New feature: improving provenance on Codex
We’re thrilled to announce the newest feature on Codex that helps collectors better manage their item’s provenance.
We’re excited to announce a new feature on Codex! In our latest update to Codex Records, users can now now add provenance details to Codex Records.
Before the update, when creating a Codex Record, users could add text for a title and text for the description. All details about the item had to be typed into the general description section, as shown in the image below. Now, specific metadata fields have been added to the Record creation process.
With the new Codex Record creation, collectors can turn a switch “on” for the specific details that are relevant for their item. Registering a classic car? Add the details for the make, model and condition of your car on to the Record. Registering a signed baseball card? Add the signature location and edition number of your card.
The new “Details” provenance section of Codex Records is designed with multiple detail fields to accommodate any collectible category. The details enable collectors to make minor modifications off-chain. Text changes to title or description are recorded on the blockchain, but these details are not.
Created Codex Records before this feature was available? Don’t fret — all existing Codex Records can be modified to include these new details. See how and where you can add “details” to your Records, check out this video for a preview of the feature!
Adding these “switches” and categories to Codex Records not only creates a more robust provenance section for items, but it lays the groundwork for upcoming functionalities. With these new metadata fields, we will soon be adding tagging features to Codex Records. Users can tag a Record via category, like watch or painting. This will make searching for items in your collection easier and allow you to organize and sort your items into categories.
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’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 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.