Non-U.S. Public Sale Follows Successful Private and Presale; Whitelist Registration Opens July 2
Codex, a cryptocurrency and decentralized registry for unique assets focused on the $2 trillion dollar arts & collectibles (A&C) asset class, announces its highly-anticipated public sale for non-U.S. investors, to happen by the end of July. The whitelist for the non-U.S. public sale will happen from July 2 through July 6 for interested participants to pre-register for the sale. Codex’s non-U.S. public sale follows a successful private presale offering that began in March, attracting over $15 million to date from from some of the most well-known investors in the blockchain space including Pantera Capital.
Codex CEO Mark Lurie said: “From the beginning, the Codex team has been dedicated to improving and creating greater efficiencies within the art and collectibles market. Because Codex and our landmark application Biddable present clear solutions to common challenges in the auction markets, we have been able to bring on board a strong group of Consortium and Ecosystem members in just a few short months, ensuring wide adoption of Codex and CodexCoin. We are excited about the momentum we’ve built through the private sale, and are thrilled to bring Codex to the public in the next several weeks.”
The Codex Protocol will be powered by its native token CodexCoin. The CodexCoin supply sits at one billion, with 40 percent of the tokens available for the token generation event (TGE.) Codex’s hard cap for its total sale is $25 million. CodexCoin will create alignment the incentives of auction houses, dealers, experts, lenders and other industry stakeholders, and provide a mechanism to distribute governance to the community over time. A Community Pool will be created for application developers and grants will be provided to reward validators within the network and incentivize industry adoption of Codex as a standard. The Codex Consortium — a group of leading industry partners including collectors, auctioneers, dealers, museums, and other vetted organizations — will adopt the protocol and accept cryptocurrencies exclusively through Codex from day one. As an open source blockchain protocol, Codex will encourage third party players in the Codex Ecosystem, such as art insurers, collateralized lenders, and art logistic providers to build applications to utilize the title system.
Codex COO Jess Houlgrave added: “Codex Protocol and blockchain technology has certainly captured the interest of the art world in the past six months. Working with our Consortium partner, LiveAuctioneers, our live charity art auction at Ethereal Summit in May demonstrated how the Codex Protocol can function in the real world. During this auction, we wrote the first art pieces — including a record-breaking Cryptokitty — onto the Codex blockchain and raised over $190,000 for the Foundation for Art & Blockchain. The Foundation is proud to support artists creating blockchain-inspired works, as well as artists using blockchain to distribute their pieces to an expanding global audience.”