Release auction of sports card being introduced in the market to the users of said web site.

18. The sports share trading system according to claim 17, further comprising:

means for awarding monthly and season-ending performance bonuses associated with each of the athletes; and

means for crediting the performance bonuses to the user accounts having portfolios earning the performance bonuses.

19. A computer software product that includes a non-transitory storage medium readable by a processor, the non-transitory storage medium having stored thereon a set of instructions for performing sports share trading, the set of instructions comprising:

(a) a first set of instructions which, when loaded into main memory and executed by the processor, causes the processor to provide a web site accessible to users via the Internet;

(b) a second set of instructions which, when loaded into main memory and executed by the processor, causes the processor to display on the web site indicia of athletes for trading in a closed market;

(c) a fourth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to assign a predetermined number of shares in each of the athletes, thereby introducing scarcity in the closed market, the shares representing virtual stakes in the real time careers of the athletes;

(d) a fifth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to accept the users'"'"' selections from among the indicia to formulate trade orders of up to the predetermined number of shares in the athletes;

(e) a sixth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to assign on a one-to-one basis an asset token for each of the shares, wherein the asset token is represented by a unique sports card associated with a particular one of the athletes;

(f) a seventh set of instructions which, when loaded into main memory and executed by the processor, causes the processor to formulate the trade orders of the shares in the athletes;

(g) an eighth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to post the trade orders on the web site;

(h) a ninth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to execute the trade orders on behalf of the users when at least one purchase-side bid price of the trade orders matches at least one sell-side ask price of the trade orders, the prices being determined by a plurality of factors, including scarcity of the shares in combination with buy-sell pressure caused by the users and real time performance compared to the tier of performance levels of the athlete; and

(i) a tenth set of instructions which, when loaded into main memory and executed by the processor, causes the processor to maintain detailed accounting records including the asset tokens, the users, and the trade orders, accounts of the users being settled with real money.