Colletrix – Applying Blockchain Technology To Secure IP Originators

chudidonas (42)in #colletrix • 5 years ago

The protection of IP and authentication of merchandise collection is carried out by Colletrix through the use of Blockchain technology.

The IP originators experience loss whenever there is a transfer or sale of Intellectual Property. Even if a verification of collectibles has to be carried out, the consumers apply the ancient methods of verification.

However, artists acquire the know-how from Colletrix on conversion of Intellectual Property to digitally inclined assets. Beaded on this they won't find it difficult to maximize the protection of IP each time a token is bought or sold.

How Does It Work?

From the image below; the Colletrix project has a step by step procedure,

Step 1: the IP is created by the IP owners

Step 2: the IP is tokenized into NFT

Step 3: then the NFT is now paired with merchandise

Step 4: consumer buys merchandise and redeems NFT

Step 5: consumers can trade NFT while IP owner receives licensing fees

Step 6: finally, then collectors can collect different NFT for appreciation .

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CIPX and ERC-721: The Colletrix Token

In the cryptocurrency ecosystem, where Colletrix plays a major role on IP security, it has its customized token known as CIPX. The CIPX is used to buy unique edition of items that are crypto-exclusive. It is also used for exchange, purchasing of NFT priority and on payment platforms as well.
On the other hand, the ERC-721 protocol is used for NFT. This means that one NFT is equal to one unique IP. The ERC-721 token is actually very well seen on one of the global largest Blockchain, known as Ethereum.

Colletrix Support Partners

The project gained much support from talented and dedicated teams. The team efforts of Animoca Brands, UNDONE, Bitwork Acceletator and Future Arena, are very much significant in the Colletrix Project. The four teams have various contributive functions towards the project.

UNDONE creates and brings into play trade expertise to showcase the numerous benefits of Blockchain technology for merchandise.
Animoca Brands brings on board a vast network of IP originators, Blockchain and gamification technologies.
Future Arena will make use of strong IP sport and other portfolio of entertainment to invent a kind of IP creation ecosystem, dynamic and physical trade through the medium of Blockchain technology.
Bitwork Accelerator by its devotion, makes provision for panaceas and speed of Blockchain business at the enterprise level. It helps to dictate lapses in existing economic models. It also looks out for other viable Opportunities and use the Blockchain technology to create new economic models.

Colletrix Working Team

The aim of this project is strongly propelled towards success by two categories of teams workers; the project team workers and the advisory team workers. To name a few , the project team include;

Robert Tran(chairman, CEO and co-founder), George Jiang(Managing Director & Co-founder), Michael Young (Chief Merchandising Officer & Co-founder), while the advisory team include; Bryan Wu, Henry Yu, Gin Takashi Mizuoka.

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