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Codex Protocol: Giving Sustainable Name and Value To Art Assets and Other Collectibles

Eseandre Mordi

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 In recent contemporary times, people have come to really appreciate ingenious products or works of art, and other valuable collectibles that are as old as history itself. Hence, sometimes we always want to have one or two in our possession, to display and be proud of. But then, there’s the problem of acquisition, and it may seem difficult sometimes, trying to put a real ownership and cost value to a piece of art or some other important collectibles.

The downside of this, is that people may run into uncertainty, as well as big-time losses for their new purchases; especially if they suddenly discovered they had bought a wrong or fake item for the intended one, and that they had probably bought them for a much-inflated price. This brings to light the need for a fail-proof system that has every important art and collectible on an immutable record, such that every buying and selling is backed up by real information data that protects the new owners of the registered items from identity and financial value losses. These are the essence of the Codex™ protocol which adequately grants provenance to art and collectibles; since this is a major determinant in what price value an item holds over time.

How does the Codex™ protocol work?

The Codex protocol works as a decentralized title registry for art and collectibles, and as such, the platform is expected to register a massive number of asset collections from different locations worldwide. It aims at making this possible by an impressive collaboration with over 5,000 auction houses, with an estimated $6 billion annual turnover from the ecosystem. All of the transaction and sales would be made visible on the Codex blockchain such that all participating users can always see the information from time to time. With this structure in place, users who are owners of registered assets can confidently make claims of their asset value worth without any uncertainty, while intending buyers are assured of the authenticity of claims; this means both parties are assured of provenance for the particular item.

In order to make this objective pull through, the company is employing an active collaboration with every important stakeholder in the asset auction and acquisition industry.

Another peculiarity of the Codex blockchain is its ability to host decentralized applications (dApps). An already built application on the blockchain, is Biddable. Biddable is an auction mobility platform where investors can place bids on interesting items.

The blockchain’s dedicated Codexcoin tokens would consequently fuel all of the transactions on the Codex platform. The tokens would be made accessible to prospective users and investors, at the company’s ICO fundraising events.

The ICO events

Codex ICO has been slated to take place starting from May, till July 2018. The company has issued a hard cap placed at $35 million for the project; which is to be raised from both the pre-sales and the public sales offers. While the crowdsale is ongoing, participants in the organized EarnDrop program can also win bonuses of up to $200,000, by following simple instructions, and then complete the KYC procedures.

All of the Codex protocol roadmaps are an effective framework, which signifies high-level prospects for remarkable success on the cryptocurrency space.

Visit Codex website: https://codexprotocol.com/

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