COLLETRIX: CHANGING THE IP WORLD THROUGH THE BLOCKCHAIN TECHNOLOGY

aaarezy (41)in #ieo • 5 years ago

Introduction
At present, owners of intellectual properties (IP) face a lot of hurdles even after they’ve struggled to invent something new. They are not accorded the right credit for their works and this culminates into reduced revenues for the IP owners. Besides, the blockchain technology which had the potentials of bringing transparency and increased value for the luxury merchandise market is yet to be fully incorporated into the IP industry.

Furthermore, another great challenge that IP owners face is that of fake products and counterfeiting rampant in the market because of dubious personalities selling duplicated products to consumers. It, therefore, becomes difficult for the merchandisers of the original products to survive in the market because of the lower prices of the fake products.

In a similar vein, the current IP industry is premised on a faulty business model that plummets the value and income accruing to the IP owners from their licences. The license used to have an ephemeral lifespan and owners don’t get to enjoy their license forever. This makes the IP owner unsure of what would be his income from his license. It equally becomes difficult to merchandise the franchise as the IP owners can’t guarantee the buys of a lifelong exclusive right on the licence so purchased.

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ABOUT COLLETRIX BLOCKCHAIN PLATFORM

Colletrix network is among the earliest structures of the Intellectual Property (IP) industries that confers the abilities on the IP owners to issue licenses forever through the use of tokenized economy. On Colletrix platform, a novel model of business model is birthed by the incorporating of the conventional and new economy into each other. Colletrix brings the technology of blockchain into the IP industry to set up an entirely new market value for the end-users and participants.

Colletrix uses the NFTs to introduce flexibilities into the gains of the collectors and this ease their access to the digital currency market as well as broader business chances such as investment in franchises. Colletrix plans to be among the earliest platforms that will encourage wide transformation and synergy of the global economy.

Benefits Of Colletrix Platform To The IP Industry
Colletrix Network is an ecosystem with a business model that offers a win-win relationship for all participants of the merchandise industry, basically the merchandisers and the IP owners. For the IP owners, the Colletrix platform ensures that owners of IP have a long-lasting right on the licenses issued on their IPs through the use of NFT. A framework of blueprint specifically designed for the IP owners will be incorporated to their NFTs and this will subsequently birth the development of the auxiliary NFT marketplace called the IP-NFT. The holders of the IP can be sure of a steady and regular share of the sales that the IP owners create their profit.

For the merchandisers, they can be sure that the IP they are purchasing has not been counterfeited. Colletrix ensures this through the use of NFT. The merchandisers have their market coverage expanded and a virtual marketplace through the use of blockchain technology.

CONCLUSION

Colletrix infrastructure is a blockchain-based network that seeks to improve the revenue of both the IP owners and merchandisers alike. The local currency on the network is CIPX which is the Colletrix token. It is an Ethereum-based ERC-20 standard type-token which can be gotten from the NFT Marketplace. All transactions on the ecosystem are carried out using the CIPX tokens.