COLLETRIX: AN IP PLATFORM WORTHY OF ALL ATTENTION

emmy92 (42)in #blockchain • 5 years ago

The rate at which technological advances are growing it's becoming amazing. Nowadays there are many things which can be developed with the aid of various technologies; technologies such as AI, Big Data, Machine learning, blockchain etc. Each of this technology is unique in its own way thereby contributing in a unique way to the affairs of the world. But out of all these technologies, there is something extraordinary about blockchain which makes it stand out and this is decentralization. Yes, decentralization is one of the features of blockchain which makes it a trending technology in the world today, with decentralization most platforms can offer a great level of security as well as privacy to its users; thus it is evident that this has not been seen in anywhere in the world. Also, blockchain made possible the advent of smart contracts which is used to ensure trust within any transaction, thus one of the reasons blockchain is attributed to being transparent and trustworthy.

In the same way, within the blockchain and as such cryptocurrencies there are distinctly two types of tokens which are known as ;
a. Non-fungible token (NFT) which are unique in nature and as such not interchangeable.
b. Fungible tokens which are also known as utility tokens.
Every blockchain platform uses these tokens for specific reasons where others might use one type or both types of the tokens to achieve different results and thus one of such blockchain platform with the aim of using both types of tokens to offer unique services in the world today is known as COLLETRIX.

KNOWING COLLETRIX

Colletrix is a project created by a team with adequate knowledge in various sectors, platforms and systems thus creating Colletrix to be a unique and high-value platform. To confirm this statement about Colletrix, the project is made up of a team from UNDONE, Animoca Brands, Future
Arena and Bitwork Accelerator with the aim of disrupting the IP (intellectual property) industry. Colletrix is most times called the PROJECT which is built to be the first in the world to use a non-fungible token or NFT to liken or correlate the IP industry of designs associated with physical merchandises.

Just like earlier stated, blockchain is disrupting systems thus with Colletrix leveraging blockchain, it will be able to combine IP and merchandises thus bringing a unique transformation where users will benefit through the use of an NFT which is a token under ERC-721 protocol as well as with Its platform's token that is the Colletrix token (CIPX) which is under ERC-20 protocol.

Furthermore, in order to ensure growth as well as serving users appropriately, Colletrix will be made up of;
a. Collectors: Where they will be exposed to new and unique collectibles as well as a full audit on an item’s historical ownership.
b. Merchandisers: This group of users within Colletrix will have the power to cross-collaborate with IP driven products as well as new sales channel and market. They will also have product authentication on blockchain thus ensuring security.
c. IP owners: These users will have IP NFT secondary market creation abilities at the same time having access to a lifetime license opportunity from NFT.
d. Crypto-enthusiasts: These are users who will be exposed as well as equipped to practical applications which will add value to them as well as the crypto space in the retail world. These users will also have access to market usage which is scalable thereby ensuring profitability.

Why Colletrix Is Worth It

Tokenization is one of the ways through which platforms based on blockchain gain value; it is also a way through which upcoming platforms can leverage on certain services within a blockchain platform in order to grow while scaling globally. Thus in the case of Colletrix, it will use blockchain technology thereby making tokenization possible in this way disrupting the IP ownership whereby security and value are added as well. Other users such as consumers, merchandisers etc will be provided with trust which will be associated with the authenticity of their purchased products.

In the same way, Colletrix aims to achieve its goal of creating an ecosystem where IP will be created as well as traded through using services and expertise from;
a. UNDONE: where the benefits of blockchain will be shown on merchandise products.
b. Animoca Brands: where technologies from a network of IP owners, blockchain and gamification will be Introduced for better results.
c. Future Arena: where sports and entertainment IPs of strong portfolios will be used.

Colletrix is worth it because as more IP owners get involved, more merchandise and NFT will be generated thus attracting more collectors and consumers which in the long run will add value to the Colletrix ecosystem.

CONCLUSION

The token of the platform is known as CIPX which is an ERC-20 utility token based on Ethereum blockchain used for IP tokenization, collection as well as trading in Colletrix ecosystem. CIPX gives holders the ability to participate in Colletrix IP ecosystem.