Sophisticated investors have looked toward the Arts & Collectibles asset class for centuries to create strong portfolios with investments that have a low relative correlation. While investing in art, jewelry, cars, and fine wine is nothing new, as with many industries, the adoption of blockchain has created a wealth of opportunities for the A&C market.
Codex Protocol, a decentralized registry for unique assets, has partnered with Maecenas, a blockchain-based art marketplace, to offer registration of artworks and liens sold by Maecenas on the Codex Asset Registry. Additionally, the partnership will give Codex Record holders access to Maecenas’ fractional ownership platform.
“Codex Protocol is built for collaboration and partnership across the arts & collectibles market. We are thrilled to have partnered with Maecenas, the art finance and open blockchain platform that democratizes access to fine art by fractionalizing and securitizing artwork without the high minimum cost and low liquidity that had previously hindered the dream of owning a Monet,” said Mark Lurie, CEO of Codex Protocol
By holding a Codex Record for an asset, those with fine art and collectibles investments create provenance for their pieces as interactions with the respective virtual titles occur. The Codex Record is represented by a Token (ERC-721) that can be used by anyone while maintaining privacy. The Record now retains a natural, immutable and distributed nature, and provides definitive provenance.
Think about how many interactions occur with title registries, then multiply this exponentially with Codex Record virtual tokens as the trusted title. Interactions could include insurance, asset-backed lending, artist royalties, inventory tracking, appraisals, museum interactions, the list goes on. Now imagine a group of global savvy investors fractionally owns the piece.
The Maecenas platform allows fractional ownership of artworks, making it possible to own a piece of a Picasso by way of blockchain for tamper-proof verifiable provenance and real-time digital settlement of transactions. Investors create and manage their own liquid fine art portfolios, and through the platform, art galleries and art collectors can raise cash against their existing artworks.
With the Codex Record acting as an anchor for the artwork in the global online marketplace, the Codex and Maecenas partnership offers remarkable opportunities for those who appreciate the benefits A&C investments provide, and those who are looking for new, creative ways to invest.
About Maecenas Fine Art
Maecenas Fine Art is the world’s first blockchain platform for investing in fine art. Its online marketplace enables investors to buy shares in multimillion dollar masterpieces for the first time, just like they would a Fortune 500 company. Using blockchain technology, artworks are tokenized, breaking them down into smaller financial units which can then be traded on the online platform. https://www.maecenas.co/
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 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’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 CoDex 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. To learn more about the Codex Protocol and Biddable, please visit www.codexprotocol.com.
by: Adrienne Burke-Moran, Codex
Nothing herein constitutes an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which it is unlawful to make such an offer or solicitation. Neither the U.S. Securities and Exchange Commission nor any other federal, state, or foreign regulatory authority has approved an investment in the matters contemplated herein.