The Platform with the Goal to End Inconsistencies in the Art and Collector’s Business

Most people always feel they have some kind of treasure buried at home, very few actually manage to score something great that has worthy value in the secondary market. The Codex Protocol is coming to fix that problem with their brand new platform built on Blockchain Technology that will truly bring a sense of order and uniformity to a market that desperately needs a sense of structure and more honest practices.

The use of Blockchain is certainly a game changer for the art and collectible market since it brings every player to a leveled field where true demand will set the prices of each item traded over the Codex platform. Here are a few reasons why Codex is important and what users will be able to do with it.

Codex will bring the Use of “Item Identity” into play

Item Identity is probably the most important feature offered by the Codex Protocol since it will provide users with the authentic value and validation of the items offered on the ecosystem. Manufacturers can get involved with modern items, but curators can get involved too.

The Blockchain nodes are being set to provide the provenance history of each item listed on the platform. While it will probably work wonders with new items, the company is looking to test their mettle by handling registry of classic paintings, vintages watches and authored pieces such as sculptures, first prints of certain books and pre-1950 comic books.

Most of these items get a lot of attention from collectors all over the world. Sadly that makes these items subject to numerous forgeries and attempts at falsification. The provenance history being set up in the Blockchain will create a registry of ownership of the item that could extend well back to the moment it was created if the appropriate curator gets involved with the platform.

Validation Protocols that Offer Rewards

The use of cryptocurrencies in the deals managed on the platform certainly offers a good incentive to bring specialized people looking to lend their knowledge to validate items. Their involvement invalidation procedures will build the backstory for potential buyers who might wish to get an immutable record about the collectible they are getting on the platform.

The process is managed just once each time an item is traded. The provenance of an item will remain clean until it changes hands and will change only if the new owner has anything to say about it. It’s possible that the process adds to the value.

This is a big departure from the established method of verification that has a number of experts and people relying on street smarts to price a collectible, sadly most of the time with a cost that is well under the expectations of the dealer or not adjusted to the market’s value.

If you wish to learn more about the vision behind the creation of the Codex Protocol you need to visit https://codexprotocol.com/