Codex and Tagsmart Announce a New Partnership for Trusted Art
Codex and Tagsmart’s partnership will create a new layer of trust in the art market by combining their blockchain and DNA tagging/Certificate technologies
Tagsmart Connect enables artists, galleries, estates and auction houses to submit trusted artwork data directly to online retailers. By adding Codex, within the same service and with a single click, they will also be able to submit that information directly to the Codex blockchain, a global immutable registry for valuable collectibles.
Tom Toumazis MBE, Tagsmart Executive Chairman says: “Tagsmart is delighted to partner with Codex, using their innovative Codex Protocol, as the first blockchain partner for our new Connect service. We all recognise the vital importance of building trust in the art market and ensuring that provenance records are consistent and auditable across the digital and physical domains.”
Artwork owners will then be able to generate a blockchain-enabled Tagsmart Certificate of Authenticity, which collectors can use to access additional verification data from the Codex platform. Collectors will also be able to carry out verification processes remotely, providing an important accelerator for online sales of trusted art.
Jess Houlgrave, Co-Founder and COO of Codex says: “Our company is all about maintaining data integrity and trust in the art market. Verifiable provenance is key to the value and appreciation of any work of art. We are delighted to be working with Tagsmart to combine the authority of our blockchain solution with their leading Certification and Tagging technology.”
In an effort to increase trust and transparency in the art market, both parties will cross-promote each others’ services and the way in which their respective technologies each work to enhance the values of unique assets for collectors.
Codex is establishing the world’s best record of provenance for the $2 trillion arts & collectibles (“A&C”) ecosystem. The Codex platform provides an immutable blockchain registry for 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 has launched two initial decentralized apps (beta), Biddable, providing access to unique assets for crypto-holders, and Codex Viewer, to create and manage blockchain identities for your unique assets. 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.
Tagsmart is a British technology company, formally launched in April 2016. The company pioneered the application of DNA tags to authenticate artworks and is now the go-to provider of tagging and certification services in the fine art market. It was the only such business highlighted in the 2017 Deloitte Art and Finance Report. Tagsmart already has over 25,000 artworks on its platform and has tagged and certificated more than 11,000 works.
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Sophie Noire|Communications and Outreach|+44(0)7477294042 email@example.com for Tagsmart enquiries.