Codex, a cryptocurrency and decentralized title registry for the $2 trillion dollar arts & collectibles asset class, has unveiled a distinguished catalogue of crypto-themed artwork that will be made available at the live Codex Charity Art Auction at Ethereal Summit on May 12.
The auction will feature donated pieces from top-tier organizations in the space, including an exclusive CryptoKitty from blockchain-based gaming phenomenon CryptoKitties, the world’s most successful blockchain game that accounts for 25 per cent 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.
“This specially-curated catalogue of crypto artwork and collectibles represents a major milestone for Codex as we continue to realize the true value of arts and collectibles,” Codex CEO Mark Lurie said. “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.”
Codex Consortium member and leading online marketplace for collectibles, antiques and fine art, LiveAuctioneers, will enable bidders to participate from anywhere in the world through its online platform. The full catalogue of pieces to be auctioned, including Cryptograffiti, Jessica Angel and Kevin Abosch, can be found on the Codex Protocol website, where interested parties can explore the catalogue ahead of the live event. Codex will also be providing a customized digital app for mobile bidding, which will be available for both iOS and Android devices.
“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 was created to share the potential of blockchain technology with a wider audience, especially as it relates to art and digital ownership,” its co-founder and CEO Roham Gharegozlou said. “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 arts & collectibles—and the potential it raises for art, artists, and art lovers alike.”
Arts 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 occur at 7:00 p.m. on May 12 at The Knockdown Center in Brooklyn, NY, and will be part of a broader sale of artworks hosted together with Rare Art Labs. As part of New York art auction season, Rare Art Labs will feature approximately 20 works from artists from all over the globe — from Nigeria to Beijing to New York.