Bluethumb, Australia’s largest art marketplace, has announced a new partnership with Codex Protocol, a decentralized registry for the $2 trillion arts & collectibles (A&C) asset class that brings provenance information onto the blockchain.
By creating Codex Records for unique assets sold in the Bluethumb marketplace, artists and collectors alike will benefit by having critical information accessible with privacy, security, and ease. Codex Records with a Bluethumb origin, a highly reputable source, will have a verified history for the piece that will provide any future buyer with a high degree of confidence in the artwork’s authenticity and value.
“Bluethumb is the leading Australian marketplace, and partnerships like ours serve to accelerate adoption of blockchain technologies among savvy buyers of art and collectibles. Storing important provenance information in the Codex decentralized registry ensures that the identity chain of the piece remains unbroken and provable. We welcome Bluethumb’s prestigious community to the Codex Protocol ecosystem.”
Original paintings, drawings, and limited edition prints are available on the Bluethumb marketplace to buy directly from artists’ studios using Bluethumb’s award-winning website and app, beautifully designed and curated to make it easy to find unique items.
It has been a founding principle of Bluethumb to make it easier to be an artist and to treat the artists who sell on their platform as family while helping their careers grow. This commitment to the artist has contributed to their success, and with this in mind, the adoption of the Codex Protocol will serve to further their mission by empowering artists toward a future where new possibilities for their works can exist in the market, such as fractional ownership and royalties enabled by smart contracts. As the Codex asset registry grows, the arts and collectibles industry will be able to buy, sell, securitize, insure, and lend against the asset class with ease.
“We are proud to join Codex in providing Codex Records to prove the origin and authenticity of items sold in our marketplace and look forward to the potential the technology has for empowering artists. Many Australians work as artists, including more than 13,000 in remote, indigenous communities where art is an important lifeblood. With Codex, we look forward to extending our global reach for works like these, which have extraordinary histories that should not be forgotten. With the benefits of blockchain including unbroken provenance and opportunities for royalties, we are eager to see this technology work for the people who stand to benefit most, the communities of artists we are working with like the Indigenous Art Centers and the diverse group of artists Bluethumb represents.”