Patent Application Titled “Systems And Methods For Managing Electronic Interactive Gaming-Based Investments” Published Online (USPTO 20210279806): Patent Application

2021 SEP 29 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- According to news reporting originating from Washington, D.C., by NewsRx journalists, a patent application by the inventors CRUTTENDEN, Walter (Corona del Mar, CA, US); MARTELL, Jason (Irvine, CA, US), filed on March 24, 2021, was made available online on September 9, 2021.

No assignee for this patent application has been made.

Reporters obtained the following quote from the background information supplied by the inventors: “A variety of financial investment programs exist to facilitate protecting consumer assets. Among these programs, long-term investment plans allow consumers/employees/users to save for their future/retirement within an expected period of time.

“When used correctly, these programs promote not only economic growth but also personal financial safety. Investing resources provides fixed capital (e.g., land, buildings, equipment) for the economy and potential gain for the investor. The most effective long-term investments bear low risks and offer high profits. These investments minimize the effect of market fluctuations and other risks to maximize the expected return.

“Unfortunately, despite the potential reward of investing and risk-aversion techniques, many employees fail to establish any long-term investment plan at all. In some cases, these investment programs are not always available to a large portion of the population. Even where available, many employees/consumers lack the motivation to invest over a long period of time because it is difficult to visualize a high-expected return without sufficient investment expertise. Accordingly, transactions costs (e.g., fees, commission, and so on) are high and employees/consumers/users often are unwilling to accept the risk of investment for an unknown reward.

“Related to investment programs, some consumers choose savings to preserve their income. Savings are defined as income not spent (i.e., deferred consumption) such as, for example, money put aside in a bank. This also includes reducing expenses. Savings are relatively accessible to a larger group of users than most investments. A deposit account paying interest is often used to hold money for future needs. Typically, conventional saving methods earn low, fixed rates and present correspondingly lower risks than investments. It is possible to invest resources not spent as previously discussed; however, increased saving does not always correspond to increased investment. Nevertheless, consumers must still rely on self-discipline to save.

“One method for encouraging financial asset protection provides real-time investment projections during the consumer transaction process. An example is disclosed in a co-pending U.S. patent application Ser. No. 13/366,499, filed Feb. 6, 2012, by the same inventor and assigned to the same assignee of the instant application, which is hereby incorporated by reference in its entirety. This approach pushes real-time investment data to a consumer based on a portion of their traditional consumer transactions. Having this immediate knowledge creates a nexus between savings/investments and consumer transactions, thereby motivating consumers to realize their long-term investment goals.

“In addition to providing immediate knowledge of investment benefits (i.e., pushing potential investment benefits in real-time), competition is also an effective catalyst for allocating consumer finances. For example, purchasing tickets for a raffle, betting on a race, entering a tournament, and so on introduces a component of competition that encourages consumers to spend their funds in return for the opportunity to compete and win. Access to competitive activities has expanded into Web-based environments. In fact, with the proliferation of online gaming, an increasing number of consumers have immediate access to spend funds and “play” without leaving their computer.

“Social networking systems-for instance, Face-book®, MySpace®, Twitter®, LinkedIn®, and so on-provides both a platform for online competition and a ready pool of consumers to participate. FarmVille, Poker, and CasteVille from Zynga, Inc.® in San Francisco, Calif. are only a few examples of Facebook® applications that allow its members to play over the social network. In many of these applications, players can acquire virtual currency (e.g., points, coins, and so on) to be spent in the game, often through the exchange of actual funds (i.e., cash/credit). For example, FarmVille allows players to cultivate and care for virtual farms and animals. Each player has the option to interact (e.g., exchange goods, visit other farms, exchange services) with neighboring farmlands, owned by other members of the social network. Farm Cash and Farm Coins are available for purchase and can be used during gameplay to harvest crops, purchase farm items (e.g., buildings, trees, animals), plow land, and so on. Farm Cash and Farm Coins cannot be exchanged for actual currency; therefore, exchanging actual funds for virtual currency is a one-way transaction that minimally benefits the player. Nevertheless, players are motivated to spend their actual funds for a chance to build a thriving virtual farm.

