Introduction
It is an inherent trait of man to continually strive to attain a better quality of life, until he achieves a state of moral decadence. It is in light of this, that the digital dispensation we now enjoy came into existence. Today, many inventions and products which has made life relatively easier would have been termed non feasible many years ago, likewise possible future inventions, now.
Intellectual property (IP) is that catalyst which has ignited the evolution from stone age to a technological one, through the creations of the human intellect. In order to facilitate the gradual development of our dispensation, it is beyond necessary to promote and reward IP owners and their merchandise.
Unfortunately, the current market is oppositely structured . Counterfeit products have swarmed our markets in huge numbers, thus accounting for half a trillion dollars in market revenue, thereby making it difficult for IP owners to make profits off their own ideas.
In Britain alone, about €90m is spent annually on counterfeit goods, according to Trading Standards Institute. For a moment, imagine the figures at global scale. The lack of value for IP owners and their products is further pronounced by their inability to fully license their merchandise.
The impact of these bottlenecks are very damaging, to say the least. Asides from lost brand equity, loss of reputation and trust with customers and business partners, IP owners are forced to spend their little revenue on fighting this menace. In summary, the current IP and merchandise industry is structured in a way that disfavours new and existing participants. Thankfully, the time for a change is upon us .
The Colletrix Solution
Colletrix is a blockchain based platform designed to arrest the shortcomings of the industry by presenting viable solutions to current tailbacks, in a bid to spurn the industry to unimaginable heights. The Colletrix ecosystem is built on tokenisation,an idea which all industry participants can fairly benefit from.
On Colletrix, every IP owner and their products will have their unique NFT (Non fungible tokens) associated to them. The introduction of NFTs to the current market is one of the core features of Colletrix, and is poised to kick-start an era where IP owners can get properly compensated for their efforts. IP owners on Colletrix will earn a fixed percentage of the returns of NFT trade price. The fact that their income is a function of their NFT trade price will lead to a highly competitive market, as IP owners will strive to achieve product development, so as to increase demand for their NFT.
The immutable feature of the distributed ledger technology will serve as bedrock for the efficient storage of historical ownership records of merchandise, thereby making it relatively easier for collectors to work with collectibles.
By harnessing blockchain technology, product counterfeiting will eventually become a thing of the past, thanks to Colletrix. The idea to put an authenticity verification system in place for merchandises is one Colletrix ranks as top priority, and aims to achieve in the nearest future.
Colletrix's ecosystem is fueled by the ERC-20 compliant CIPX tokens, which is the native utility token used for transactions within the ecosystem. The CIPX token holders reserve the right to make decisions in the best interest of the community, and are the frontrunners, set to benefit immensely from the platform's development.
Conclusion
The blockchain technology has initiated the growth process of many aspects of human lives, and the IP industry looks set to join an already bulging portfolio of industries.
Colletrix correctly asserts that tokenisation is the missing link in the current market, and strives to revolutionise it, by leveraging the distributed ledger technology.
For more details about this project, click on the link below
Website: https://www.colletrix.com/
Twitter: https://twitter.com/colletrix
Facebook: https://www.facebook.com/colletrix.io/
Telegram: https://t.me/colletrix
LinkedIn: https://www.linkedin.com/company/colletrix
Author: Adaora
Bitcointalk username: Adaora2323
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2011741;sa=summary
