Codex Protocol and OpenSea Announce Integration Partnership to offer Proof-of-Assets for Arts & Collectibles
Codex Protocol, a decentralized registry for unique assets, and OpenSea the first and largest peer-to-peer marketplace for crypto goods, have partnered to extend cross-platform services for tokenized digital collectibles on the Codex registry and OpenSea marketplace.
The partnership is an exciting opportunity to provide token purchasers on Codex and OpenSea with access to a variety of services and audiences to buy and sell assets. OpenSea marketplace users will be able to create Codex Records and access services through the Codex ecosystem, which includes partners offering asset-backed lending, fractionalized ownership, and could include royalty contracts for future sales of the items. To buy, sell, and trade unique digital goods, Codex Record holders can list their non-fungible tokens on the OpenSea marketplace and trade their crypto collectibles while preserving the provenance of the item from Codex for the next buyer.
“The Codex Protocol decentralized registry for unique assets offers access to a range of products and services from our partners while maintaining privacy and simplicity. We’re thrilled to bring OpenSea into the Codex ecosystem to further extend the reach Codex Record holders have when buying, selling, or trading crypto-collectibles ” — Mark Lurie, CEO, Codex Protocol
Popular digital collectibles earn high prices the way collectibles always have; scarcity. Creating digitally rare items is finally possible with blockchain technologies by the issuance of a limited number of digital copies tied to unique blocks proving ownership. An early leader in the market for crypto-collectibles, CryptoKitties have commanded prices as high as $140,000 at the Codex + Rare Ethereal Art Auction.
Games like CryptoKitties have powered new and clever ways to interact with code (like breeding cattributes) and continue to bring attention to crypto assets. Art, games, and other virtual goods built on blockchain technologies will be added to the OpenSea marketplace, and Codex will ensure that the primary value driver of the items — the provenance information — is valid and trustworthy.
About OpenSea
OpenSea is the first peer-to-peer marketplace for blockchain-based assets, which include collectibles, gaming items, and other assets backed by a blockchain. The OpenSea team has backgrounds from Stanford, Palantir, and Google, and is funded by YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital. OpenSea is currently the largest general marketplace for user-owned digital items, with the broadest set of categories (60 and growing), the most items (over 1 million), and the best prices for new categories of items. Since they launched their beta back in December, the site has had over 1,300 ETH pass through their market.
About Codex
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. Powered by the CodexCoin 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 has launched two initial decentralized apps, Biddable, providing access to unique assets for crypto-holders, and Codex Viewer, to create and manage blockchain identities for your unique assets. The Codex Protocol and CodexCoin 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 over 50 countries.
