Codex 2020: Looking back and looking forward
2019 was a transformative year for Codex. Look back on the highlights from our last quarter and what to expect moving forward.
2019 was a monumental year for Codex. We experienced tremendous traction volume and our growth is best exemplified in numbers. The following figures depict our growth during 2019.
Updates from Q4
Q4: Auction Mobility Auction Houses
70 auction houses from the US, UK, Europe, Australia, Asia and South America are all registering entire auction sales onto the Codex Registry. At this point in mid December, Auction Mobility houses have registered over 190,000 items onto the Codex Registry.
Q4 Transaction Volume
For eight weeks during quarter 4, Codex was among the top 10 dapps on Ethereum with the highest transaction volume. This image, from nonfungible.com, shows Codex as the dapp platform with the most transactions on Ethereum for the week of December 9th. A majority of this use comes from our Auction Mobility auction house partners.
In November we successfully launched our integration with LiveAuctioneers, the world’s largest online antique and collectible marketplace. Their customers can instantly claim Codex Records for items they buy on LiveAuctioneers. We had a huge spike in new users and Records when the integration launched, and that growth has continued. You can see the spike in November and continued rise of new users through December in the graphic below.
Q4: Records & Registry Growth
This quarter there was a tremendous increase of Codex Records created. And given plans with our auction partners for this year we anticipate continued growth. We hit the milestone of 200,000 items added to the Codex Registry in December.
There has been massive growth of the Registry because of the auction houses, but there has also been a large increase of individual collectors registering works on Codex. Many of the individual collectors have come from our integration with LiveAuctioneers. The graphic below depicts growth from “individual” users. These are Records registered from collectors and artists, these Records did not come from Auction Mobility auction houses.
It has been a great quarter at Codex as our partnerships with Auction Mobility and LiveAuctioneers develop and scale. We look forward to continuing this evolution into the new year.
2020 →Looking forward
Looking forward: tokenomics and CODX
Last year our focus was on broad adoption and utility of the platform. Now that we’re confident in the success of the platform and how we’ve built it out, one of the primary goals for Codex in the beginning of 2020 is to thoroughly flush out and implement the tokenomics. By the end of Q1 2020, CODX will be distributed to all token buyers (this process began last quarter), bounty participants and public sale registrants. After CODX tokens have been fully distributed, we anticipate turning on fees for savvy users so that they may pay for Record creations, modifications and transfers with CODX tokens.
A base framework for our tokenomics plan is outlined in Codex’s whitepaper. In the beginning half of this year we want to finalize and refine it such that it reflects the structure in place with our developments. As the whitepaper model outlines, we are building a plan makes use of tokenomics and staking to invective good behavior and strength of the platform.
Looking forward: collectors and the Codex Viewer
In the new year we are focusing on developing Codex to best serve our dedicated collectors coming over from LiveAuctioneers. The Codex Viewer will evolve as we learn more about the needs and desires of our collectors.
Looking forward: partnerships
This quarter we will continue to work with our partners at Auction Mobility to register more auction houses onto Codex.
Collaboration and developments with Tagsmart continue, and we are hopeful that we will have a highly requested integration with Tagsmart during this quarter.
With an established product and vision moving forward, we are looking forward to developing the Codex ecosystem and forming new partnerships. The team is constantly talking with potential partners and finding ideal partnerships for the ecosystem, with some exciting developments and conversations currently in the pipeline.
Looking forward: Telegram
This quarter, as we move past distribution and into regular business operations, we do not foresee the need to keep the telegram channel open past Q1. Engaging with the community is a high priority for Codex as it ensures that we continue to build the platform to best serve our users. There are a variety of other productive ways to reach and engage with the team, including direct messages on the website, via email, Medium, our website’s blog, Twitter, Facebook, Linkedin and Instagram.
We love to hear from you; if you have any comments, questions or suggestions please comment down below or reach out to us on any social media site. Wishing you a great 2020 from the Codex Team!
Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Codex will be adopted 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 over 50 countries.
To learn more about Codex initiatives, visit our white paper. To inquire about partnerships and developing dApps using the Codex Protocol, please contact us via Telegram or Twitter