“In another example, interactive online Poker allows players to meet other social members and play a number of card games. Actually currency can be similarly exchanged for virtual credits during the game. For a number of online interactive games, the winner is often determined by chance (e.g., rolling dice, collecting various items) and, in cases where virtual currency has cash value, actual consumer funds are lost. A user’s wins, losses, and virtual currency are maintained throughout the system.

“Online gaming attracts participants through reward-based incentives similar to investments. As previously discussed, effective long-term investments bear low risks and offer high profits. Investments generally bear a high security of return within an expected period of time from a thorough analysis of the risk of loss. Online gamers spend funds and play games in search of a similar reward/return. However, unlike investments, online gaming often involves a risk of loss that exceeds the expected return. Competition may drive users to accept this risk based on chance without thorough analysis. Consumers failing to differentiate the risk associated with both investment returns and online gaming rewards may not realize their financial goals. Instead, actual funds may be put at risk and lost to online competition.

“Current online gaming applications are effective for introducing a component of competition to encourage users to spend their funds. Unfortunately, risk management concepts involving conventional online gaming fail to promote higher returns and economic growth, such as those associated with long-term investments. Current gaming applications rarely provide the nexus between online gaming and savings/investments in order to encourage users to protect their assets through competition and performance metrics (e.g., investment projections). Accordingly, an improved system and method for encouraging/facilitating investments/savings through competitive incentives is desirable.”

In addition to obtaining background information on this patent application, NewsRx editors also obtained the inventors’ summary information for this patent application: “The field of the invention relates to systems and methods for controlling investment funds, and more particularly to systems and methods for facilitating investments through interactive electronic gaming. In one embodiment, an interactive electronic gaming system may include a game server for hosting a Web application game. The system further includes one or more client communication devices configured to access the game server over a data network. The game server is configured to intercept any electronic payment transactions over a payment gateway server through the Web application game over the data network. An index fund system is accessible over said data network for maintaining electronic investment portfolios. The game server is operatively coupled to a computer program product, the computer program product having a computer-usable medium including a sequence of instructions which, when executed by a processor, causes said processor to execute a process that creates investment projections based on the intercepted payment transaction and redirects electronic transfers to a portfolio database.

“The process includes the steps of hosting a game at the game server; intercepting a transaction through the payment gateway server, the transaction having a first numerical amount of electronic funds to be exchanged for virtual currency; computing an expected return, wherein the return is based on the investment of the first numerical amount of electronic funds; electronically publishing the expected return to the client communication device; and electronically transferring the first numerical amount to the portfolio server over said data network in exchange for virtual currency to be used during said game. In an alternative embodiment, the process further includes the step of publishing investment performance metrics to said game server over said data network, wherein said investment performance metrics compare the performance of a user to other users of said game.

“Other systems, methods, features and advantages of the invention will be or will become apparent to one with skill in the art upon examination of the following figures and detailed description. It is intended that all such additional systems, methods, features and advantages be included within this description, be within the scope of the invention, and be protected by the accompanying claims.”

The claims supplied by the inventors are:

“1. (canceled)

“2. An interactive electronic gaming system comprising: a payment gateway server; a game server in electronic communication with the payment gateway server, the game server being configured to intercept one or more in-game transactions of electronic funds sent through the payment gateway server; one or more client communication devices configured to create an electronic payment gateway with the payment gateway server during an in-game transaction, over a data network; a portfolio server, the portfolio server is accessible to the client communication device over said data network; a portfolio database in electronic communication to said portfolio server for maintaining electronic investment portfolios; wherein the game server is operatively coupled to a computer program product, the computer program product having a computer-usable medium having a sequence of instructions which, when executed by a processor, causes said processor to execute a process that creates investment projections based on the intercepted payment transaction and redirects electronic transfer to said portfolio database, said process comprising: hosting at the game server a game, the game configured to receive electronic payments in exchange for virtual currency; intercepting a first in-game transaction of electronic funds conducted through the electronic payment gateway, the first in-game transaction of electronic funds having a first numerical amount of electronic funds, the intercepting comprising listening for any in-game transactions of electronic funds sent through the electronic payment gateway to an intended recipient; computing an expected return, wherein the return is based on the investment of the first numerical amount of actual electronic funds; presenting to a user through a graphical display of a user device, the expected return; receiving a second in-game transaction of electronic funds conducted through the electronic payment gateway, the second in-game transaction of electronic funds having a second numerical amount of electronic funds and an indication of authorization to transfer the second numerical amount of electronic funds to the portfolio database, the second numerical amount of electronic funds differing from the first numerical amount of electronic funds; and electronically transferring the second numerical amount of actual electronic funds to the portfolio database at the portfolio server.

