Using Codex: a step by step guide from start to finish

From buying a work to selling it and everything in between, we’re showing you how to use Codex to secure your valuable collectible

Codex
Codex
Sep 26, 2019 · 6 min read

We’re taking a step by step look at how to use Codex Protocol to create a Digital Provenance Certificate called a Codex Record. We will follow a painting through purchase and registration on Codex, to appraisal, sale and onwards, using the real life example of white paper (Iota 2),by Andy Boot, purchased by a private collector and registered on Codex.

Step 1: Securing provenance documentation after purchasing an item

Whitepaper (Iota 2) was purchased by a private collector at the Ethereal Auction.

Step 2: Sign in to Codex

  • Sign up here
  • Learn about the different kinds of Codex Accounts here

Step 3: Create a Codex Record for the item

  1. To create the Codex Record Codex Record, sign in to your account and click the “add new asset” button under the “My Collection” tab.

2. Fill in the metadata fields with the description of the item, adding any receipts or documentation to the “additional files”. More on that later.

3. Check out the guide for creating Codex Records here

Step 4: Get the artwork tagged

Order your tag of choice from our partner and apply it to the back of an item.

Upload the certificate of your tag to the Codex Record under “additional files” section.

Step 5: Get the artwork appraised

Easily get a professional appraisal report online through ValueMyStuff.com. Upload a photo of the item and all supporting provenance information (which is already conveniently stored in your Codex Record).

Once you have received an appraisal report via email in the form of a .pdf, upload the document to the Codex Record under “additional files” in the provenance section.

Step 6: Get a Codex Record Certificate of Authenticity

Keep the certificate with you and upload the .pdf to “additional files” in the Record.

Step 7: Keep Your Record up to Date

All modifications of a Record are recorded on the blockchain, so future owners of the item and Codex Record will be able to view the history of changes. Read this article for a comprehensive breakdown of how changes are tracked on the blockchain.

Step 8: Sell the item

When viewing the Record, hit “transfer” and enter the new owner’s email address or blockchain wallet address into the pop-up box.

The recipient will receive an email notification to claim the Record and voilà, the Record is now theirs.

With the comprehensive provenance that has been created for the item, proving the item’s authenticity is frictionless and valuation is indisputable. The seller gets the highest price for their work and the buyer is confident they are purchasing an authentic item.

Step 8, pt 2: Selling the item (digital art)

Have specific questions on anything you’ve just read? Feel free to reach out and ask us on Twitter, Telegram, LinkedIn, Facebook or Instagram!

About Codex

Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex Protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy and bidder access. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.

To learn more about Codex initiatives, visit our white paper. To inquire about partnerships and developing dApps using the Codex Protocol, please contact us via Telegram or Twitter

CodexProtocol

Codex Protocol is a decentralized registry for unique…

CodexProtocol

Codex Protocol is a decentralized registry for unique assets, beginning with the $2 Trillion Art & Collectibles asset class. Supported by a large industry consortium, The Codex stores ownership and provenance while ensuring privacy for collectors.

Codex

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Codex

Codex is the leading decentralized registry for the $2 trillion arts & collectibles ("A&C") ecosystem. Our Publication: https://medium.com/codexprotocol/latest

CodexProtocol

Codex Protocol is a decentralized registry for unique assets, beginning with the $2 Trillion Art & Collectibles asset class. Supported by a large industry consortium, The Codex stores ownership and provenance while ensuring privacy for collectors.