Codex Protocol Aims to Help Art Collectors

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

June 26, 2023 06:56 EDT

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In our Quick reviews series we introduce interesting initial coin offering projects that might inspire you to do your own research and decide whether an idea and its development is worth your investment. It’s not an endorsement.

Today we are looking at Codex Protocol.

What problem(s) does it target?
Arts & collectibles is a two trillion dollar industry where the single most important factor, and single biggest flaw, is provenance – meaning the ability to document the history of ownership through that authenticity for a piece of art. Right now, there is no organized system for collecting, storing and accessing information on arts and collectibles and Codex promises to solve this problem.
Codex Protocol’s title registry for arts and collectibles should act as a framework upon which a wide range of commercial applications – dapps – can be built, such as offers, insurance, loans, marketplaces, asset-backed lending and fractional ownership.

Who the team members are?
Codex Protocol has an adept three-person C-level team, six additional employees who are experts in their respective fields, and seven advisors. They have managed to establish a consortium of over 5,000 auction houses even before their token generation event.

At what stage the project is?
The platform and the first application running on it, Biddable, should be fully completed and in real world use on actual auction sites at the time of the crowdsale.

What the main future milestones in their roadmap are?
Mainnet launch is set for this month, after the whitelisting period, but before the TGE. The roadmap does not show anything beyond July.

Fundraising status:
The presale is happening right now, and the TGE is set for the end of this month.

Most important partnerships?
Maecenas: a blockchain-based art marketplace;
DUST IDENTITY: a provider of a diamond based solution to link physical objects with digital ledgers;
The Clarion List: the directory of art service providers with ratings & reviews;
Luxury Asset Capital: an online alternative lending market, providing immediate, short-term capital to middle and upper-income individuals and businesses in exchange for luxury assets.

How large their community is?
Less than 2,000 Twitter followers, 58 subreddit subscribers, close to 12,000 Telegram channel members, and 83 YouTube subscribers. The community does not display a lot of activity beyond inquiring about the token sale.

What other similar projects are?
Qravity, ArtWook, imusify