Codex Protocol, a decentralized asset registry for the arts & collectibles (A&C) asset class, has announced the launch of its token sale. 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 the 23rd of July, and the appointment of Daniel Grachanin, former Director of Product Marketing at RChain Cooperative, as the company’s new Head of Product. The mainnet launch will allow artists, collectors, and partner applications to create Codex Records for unique assets.
CEO of Codex, Mark Lurie explained: “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 assist 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 encourage participants to interact directly within the ecosystem and will also incentivize industry incumbents and newcomers to build innovative applications on the platform, further driving engagement and overall value creation.
Jess Houlgrave, Codex COO, remarked: “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.”
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.”