Codex Protocol, a decentralized asset registry for the $2 trillion USD arts & collectibles (A&C) asset class, has just announced the launch of its token sale for commencing today at 12 p.m. UTC.
The token sale will have a hard cap of $15 million USD, and has already seen $12 million USD contributed in a successful private presale round, with notable contributors in the blockchain space including Pantera Capital. The token sale comes on the heels of the registry’s deployment to the mainnet on July 23 and the appointment of Daniel Grachanin, former Director of Product Marketing at RChain Cooperative, as the company’s new Head of Product.
Codex CEO Mark Lurie said:
When we started Codex, we aspired to create a platform that would eliminate many of the inefficiencies of working with unique assets, especially within the arts and collectibles market. Today, we are proud to realize these ambitions, launching a platform that can finally provide verifiable provenance and authenticity to this asset class. With the announcement of our token sale, and through our partnerships with some of the best and brightest companies in the industry, we believe that we are one step closer to creating a fairer and more transparent global ecosystem for all.
The Codex Protocol is powered by its native ERC-20 token, CodexCoin (CODX), and has a fixed supply of one billion tokens. CodexCoin will play an integral role in streamlining transactions between auction houses, dealers, collectors, experts, lenders, and other industry stakeholders by creating an overlaying governance layer that will promote best practices within the community. As an open source blockchain protocol, CodexCoin will not only encourage participants to interact directly within the ecosystem, but will also incentivize industry incumbents and newcomers alike to build innovative applications on the platform further driving engagement and overall value creation.
Codex COO Jess Houlgrave commented:
We at Codex have been both overjoyed and humbled by the positive response that we received from the private presale, and look forward to building upon this exciting momentum for our upcoming token sale. Our growth over the past six months has shown that there is a demonstrated need to provide verifiable provenance for unique assets.
Daniel Grachanin added:
As we take blockchain technology from ideation to practical, real world application, understanding how users will use and interact with the product is more important than ever. Through this exciting token sale, we can bring utility and added network effects to Codex by creating a decentralized platform where users can drive and control change within the arts and collectibles space. I’m excited to join Mark and the rest of the team to develop a product that will enable mass adoption and have a significant impact in the art market.
The Codex Protocol was officially launched to the mainnet on July 23 after a successful beta phase on the Rinkeby testnet. The mainnet launch will allow artists, collectors, and partner applications to create Codex Records for unique assets.