If you have ever given a thought about the art and collectible market around the world, the first thing you’ll notice it’s how diverse it actually is. There are a lot of items that are considered collectibles around the world, some of them are simple objects that evoke simpler times, and the nostalgia factor plays a big role in giving it value.
Other objects collectibles are valued simply because of the name attached to them, be it from an artist, a brand or a manufacturer. Almost everything you can think of can be labeled a collectible by the right people. From art to wine, antiques, jewels, coins, vintage comic books, toys. You name it, and someone has some sort of interest on it.
An Estimation of the Collector’s Market vs. A Reality
The team behind Codex Protocol has been working hard since they started a project to gather the art and collectible market under a single roof where specialists, hardcore collectors, and enthusiast can get together and make direct deals without the need of third parties and deal their assets using crypto currencies.
Codex perceives the current state of the market as a dynamic playfield where at least 1.6 trillion dollars are traded each year. The numbers are poised to get better as times go by with the increasing value and scarcity of modern collectibles and the number of items making the rounds that are considered instant classics. By 2026 the trade numbers will be placed around $2.7 billion worldwide.
The Shape of a Big Idea
Many collectors know the value of their items, but a lot them has to deal with struggles you can’t even begin to imagine. Picture for a moment what happens in TV shows like “Pawn Shop” but on more realistic settings. You think you have something valuable on your hands, but someone else will always be there to tell you that it’s actually worthless.
Trusting a third party is complicated especially if you dealing with a legacy piece related to your family history or something along that line. The Codex Protocol solves most of these problems by allowing users to build an open registry where collectibles can be listed, verified and a price can be set on them. The market’s behavior will determine the true worth of it.
Additional Functionalities for the Codex Protocol
Codex is also being built to offer a wide range of services either to buyers or sellers of collectibles. Insurance companies can get involved in the ecosystem to offer their services, sellers will be able to offer the custom-programmed platform to auction their assets before a targeted audience, and crowd funding methods can be applied to create new collectibles that satisfy the needs of a specific market waiting for a new type of product.
The Blockchain will prevent any sort of fraud by creating a chain registry of ownership on every collectible dealt on the platform as well as the backstory related to the financial deals made with it.
If you wish to learn more about the Codex Protocol and the advantages of working with a platform such as this you can visit https://codexprotocol.com/