Colletrix : Revolutionising the merchandise and IP industry through tokenisation.

chikky08 (46)in #blockchain • 5 years ago (edited)

Introduction

The integration of "intellectual property" (IP) into the market of merchandises has undoubtedly brought about a positive impact, leading to soaring rates of industrial viability and operational efficiency. Whilst this is quite commendable and a great leap in the right direction, it is still evident that there is more to be desired of the industry, and neutralising certain tailbacks that has hampered the growth, is just perfect for a start.

Counterfeiting is one menace that has rocked the boat of the industry for years, and has led to eventual loss of consumer confidence for many top brands. A recent report depicts that counterfeit goods account for about 2.5% of the world's global trade importation, and amounts to nearly $500billion annualy. For these brands, it's not just lost revenue, but also lost brand equity.

The grossly undervalued nature of intellectual property (IP) owners and model is another aspect that needs to be addressed, if there's any hope of revamping the industry. In our conventional business world, many examples can be cited, where IP owners are heavily underpaid due to lack of product/service licensing; which is a rather contradictory picture to the one painted in the famous Bill Gates' quote .

In order to accelerate the growth of the industry, these bottlenecks must be addressed in an efficient manner. The preceding paragraphs depicts that there is indeed, a missing element in the jigsaw puzzle, one capable of turning the tides and revolutionising the IP industry for good.

Colletrix: A New Lease Of Life For IP

Colletrix presents a radical solution to existing issues in the industry by leveraging blockchain technology, thus presenting industry participants (collectors, merchandisers, IP owners and crypto-enthusiasts) the rare opportunity to enjoy the full fledged benefits of an intersection between the old system and the new system fueled by the distributed ledger technology.

Colletrix's ecosystem is characterised by a unique tokenised system which involves the adoption of NFT (Non fungible tokens). These tokens serve the multifaceted purpose of restoring value to IP owners and their services, ensuring that they finally get the deserved reward for their merchandise, as well as suppressing and consequently defeating merchandise counterfeiting.
With Colletrix, every IP owner can now fully license their product through a unique token (NFT) which is associated with the particular product. This births an economic model referred to as "IP-NFT market" ( NFT marketplace). This system gives IP owners the opportunity to benefit immensely, as they are rewarded a fixed percentage of NFT trade price proceeds, thereby solving the age-long problem of value recession and low revenue. As the NFT value increases exponentially through merchandise development and popularity, the IP owner can in turn gain from active trading.

Merchandisers are not left out of the Colletrix train either. The idea of tokenisation will ignite an era characterised by product uniqueness and less counterfeiting. Merchandisers can also rely on the collective intelligences of IP owners to deliver ground breaking merchandises when the are granted IP license for holding the NFT.

For collectors, working with collectibles requires them to constantly keep records of product ownership, and lots of vital details. This cumbersome process has been simplified, thanks to Colletrix leveraging blockchain technology. Collectors can now rely on the immutable and verifiable feature of blockchain to keep track of, and ensure that ownership history, trade information and other sensitive data are untampered with .

CIPX is the native token of the Colletrix ecosystem. Holders of this token can participate actively in the ecosystem.

TOKEN DETAILS

Final Thoughts

The world of merchandise is one that humans cannot exist without. It's immeasurable importance births a constant need to reevaluate and improve on existing solutions. The advent of blockchain technology, through Colletrix has finally bailed humanity for good. The future is now ! Carpe diem .

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