San Francisco, CA, February 28, 2018 — Codex, a pioneering cryptocurrency and decentralized title registry for the arts and collectibles (A&C) market, announced today it has secured a $5 million USD investment from Pantera Capital, a prominent investment firm focused on blockchain technologies. This funding, combined with previous investments, will support the development of Codex’s protocol and assist participants in creating applications on its platform. Joey Krug, Co-Chief Investment Officer at Pantera Capital, will also join Codex as an advisor, bringing his blockchain expertise and strategic insights to the table.
Mark Lurie, CEO of Codex, expressed his enthusiasm, stating, “We are thrilled to have strategic support and financial backing from Joey and Pantera Capital, a leading name in the blockchain sector. Their deep blockchain expertise will be crucial as we work with the Codex Consortium to implement provenance on the blockchain, establishing a reliable title registry for the arts and collectibles market. Our technology allows art collectors to verify ownership securely without compromising privacy, leading to a more equitable and expanded market for all involved.”
Pantera Capital, the first U.S. investment firm focused solely on cryptocurrencies and blockchain technology, is known for its deep roots in both traditional finance and emerging blockchain technology, as well as its strategic partnerships with promising projects and entrepreneurs in the sector. Krug’s advisory role at Codex is expected to add significant value to the project as it strategizes its market launch.
Joey Krug commented on the investment, “We are excited to include Codex in our portfolio. As blockchain and digital currencies become more entrenched in the global economy, Pantera aims to facilitate widespread blockchain adoption and innovation. We are confident in Codex’s vision and its potential to fundamentally change how transactions are conducted in the fine arts and collectibles market. Additionally, the influx of crypto-rich investors seeking to diversify their portfolios makes Codex an ideal platform for them to invest in the arts and collectibles sector.”
In related news, blockchain experts Abe Othman from Augur, Nader Al-Naji from Basecoin, and communications specialist David Wachsman have joined Codex’s Board of Advisors. Othman will focus on blockchain technology and incentive systems, Al-Naji will provide insights into crypto macroeconomics, and Wachsman will oversee the company’s communications strategy.
The Codex Consortium, consisting of collectors, auctioneers, dealers, museums, and other approved entities, has warmly received the Codex Protocol and its first application, Biddable. This application allows cryptocurrency holders to participate in auctions confidentially and securely through a title-escrow system. From its inception, the Consortium will adopt the protocol and accept cryptocurrencies, broadening access and enhancing privacy for all bidders. The open-source nature of the Codex Protocol also allows other players in the A&C ecosystem, such as art insurers and logistics providers, to develop applications and leverage the title system.
For more information, please visit the Codex Protocol website at https://codexprotocol.com/.
About Codex
Codex is the foremost decentralized title registry for the arts & collectibles ecosystem, encompassing a wide array of items including art, fine wine, classic cars, antiques, and more. Through the Codex Protocol and its token, the platform facilitates open source development, allowing third-party applications to integrate and expand the usability of the title system. Codex’s primary application, Biddable, addresses major issues in A&C auctions like non-performing bidders and access barriers, enhancing transaction security and bidder privacy. To learn more, visit www.codexprotocol.com.