Tokenizing Valuable Art & Collectibles With the Help of Blockchain is Here to Stay!

Whether you own a rare Picasso painting or a rare Porsche 911 in your collection of extravagant items, unknowingly you are driving a 2 trillion global market. Holding a piece of history or rarity that no one has is a status symbol amongst the top 1% of the wealthiest people on earth. The rule of valuation is simple, the more unique and rare the higher the price will be. Auction houses worldwide try to get their hands on the most exclusive items to put up for auction as there is an ever-growing number of customers with extra-deep pockets willing to pay big.

One of the industry’s current biggest issue Is the provenience of the items. While the owners might claim that their possessions have legitimate sources, one can never really tell even with the most prominent experts as most of the times there is no definitive proof of provenance. Blockchain technology, however, is here to change that for good!

Introducing the Codex Protocol: The Blockchain for Art & Collectibles!

The team behind this ambitious project is looking to address a pressing issue in the world of expensive collectables, the proof of authenticity. Thanks to the immutable ledger system, potential buyers can instantly query the entire history of the item and consult its provenance. Backed by advanced mathematical concepts, the blockchain ledger requires no third-party security system as information as the whole database is stored on tamper-proof systems that by today’s standards are virtually unhackable.

Once the primary network is launched, backers will have access to a broad consortium of Art & Collectibles that have a verifiable chain of ownership which give the items their ultimate value. The ecosystem is built in such a way that solves the entire safety infrastructure of the auction industry managing, reselling and buying A&C assets.

Reward Systems worthy of the revolution of value!

So how do the future owners of the items stored on the Codex network validate the current state of authenticity? The ecosystem will feature a wide array of certified Validators that will verify the details and supply their research to the end users thus ensuring the integrity of the item and the overall credibility of the protocol.

The initial rewards will be decided on a discretionary basis, but as the platform matures, bonuses based on insights and distribution algorithms will be deployed based on a reputation system that quantifies each’s level of expertise. With the help of CodexCoins, a utility ERC20 token, users or even automated applications will be able to update, create and transfer data to the Immutable Codex Records. The collected fees will be used to further improve the reliability of the ecosystem by offering bounty bonuses.

Should you be interested in participating in this revolutionary project, you can register for their token crowdsale and purchase CODX tokens at 0.067 per token. The team is looking to raise 15 million USD as a soft cap and 25 million USD as a hard cap. The sale is set to start at the end of July 2018.

For more information, please visit https://codexprotocol.com.