COLLETRIX: LINKING THE OLD AND NEW BUSINESS MODELS IN THE INTELLECT...

Introduction
Cryptocurrencies started gaining momentum in the business world in the last few years and since then, the market for in-game collectibles popularly referred to as NFTs has been blossoming. There are strong indications that NFTs come pre-included with high-end applications that will make the merchandise industry an interesting place.
While it is true that the NFTs has largely been successful enough, there are few notable errors which call for instant rectification so as to foster its acceptance rate and as well appeal to investors to come into the IP industry.

COLLETRIX INFRASTRUCTURE

Colletrix platform is a blockchain-based network and of course, the very first project developed to address the challenges faced by the IP owners as well as the merchandisers too. Colletrix seeks to assist IP owners by granting and bringing blockchain technology into the merchandise industry such that they can enjoy their license for a long time and maximize productivity without jettisoning efficiency of their productivity.
The merchandisers equally offer better services for their end-users and collectors too can have the best of feel. It seeks to build an entirely new ecosystem by marrying the traditional economic model of Intellectual Property (IP), making it a smart economy based on blockchain technology.

One of the fundamental flaws of the IP industry is the recession value and income raised from the licenses issued to the original owners of the IP. In order to resolve this particular challenge, Colletrix uses the blockchain technology to bring tokenization into IP market and the design of physical merchandises. Through the use of NFT tokens, inventors of specialized products can match their licenses with the tokens and issue the franchise directly to the merchandisers.

Colletrix Project also features a superb business model that offers bright prospects for the duo of the merchandisers and IP creators in the merchandise market. For the IP owners, the NFT token is a specialized cryptocurrency made specially for the IP owners such that they can have a particular fair and constant revenue stream as profit over their intellectual property created.

The NFT token is the local currency on the Colletrix platform based on ERC-721 protocol and it is used to offer a transparent digital asset to be employed in developing gaming as well as other collectibles with various functionalities which have been given to features such as Undone, Animoca, Future Arena as well as Bitworks. In addition, one good part of this is that, although the gaming assets will be developed by Animoca, how it would be used will solely be the prerogative of the end-users and not the developers or Colletrix network owners. Eventually, the end-user is left in the driver’s seat and has the absolute authority on regulating what happens on the platform. This is one of the key improvements that blockchain technology is bringing to the IP industry.

CONCLUSION

Colletrix leverages on the blockchain technology to assist the Intellectual Property (IP) owners and ascertain the genuineness of the products that the merchandise are purchasing. When licenses of IP owners are merchandised, IP creators do lose humongous part of their revenues as end-users will still need to confirm their collectibles using the conventional means.

Colletrix offers the opportunity for the IP creators to better secure their Intellectual Property such that they only approve trade of their products via a specialized token in a digital asset. The end-users too get to trust the system the more as they confirm that their collectibles are genuine. For the merchandisers, Colletrix platform presents a better and wider business opportunity by closing ranks with the IP owners.