“3. The system of claim 2, wherein the process further includes the step of selecting long-term financial investment goals.

“4. The system of claim 3, wherein the process further includes the step of maintaining game metrics, said game metrics based on the relative performance of investments compared to said long-term financial investment goals.

“5. The system of claim 2, wherein the process further includes the step of publishing game metrics to said game server, said game metrics comparing a single user’s investment performance to the average investment performance for all users stored in said portfolio database.

“6. The system of claim 2, wherein the process further includes the step of aggregating said second numerical amount with additional electronic funds prior to transferring said second numerical transaction amount.

“7. The system of claim 2, wherein said game server represents a social media platform.

“8. The system of claim 2, wherein said game server represents a stand-alone kiosk configured to receive both electronic and physical funds.

“9. The system of claim 2, wherein computing an expected return from investing the first transaction reflects the historical performance of similar investments designed according to Modern Portfolio Theory (MPT).

“10. The system of claim 2, wherein user input modifies the first numerical amount of electronic funds to the second numerical amount of electronic funds.

“11. The system of claim 2, wherein the portfolio server represents a collective investment scheme.

“12. A method of redirecting in-game consumer transactions between a game server in electronic communication with a payment gateway server to a portfolio database, said payment gateway server configured to create an electronic payment gateway with the game server, the method comprising: intercepting a first in-game transaction of electronic funds conducted through the electronic payment gateway, the first in-game transaction of electronic funds having a first numerical amount of electronic funds, the intercepting comprising listening for any in-game transactions of electronic funds sent through the electronic payment gateway to an intended recipient; computing an expected return, wherein the return is based on the investment of the first numerical amount of electronic funds; presenting to a user through a graphical display of a user device, the expected return modifying a game metric, a game variable, or both, based on the first numerical amount of actual electronic funds; receiving a second in-game transaction of electronic funds conducted through the electronic payment gateway, the second in-game transaction of electronic funds having a second numerical amount of electronic funds and an indication of authorization to transfer the second numerical amount of electronic funds to the portfolio database, the second numerical amount of electronic funds differing from the first numerical amount of electronic funds; and electronically transferring the second numerical amount to the portfolio database at the portfolio server over the data network.

“13. The method of claim 12, further comprising converting actual funds, deposited to the game server, to an electronic payment for transfer over said electronic payment gateway prior to intercepting said transaction.

“14. The method of claim 12, further comprising the step of hosting a game at the game server, the game configured to receive electronic payments in exchange for virtual currency.

“15. The method of claim 14, further comprising publishing game metrics to said game server, said game metrics comparing the relative performance of a single consumer’s investment performance to the average investment performance for consumer accounts stored in said portfolio database.

“16. The method of claim 12, further comprising aggregating said second numerical amount with additional electronic funds prior to transferring said second numerical transaction amount.

“17. The method of claim 12, wherein said game server represents a social media platform.

“18. The method of claim 12, wherein said game server represents a stand-alone kiosk.

“19. The method of claim 12, wherein computing an expected return from investing the first transaction reflects the historical performance of similar investments designed according to Modern Portfolio Theory (MPT).

“20. The method of claim 12, further comprising modifying the first numerical amount of electronic funds to the second numerical amount of electronic funds based on user input.

“21. The method of claim 12, wherein said portfolio database represents a collective investment scheme.”

For more information, see this patent application: CRUTTENDEN, Walter; MARTELL, Jason. Systems And Methods For Managing Electronic Interactive Gaming-Based Investments. Filed March 24, 2021 and posted September 9, 2021. Patent URL: https://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220210279806%22.PGNR.&OS=DN/20210279806&RS=DN/20210279806

(Our reports deliver fact-based news of research and discoveries from around the world.)