Codex and LiveAuctioneers have partnered to bring the world a crypto-theme art auction in Brooklyn, NYC @ 7pm on May 12, 2018.
NEW YORK – Codex, a cryptocurrency and decentralized title registry for the $2 trillion dollar arts & collectibles (A&C) asset class, has unveiled a distinguished catalog of crypto-theme artwork that will be made available at the live Codex Charity Art Auction at Ethereal Summit on May 12, 2018 in Brooklyn, New York.
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 percent 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.
Cryptokitties Co-founder and CEO Roham Ghaaregozlou said, “CryptoKitties was created to share the potential of blockchain technology with a wider audience, especially as it relates to art and digital ownership.
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 art and collectibles—and the potential it raises for art, artists, and art lovers alike.”
About the Artist:
Guilherme Twardowski, better known as Guile Gaspar, is a designer and visual artist from Brazil. Always fascinated by form and movement, Guile’s style navigates the boundaries between visual, interactive, and motion design. Guile has created static and moving images for a wide variety of projects and mediums for NGOs, startups, and world-class clients like Audemars Piguet, Audi, and British Airways. Now, as CryptoKitties’ Director of Art, Guile is the heart of the Kitties’ complex modular design and trademark personality. Guile animates viewers and products alike with delight-driven aesthetics, always seeking innovative ways to appeal to the senses.
Art 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.
Can you tell us a little bit about Codex and what you guys are looking to solve?
Codex is a decentralized title registry for the $2,000,000,000,000 art and collectibles asset class. It’s an asset class where the primary value driver is provenance, and by that, we mean the history of the item, who’s owned it, whether or not it is authentic, which institutions have handled it. All of these things which create the identity and the history of the object and hold its value. It’s also the key pain point in the ecosystem.
How does the Codex protocol work exactly?
We’re built on the Ethereum platform. We use non-fungible tokens, ERC721, as a kind of digital identifier, the identity of each item. To that, we can hash metadata, whether that’s images of the item, copies of receipts, transaction records, appraisal documentation. All of that is stored in a secure way so that it’s not visible. People can’t see the data about your items, but they are held in a way that is easily verifiable by people.
Codex is the leading decentralized title registry for the $2 trillion art & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative art, 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 more than 50 countries. To learn more about the Codex Protocol and Biddable, visit www.codexprotocol.com.
Founded in 2002, LiveAuctioneers digitally connects an audience of millions with the live-bidding action at almost 5,000 premier auction houses and galleries in 59 countries, providing a highly curated and trusted marketplace of unique items.
Privately owned and headquartered in New York City, LiveAuctioneers is the world’s preferred online source for fine and decorative art, antiques, jewelry and vintage collectibles.
A pioneer in mobile-bidding technology, LiveAuctioneers opened a new bidding pipeline in 2009 with its development of both an industry-leading app for iOS (Apple) devices and the first live-auction bidding app for Android.
What is CryptoKitties?
CryptoKitties is a game centered around breedable, collectible, and oh-so-adorable creatures we call CryptoKitties!
Each cat is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away, or destroyed.
CryptoKitties is one of the world’s first games to be built on blockchain technology—the same breakthrough that makes things like Bitcoin and Ethereum possible. Bitcoin and ether are cryptocurrencies but CryptoKitties are cryptocollectibles. You can buy, sell, or trade your CryptoKitty like it was a traditional collectible, secure in the knowledge that blockchain will track ownership securely.
Here’s what you need to get started playing CryptoKitties:
- A computer or laptop running the desktop version of Chrome or Firefox
- MetaMask, a digital wallet used specifically with web apps
- Ether, a form of digital payment that powers CryptoKitties
Go to the “Marketplace” and look at the CryptoKitties for sale, or breed two CryptoKitties together.
Your CryptoKitty’s profile page has two buttons near its name for selling and breeding.
CryptoKitties are NOT a cryptocurrency. They’re more like a cryptocollectible. The real-world analogy for a cryptocurrency is dollars or pounds; a cryptocollectible’s real world analogy is closer to assets like baseball cards or fine art.
As dictated by the smart contract, any CryptoKitty you own belongs to you.
Like any product or property you can own, the market price is determined by demand, scarcity, and your asking price.