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Codex Protocol, a decentralized asset registry for arts and collectibles (A&C) asset class, has announced the appointment of Daniel Grachanin, former Director of Product Marketing at RChain Cooperative, as the company’s new Head of Product.
The company has also announced the launch of its token sale, kicking off today at 12 p.m. 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.
“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,” Grachanin said.
The token sale follows the registry’s deployment 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.
The Codex Protocol is powered by its native ERC-20 token, CodexCoin (CODX), which has a fixed supply of one billion tokens. The token will help streamline transactions between various stakeholders – auction houses, dealers, collectors, experts, lenders, and others – by creating an overlaying governance layer that will promote best practices within the community. It will encourage participants to interact directly within the ecosystem, as well as incentivize industry incumbents and newcomers to build innovative applications on the platform.
“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,” Codex CEO Mark Lurie said. “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.”
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