NEW YORK – Codex, a cryptocurrency and decentralized title registry for the $2 trillion dollar arts & collectibles (A&C) asset class, has unveiled a distinguished catalog of crypto-theme artwork that will be made available at the live Codex Charity Art Auction at Ethereal Summit on May 12, 2018 in New York City. Codex Consortium member and leading online marketplace for collectibles, antiques and fine art, LiveAuctioneers, will enable bidders to participate absentee or live via the Internet from anywhere in the world through its platform.
Auction to utilize revolutionary tech protocol that heightens trust and security in online art and collectibles transactions
The auction will feature donated pieces from top-tier organizations in the space, including an exclusive CryptoKitty (shown at top of page) from blockchain-based gaming phenomenon CryptoKitties, the world’s most successful blockchain game that accounts for 25 percent of the traffic on the Ethereum network at peak times. Proceeds will go to the Foundation for Arts & Blockchain, which was created to support global artists creating works with or about blockchain, and artists using blockchain to distribute their works.
Codex CEO Mark Lurie said, “This specially-curated catalog of crypto artwork and collectibles represents a major milestone for Codex as we continue to realize the true value of arts and collectibles. Through our live, interactive demonstration at Ethereal Summit, we hope to showcase to the greater crypto community that Codex is more than a concept — it’s a fully-functioning platform with the potential to revitalize arts and collectibles as a financial asset class. We are excited for what’s in store at Ethereal Summit.
The full catalog of pieces to be auctioned, including Cryptograffiti, Jessica Angel and Kevin Abosch, can be found on LiveAuctioneers, where interested parties can explore the catalog ahead of the live event, leave absentee bids, or sign up to bid live via the Internet as the auction is taking place.
“The live Codex auction at Ethereal Summit will be a pivotal moment in expanding access and trust in the collectibles industry, and we at LiveAuctioneers are proud to be part of it,” said Phil Michaelson, President of LiveAuctioneers. “As many experts would attest, it is a difficult process to confirm the authenticity of art and collectibles before they go to auction, and it is also difficult to ensure that bidders around the world are qualified to pay and can transfer funds to complete a purchase. At LiveAuctioneers, we remain committed to providing our auction-house partners with technological solutions to grow their audience globally and improve confidence in online transactions between buyers and sellers. The Codex protocol is a promising technology that addresses both the payment and provenance challenges facing our global industry, and we believe it can have a tangible impact.”
Cryptokitties Co-founder and CEO Roham Ghaaregozlou said, “CryptoKitties was created to share the potential of blockchain technology with a wider audience, especially as it relates to art and digital ownership. Unlike cryptocurrencies, such as Bitcoin or ether, CryptoKitties are crypto collectibles that secure ownership of digital art via distributed ledger technology. For the Ethereal Summit, CryptoKitties’ art director, Guilherme Twardowski, created an exclusive CryptoKitty that embodies the spirit of this event. We hope that through this contribution, not only can we give back to the broader art and blockchain community, but we can also shine a spotlight on the future viability of art and collectibles—and the potential it raises for art, artists, and art lovers alike.”
Art and collectibles sold at Ethereal Summit will be the first written onto the Codex blockchain. Buyers will receive a Codex title, which provides them with an accurate and immutable ledger of the product’s provenance and authenticity, which will help them preserve the value of the item.
Hosted by ConsenSys, the Ethereal Summit highlights a day of substantive sessions featuring notable entrepreneurs, investors and government officials regarding the future of blockchain and its mainstream applications for cultural projects. The live Codex Charity Art Auction at Ethereal Summit will take place at on May 12, 2018 at 7:00 p.m., at The Knockdown Center in Brooklyn, New York. Click to view the catalog online and sign up to bid absentee or live via the Internet through LiveAuctioneers.
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Codex is the leading decentralized title registry for the $2 trillion art & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative art, coins, watches, jewelry, and more. Powered by the BidDex native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy, and bidder access. The Codex Protocol and BidDex will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in more than 50 countries. To learn more about the Codex Protocol and Biddable, visit www.codexprotocol.com.
Founded in 2002, LiveAuctioneers digitally connects an audience of millions with the live-bidding action at almost 5,000 premier auction houses and galleries in 59 countries, providing a highly curated and trusted marketplace of unique items. Privately owned and headquartered in New York City, LiveAuctioneers is the world’s preferred online source for fine and decorative art, antiques, jewelry and vintage collectibles. A pioneer in mobile-bidding technology, LiveAuctioneers opened a new bidding pipeline in 2009 with its development of both an industry-leading app for iOS (Apple) devices and the first live-auction bidding app for Android.