PROJECT COLLETRIX - THE BEST OF ITS KIND ON BLOCKCHAIN

omosalamy (25)in #colletrix • 5 years ago

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PREAMBLE

Several efforts have been made since the invention of blockchain and bitcoin to integrate and be utilized for the benefit of the global business process. Blockchain technology has the capacity to have a great influence on industries as a result of the great features it possessed some of which are: immutability, low-cost transaction, and enhanced security and so much more. Some years back, a lot of great implementation emanated having some special features that are made for some specific use-cases.
Blockchain made it possible for a visa to be issued via a distributed ledger framework. The cryptocurrency tokens help in making these assets been economically useful in getting involved in transactional processes. A good number of startups and companies have developed a lot of chain-protocol to proffer a blockchain based solutions.
With more revelation of technological innovations, Colletrix, being a world's first nonfungible tokens (the "NFT") have a goal to transform and reorganize the ownership of IP by assuring protection and giving more value to owners through tokenization and providing merchandisers and consumers that have authentic purchased products.

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INTRODUCING COLLETRIX PLATFORM

Colletrix activities are been manage by an expertise team from UNDONE, Animoca Brands, Future Arena, and Bitwork Accelerator. The expert team from UNDONE will be made to reveal the benefits of blockchain technology for merchant products, Animoca Brands will make the vast network of IP owners, blockchain, and gamification technologies known, Future Arena will rely on its strong position of sport and entertainment IPs. All these are for the creation of accommodating IP ecosystem, aiding trading with the use of blockchain.
Colletrix project is aimed to integrate the components of IP, blockchain, and merchandise to bring into reality a market value that is been powered by smart contract system, Ethereum.

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HOW COLLERIX WORKS

Colletrix utilizes the blockchain technology to give protection to intellectual property (IP) creators and confirm merchandise collectibles to know if there are truly genuine or not.
It's necessary to note that a loss will be recorded on the part of IP creators when IP gets transferred or sold. It is necessary for consumers to use the archaic method to confirm the authenticity of the collectibles they buy.
Colletrix makes it possible for artists to tokenize their IP onto assets, given them the privilege to give more protection to their IP when they trade their tokens.

THE CIPX TOKEN

Colletrix token (CIPX) is a cryptocurrency with ERC-20 standard and endorsed by Ethereum network.
There are various ways the CIPX can be useful, however, its main purpose is to be used in NFT purchases issued through the NFT Marketplace. Other uses include;
Crypto-exclusive special edition merchandise purchasing
Marketplace trading
NFT priority purchasing
Platform payment

CONCLUSION

Following the features and facts that accompany colletrix, it is good to say it is suitable for review and investment. The platform is beneficial to IP creators, merchandisers, collectors, and CIPX holders.
Many established companies have started making use of blockchain in tackling some of the problems they are facing in creating market value and source of income for the owner of IP but with the invention of this project, this problem will be solved and the parties involved will benefit greatly from the merchandise production.