Proceeds for exclusive arts & collectibles will go to the Foundation for Arts & Blockchain
San Francisco, CA, May 14, 2018 — Codex, a cryptocurrency and decentralized registry for unique assets focused on the $2 trillion dollar arts & collectibles (A&C) asset class, is pleased to announce that items sold at the Live Codex Charity Art Auction at Ethereal Summit in New York City raised $192,350 USD on May 12, 2018. Most notably, the Celestial Cyber Dimension Cryptokitty was sold for a record $140,000 USD (approximately 203.41 ETH). The exclusive Cryptokitty was custom made by CryptoKitties’ Director of Art, Guilherme Twardowski, and features a physical manifestation of the digital art by implanting the cat’s private key in a physical statuette. Proceeds from the auction will go to the Foundation for Arts & Blockchain, which was established to support artists creating blockchain-inspired works, as well as artists using blockchain to distribute their works to an expanding global audience.
Codex CEO Mark Lurie said, “Codex is both delighted and humbled by the results of the live charity auction at Ethereal Summit. The outpouring of support from attendees has reaffirmed that we can use blockchain technology to unlock the value of art and collectibles. When we founded Codex, cryptowealthy investors had few avenues to access this lucrative asset class. Now, thanks to the hard work and determination of our dedicated team and the support of our industry consortium , we are proud to say that Codex is no longer just a concept, it’s a tried and tested reality. Through our live auction at Ethereal Summit, we have proven that the cryptowealthy want to invest in and collect art & collectibles and that the Codex platform can unlock value for collectors, intermediaries, and artisans alike.”
The success of the live auction at Ethereal Summit showcases the tremendous potential of the Codex protocol to inspire and encourage the arts & collectibles community to seek verifiable provenance and authenticity from an increasingly opaque system. With a variety of new partnerships to the Codex Consortium, Codex aims to provide users of varying roles and responsibilities within the industry with the tools necessary to participate in the market with greater security and transparency. Recent additions to the Codex application ecosystem application ecosystem include decentralized art gallery Maecenas, leading art directory The Clarion List, art appraisal company ValueMyStuff, asset-backed lender Luxury Asset Capital, and Dust Identity, which uses innovative unclonable technology to securely link physical items to digital records.
Jess Houlgrave, Codex co-founder & COO, said, “The Codex team was thrilled to be able to bring together an exciting group of artists to our live charity auction. The pieces straddled the realms between the digital and the physical, and were truly unique in the space. At Ethereal Summit, we were also able to announce the first project to receive support from the Foundation for Arts & Blockchain. The foundation will be sponsoring #ArtProject — lead by Jessica Angel to create a physical display of the TrueBit software bridge. The exhibition will travel to different cities across North America and the donation will help commission the artists and performance pieces featured inside the bridge.”
The live auction also featured artworks from renowned blockchain-artists Jessica Angel, Kevin Abosch, and Yiying Lu, whose print of the iconic “Lifting A Dreamer,” better known as the “Twitter Fail Whale,” was auctioned for $12,000 USD. The arts & collectibles sold were some of the first to be written onto the Codex blockchain. Buyers at the auction received a Codex title, which provided them with an accurate and immutable ledger of the product’s value based on its verifiable authenticity.
Hosted by ConsenSys, the annual Ethereal Summit highlighteds substantive sessions featuring notable entrepreneurs, investors, and government officials discussing the future of blockchain and its mainstream applications for cultural projects. The live Codex Charity Art Auction at Ethereal Summit was part of a broader sale of artworks hosted together with Rare Art Labs.
About Codex
Codex is the leading decentralized title 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 BidDex 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 BidDex 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.
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This week news.bitcoin.com spoke with the team behind a new trading platform called Dex.top — a decentralized exchange built using a smart contract. According to the Dex.top developers the exchange has no access to a user’s private key and assets are never held on the Dex. This means, much like the cryptocurrency wallets out there that allow individuals full control over their private keys, Dex does the same as it acts a non-custodial trading platform.
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A New Bitmain-Incubated Cryptocurrency Exchange Dex.top Utilizes a Smart Contract to Facilitate Decentralized Trades
The Switzerland-based exchange, is an decentralized trading platform incubated by the well-known blockchain firm Bitmain Technologies. Unlike traditional cryptocurrency exchanges, Dex.top is built from a smart contract that is compatible with both the Ethereum and RSK networks. The organization claims that all assets are kept within a smart contract and are never held by the exchange. Dex.top says that users maintain full control over their assets and transactions are always signed by the users themselves.
“Technically users do not need to trust Dex.top, as Dex.top neither has a user’s asset nor does it have the authority to transfer the user’s asset. Lastly, our platform utilizes Raft’s algorithm to ensure our system’s security and usability,” explains the Dex development team.
It initially creates ROC (Replayed-On-Chain) trading mechanism, which supports off-chain and on-chain of two ledgers that secure assets and instant trading.
Dex.top and Metamask
The exchange explains that as it builds on the ERC-20 framework, in the future developers hope to add other public blockchains into the mix such as RSK, BCH, and EOS. This week was granted access to look at the exchange via the trading platform’s trial period. Dex.top representative, Yixuan Lin, tells us the trading platform’s public launch will begin around the end of May. While giving the platform a tour we noticed that users utilize as their wallet which gives the exchange fluid transfers with ETH or ERC-20 tokens. Users simply tether their Dex account to the Metamask wallet and when you sign to deposit or withdraw tokens users confirm via the Metamask UI. The Dex team in the future it will also be collaborating with other wallets like Imtoken, Bitcome, and the hardware wallet Ledger. At the moment due to the pre-trial period, the Dex.top platform has very little volume and users at the moment.
The Dex.top user interface.
The Dex.top Team Plans to Integrate an ERC-721 Marketplace and Collaborate with Other Decentralized Platforms
Additionally, the Dex.top team says it hopes it can also work with other prominent decentralized exchange platforms like Kyber, IDEX, and DDEX. Alongside this, the project will also be implementing ERC-721 protocol compatibility and a marketplace for these types of tokens. Yixuan Lin explains to news.bitcoin.com that the Dex.top team members are based in Switzerland, the United States, Singapore, and Hong Kong and all of them are huge fans of decentralized concepts. For now, users can register on the platform and check it out, while the Dex.top team emphasizes that they look forward to greeting the cryptocurrency community at the end of this month with its new exchange.
What do you think about the Dex.top platform and concept? Let us know your thoughts in the comments below.
Images via Shutterstock, Pixabay, and Dex.top
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