We formed Codex and launched the Codex Protocol in 2018. In May 2018, Ethereal Summit hosted the first auction to issue Codex-secured titles for all pieces sold at the auction. Each auction winner received their Codex Record, a Non-Fungible Token (also known as an NFT) based on the ERC-721 standard. All the NFTs are stored on the Ethereum blockchain and can be accessed via the Codex Viewer.
You can see a video of highlights from the auction on YouTube here. Here is the Codex Record for a CryptoKitty which was purchased using ETH for over $100,000 value at the time:
According to google, over the course of the year of our auction 2018, the total number of keyword searches for the term “NFT” was nil. 2021 appears to be the year that all changed.
Using The Codex Protocol, NFTs (aka Codex Records) can be generated for a digital representation of a physical asset, or a digital asset itself. The history of a Codex Record is permanently logged on the Ethereum blockchain, including it’s creation, modifications, transfers, and owner history.
We made the Codex Viewer easily accessible: sign up for a Codex account with your existing Web3 Wallet, or let Codex handle “everything blockchain” and sign up with an email address. Once you have an account, creating your first Codex Record / NFT is as easy as uploading images, any supporting documentation you may have, and filling out asset details such as creation date, artist name, etc!
When creating a Codex Record, collectors can choose to add specific metadata fields for details that are relevant for the item. Registering a classic car? Add the details for the make, model, and condition of your car on to the Codex Record. Registering a signed baseball card? Add the signature location and edition number of your card!
As a result, essentially anyone can create a NFT, and claim ownership. Anyone can document ownership, immutably. And then Codex allows you to definitively claim ownership, and therefore transfer ownership. There are some other platforms such as Mintable where you can do much the same, but Codex offers more robust NFT features for many use cases.
Here are some example NFTs registered on The Codex Protocol:
In fact, here’s a collection of NFTs Mark Cuban recently tweeted that he happens to particularly like:
One of the NFTs in this collection was created by our featured artist “Contoured Art” and has a Codex Record associated with it:
Coming soon, we will be adding a new “share feature” for Codex Records that will let you embed one of these badges with a link to your Codex Record anywhere on the internet:
Once you’ve created an NFT via The Codex Protocol, your record will automatically appear on OpenSea. OpenSea is a website that indexes NFT data from several smart contracts on the Ethereum blockchain and allows you to sell your NFTs on their marketplace. We expect collectors, galleries, and auction houses to increasingly realize the value of the pieces they collect & auction, and sales will be accompanied by an NFT for the new owner. Enterprises can essentially “sell” the claim to the owner, as a service.