A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, "Project Colletrix" introduces one of the world’s first nonfungible tokens (the “NFT”) that is aimed to be associated with the intellectual property (“IP”) of designs of physical merchandises.
"Blockchain technology is claimed to be and perceived as one of the revolutionary technologies that will have an enormous impact on our lives in the forthcoming years and decades. The legal questions surrounding blockchain appear to be among the most controversial issues surrounding this novel technology, which create uncertainties as to the scope and speed of its eventual adoption.
The technological advancements offered by blockchain promise wide ranges of use in a variety of sectors and legal areas, including intellectual property (IP) law. This article will focus secondarily on the possible opportunities that blockchain may offer with respect to the future of intellectual property (IP) and discuss its potential impact on the registration, management and enforcement of intellectual property rights."
With that being said, Colletrix aims to revolutionize the ownership of IP by introducing protection and perpetual value for IP owners through tokenization, while providing merchandisers and consumers with trust in the authenticity of their purchased products.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is COLLETRIX?
As depicted above and as indicated on the official whitepaper of Colletrix, Colletrix is the blockchain project to unify the elements of IP, blockchain and merchandise to create new market value powered by the world-leading smart contract system, Ethereum.
In addition, Colletrix is backed by a talented team from UNDONE, Animoca Brands, Future Arena and Bitwork Accelerator. UNDONE will bring its merchandising expertise to showcase the benefits of blockchain technology for merchandise products, Animoca Brands will introduce its vast network of IP owners and blockchain and gamification technologies, while Future Arena will leverage its strong portfolio of of sports and entertainment IPs – all to create a vibrant ecosystem of IP creation, trading and physical merchandising using blockchain technology.
Established in 2014, UNDONE is the world’s leading custom watch label founded by a team of dedicated watch industry veterans. With years of expertise in luxury watch customization, UNDONE has fully mastered the art of customizing unique watches with their own design, as well as creating watches unique to their customers. Having built a sturdy and reliable foundation in the watch industry, UNDONE is ready to bring the whole industry into a new era with the cutting-cutting-edge enhancement of blockchain technology.
Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands is the exclusive China distributor of CryptoKitties. The Company is based in Hong Kong, Canada, Finland, and Argentina.
Future Arena is a digital pioneer in sports IP development and commercialization, cultivating sports IP fanbases and bridging sports brands with their IP partners’ large Chinese fanbase. Their goals are developing IP, creating business models and sharing profit together with the IP owners, including the UEFA Champion League, La Liga, Manchester City, AC Milan, Real Madrid, Schalke 04, Filippo Inzaghi, Claudio Marchisio, Graziano Pelle and more.
Future Arena is also the exclusive partner in Asia with Wyscout, the world’s biggest digital football video data scouting platform, helping Asian professional football leagues, clubs and academies on improving team performance and scouting efficiency.
Bitwork Accelerator is a program for blockchain companies of all stages and helps to match all kinds of specific resources in the private and public sectors. It devotes itself to providing corporate level blockchain business solutions and acceleration. Bitwork Accelerator will be focusing on every angle to help industries locate the shortfalls in the conventional economic model, seek new opportunities and create new economic models with blockchain technology.
How it works?
Colletrix uses blockchain technology to protect intellectual property (IP) creators and verify the authenticity of merchandise collectibles.
Original IP creators typically lose out when their IP gets transferred or sold. Consumers still need to verify collectibles they buy using archaic methods.
Colletrix grants artists the power to tokenize their IP into a digital asset, allowing them to better protect their IP each time the token is traded. Consumers can verify the authenticity of their collectibles via token information stored on the blockchain.
Get their work tokenized as a digital asset, and protected on the blockchain. They can trace each sale of their IP token and earn licensing fees from each sale for perpetuity.
Verify that their collectible is real, and support their artists via trading of their tokens on the Colletrix Marketplace.
The ability to create more business opportunities through working closely with IP owners. Merchandisers can also draw in more customers from the artist and crypto-gaming communities.
About The CIPX Tokenomics
Colletrix will be issuing its very own ecosystem ERC-20 token, the Colletrix Token (“CIPX”). Uses include:
Crypto-exclusive special edition merchandise purchasing
NFT priority purchasing
Colletrix uses the ERC-721 protocol for its non-fungible token (NFT). Each NFT represents a unique IP. The ERC-721 tokens are visible on the Ethereum blockchain, one of the largest public chains in the world.
Blockchain is a cryptographic tech solution with low costs, high security, decentralization and no trust involved. With NFT information and transfer records immutable and transparent on the blockchain, everyone can freely track data and rest assured knowing they are untampered with.
Ethereum Smart Contract
The Ethereum blockchain enables smart contracts, which can store important information about a digital asset as well as allow automatic executions based on if-then conditions coded into the contract. With smart contracts, we can set limits on the number of times an IP NFT can be made into merchandise, and also ensure that original IP owners get a licensing fee from each NFT trade.
Colletrix will issue its own ecosystem token, Colletrix Token (CIPX). CIPX is a cryptocurrency that is supported by the Ethereum network with the ERC-20 standard. Therefore, all records related to CIPX can be seen using the Ethereum browser.
Name Token: Colletrix
Token Sale Details
Initial exchange offer
June 2019 Beta platform and merchandise launch (UNDONE watch related to NFT, IP tokenization)
First IP x NFT Marketplace Merchandise Development
More UNDONE merchandise plus NFT collections
Q4 2019 - Q1 2020
Gamification element to provide incentives for the NFT collection
Open a platform for the manufacture of pure IP (decoupling merchandise
from creating IP, leading to more IPs that are made and tokenized)
- Apply IP merchandising to other products - users must spend CIPX to make NFT with their merchandise
Meet The Amazing Team
Chairman & CEO
Co-founder of UNDONE and iClick Interac-tive. Part-time superhero.
Chief Merchandising Officer
CEO and co-founder of UNDONE. Luxury watch expert, repairman and customizer, specializing in Rolex watches. AKA the watch guy.
Fintech product lead with experience in digital payments and P2P lending in China.Wanna-be economist with dream to visit Mars.
Chief Marketing Officer
CTO of UNDONE. Previously head of Windows and Surface business groups at Mecrosoft. Spent the last 25 years in high tech. Old timer.
Tech entrepreneur and in-house white hat hacker. Distributed content expert with 10 years experience in social media and EC. The prodigy.
Animoca Brands CEO
Gin Takashi Mizuoka
Chief Digital Officer of UNDONE
Digital Strategy Advisor
Future Arena CEO
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.