Blockchain-based digital collectibles platform
Codex Protocol is developing a blockchain-based decentralized title registry for the $2 trillion art & collectibles markets. The company claims that it is supported by a large industry consortium, which allows Codex to stores ownership and provenance while ensuring privacy for collectors. The protocol and its dApps are created in order to make sure collectors can easily find what they want, buy at auctions, and ensure authenticity. Some of the collectibles that are supported by the protocol include the likes of art, fine wine, antiques, decorative arts, jewelry, and so on. The protocol will be powered by its own native token, with open source supports to allows third-party players to participate in the ecosystem.
According to Crunchbase, Codex Protocol has raised a total of $5.7M in 4 funding rounds, with the latest one finished on July 20, 2018. There are 4 investors who contributed to the project, Ausum Ventures, J Capital, Pantera Capital, and FJ Labs. To achieve its mission, the company also established partnerships with various industry leaders. Some of them are LiveAuctioneers, Auction Mobility, Maecenas, ValueMyStuff, OpenSea, BANKEX, Feral Horsed, The Art Newspaper, Luxury Asset Capital, The Clarion List, and Artval.
According to its website, collectors can use the platform with ease. They can collect, locate, and verify the authenticity of a collectible by viewing its identity and ownership history on the Codex Viewer. They can also search an asset by searching for its title, creator name, or Codex Record number, to see the detailed provenance, including photos and documentation. Last but not least, they can also use the platform to secure their collections or creations on the blockchain. The company claims that users experience should be better, and the process to be a digital collectors would be easier than before.