Colletrix: Promoting IP and merchandises through tokenisation
Intellectual property forms the bane of virtually every human invention and discovery from time immemorial till date. Through various developmental stages, mankind has forged his world gradually into the one it is today. One would not be mistaken to divert all accolades to the invaluable creations of human intellect. In order to continually record progress in our modern world, intellectual property owners must be duly rewarded and compensated for their daring efforts.
It is quite unfortunate however that our current business world does not encourage new and existing IP owners. IP owners in our conventional business world cannot fully license their products, thus, giving room for others to expressly use their inventions without permission, and none for them to benefit from their work. It is imperative to mention that with the ongoing rate of devaluation of IP owners and their products, there is likely to be a huge decline in their numbers and consequently, a dip in global development rates in the coming years.
Their inability to license products has given counterfeiting a free hand in our market today. Infact, a recent study reveals that 80 out of every 100 item imported globally are counterfeits. The impact of counterfeiting is more damaging than we imagine, as top brands are now forced to channel huge portions of their revenue into fighting it.
Dedicating one's time and money towards seeking ways to better humanity is no small task. IP owners and every other industry participant deserves better .
Colletrix
The idea behind the Colletrix project is to initiate a revamp of the industry by introducing tokenisation through blockchain technology. Today, many small, medium and large scale enterprises are embracing tokenisation by adopting blockchain technology. Colletrix shows how the highlighted problem can be dissolved by tokenising the industry.
As trivial as this sounds, tokenisation is indeed highly effective, as it provides an alternative route for IP owners to license their products and services. IP owners will possess a unique NFT (Non fungible tokens) which will form the basis of a unique product identification and authenticity system.
The transparent and immutable power of blockchain effectively comes into play in the aspect of safe keeping sales and IP ownership records.
Under the tokenised system put forward by Colletrix, IP owners will earn from trades of their NFT. This model will enable IP owners focus more on quality products and service delivery, so as to earn more form high demands of their NFTs. As a result of this, counterfeits will have no place in the market, as black market vendors have no access to the NFTs associated with these products. Infact, they more they indulge in counterfeiting, the more they assist actual IP owners in increasing revenue, while they get nothing themselves.
The NFT trade marketplace is the home to all trading activities on Colletrix. Users can purchase NFTs using CiPx, which is an ERC-721 utility native token of the platform.
Merchandisers and collectors are other parties that can greatly benefit form Colletrix. Whist the former will experience an upsurge in returns due to 100% product uniqueness, the latter will have an easier time keeping records of collectibles, courtesy of blockchain!
Final Thoughts
The IP and merchandise industry has long been yearning for a change. It was long awaited, but it was certainly worth the wait. Colletrix is definitely one project with actual value, and a target market. We cannot but hope for major improvement in years to come .
For more details about this project, click on the link below
Website: https://www.colletrix.com/
Twitter: https://twitter.com/colletrix
Facebook: https://www.facebook.com/colletrix.io/
Telegram: https://t.me/colletrix
LinkedIn: https://www.linkedin.com/company/colletrix
Writers Details
Bitcointalk Username: Chika08
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2107609