CODEX PROTOCOL - Blockchain Based Registry for Unique Assets
The art is that one thing that separates us from animals and makes us humans. It is a part of our nature to appreciate and enjoy the beautiful items created by other humans. Every individual develops a personal taste, so for someone, the Mercedes SL 300 Gullwing may create that divine emotion that will be triggered by Michelangelo's David or bottle of Chateau Lafite from 1787 for someone else. Having beautiful, rare and expensive objects in our possession or even creating a private collection of some unique assets is an ultimate life goal and passion for many people. It is not hard to understand why especially when we see prices of arts and collectibles going through the roof in many public auctions.
Using art and collectibles as a store of value and investment is a perfect way to enrich your life, enjoy the beauty and make money at the same time. Life doesn't get much better than that. In the 21st century buying arts and collectibles become a usual way of diversifying the portfolio of every serious investor. One report from last year is telling us that investment motives are cause for 86% of all art purchases. One of my favorite artists of 20th century, Andy Warhol, was a man ahead of his time when he stated:
Making money is art
and working is art
and good business
is the best art
Arts & Cryptocurrencies
How is this newly established asset of arts and collectibles connected with cryptocurrency and blockchain world? First of all, a creation of Bitcoin by Satoshi Nakamoto (what a great name for an artist) could be considered an art in many segments, but we can talk about that some other time. Today I want to tell you about CODEX PROTOCOL and how it perfectly merges these two worlds.
Codex Protocol is blockchain based ecosystem developed primarily to resolve one of the biggest Arts and Collectibles industry problems - determining the provenance of every valuable object on the market. Without strong proof of identity, every A&C object is almost worthless and with no chance to be sold. Through the history forgery of different paintings and other valuable arts was so usual that we even have a dozen books and movies on that subject. My favorite is F for Fake by Orson Welles. In many cases, buyers brought worthless pieces of art for millions of dollars based on falsified provenance documentation. Blockchain technology could easily prevent this from happening.
Having just basic knowledge about blockchain distributed ledger system explains why blockchain technology represents a perfect solution for determination of provenance in the A&C industry. It is an unfalsifiable, easily accessible, low-cost, transparent and traceable system that will become a new standard in the registry of unique and valuable assets thanks to the Codex Protocol.
Codex Protocol ecosystem already made some giant steps in its development and created a consortium of more than 5000 auction houses making $6 Billion in annual sales. The first part of the project was to create an easily accessible platform, named Biddable where everyone can search, bid and buy some of the 10 million items using cryptocurrencies. You can already start a search for your favorite art objects on BIDDABLE, and according to Codex Protocol team, direct cryptocurrency payments will be available shortly. The major segment of Codex Protocol project is at the BETA PHASE, and you can join it and even see its development progress on GITHUB.. When fully developed we can expect from Codex Protocol to become a future standard for $2 trillion worth A&C asset class and change the way of determining the providence of valuable objects in general.
Codex Protocol team is setting up their ICO with a goal to fund the future development and expansion of the project on other categories of unique assets. You can already participate in presale HERE. The Whitelist Sale Registration will be conducted from July 2 to July 6, and public sale is expected to start at the end of the same month. Codex Protocol is leaving an impression of the almost fully developed project that has a great chance to revolutionize one whole industry sector and become highly profitable in the near future. Codex Protocol is one of my favorite ICOs in 2018, and I encourage you to start your due diligence by reading their WHITEPAPER before making your final investing decision.
There will be one more article about this promising project with more technical details, tokenomics, and team information in the next few weeks. Until then you can connect with Codex community on their TELEGRAM CHANNEL, spend some time on BIDDABLE and maybe even buy something beautiful that will enrich your life and make you some profit at the same time.