Introduction
In the last few years, the merchandise industry has been beset with a lot of challenges which stand as cogs in the wheel of her progress. The inability of the industry to keep up with emerging technologies is one of such problems that calls for concern. Take for example, the blockchain technology which offers transparency and efficiency to Intellectual Property (IP) market, is yet to be fully incorporated into the merchandise industry.
Besides, the IP market which is a major arm of the merchandise industry, presently suffers from an inefficient business models that lowers the revenue for both the owners of the IP themselves as well as the merchandise to whom the license is sold. This cause a great loss to the IP owners as their income are not guaranteed and it is scarce.
Again, because the merchandise industry usually deal with luxury products whose production is often limited, genuineness is a thing that end-users do not want to compromise. One serious problem that threatens the merchandise industry here is that of counterfeiting. Because of the absence of an innovative technology to check the influx of fake products to the market, the income accruing to the original IP owners are substantially reduced since they have to share revenue with the producers of counterfeit products. All these anomalies are what Colletrix project is out to correct.
How Exactly Does Colletrix Plans To Resolve These Issues?
Colletrix project has come up with a blockchain-based platform where the IP industry can be tokenized such that IP owners can get licenses that last long for their products and by so doing, earn greater revenue. For the merchandisers, Colletrix project is incorporating blockchain technology into the IP market such that customers can get to trust their products the more. This will translate to greater investment and open doors for more business opportunities for them.
As opposed to what obtains before, merchandisers can now obtain franchise for the products they purchase from the IP owners as they are issued with private keys to their purchase. This is a unique feature of Colletrix platform, called the NFT. It is the NFT that forms the basis of tokenization of the IP industry such that merchandisers have unique and digitalized assets traceable to the IP of luxury product they are purchasing. Physical products can now have a blockchain-based market through the use of Colletrix NFT tokens.
Again, Colletrix seeks to address the problems of the IP and merchandise industry by offering a trustable and credible transaction system through the use of Ethereum system. Colletrix platform will document all sales and transaction records on the Ethereum network such that the IP owners can view it as they happen. This will guarantee more trust and improve credibility in the system generally.
Conclusion
Colletrix is a blockchain-based platform that brings innovations into the IP industry by the use of NFT tokens to create a digital assets for the conventional luxury merchandise. The platform seeks to marry the traditional economy with the new economy such that an entirely-new economic model that benefits both the merchandisers as well as the IP owners is forged.
For more information, visit the links below
Ann Thread
https://bitcointalk.org/index.php?topic=5138397.0
Website
https://www.colletrix.com/
Facebook
https://www.facebook.com/colletrix.io/
LinkedIn
https://www.linkedin.com/company/colletrix
Twitter
https://twitter.com/colletrix
Writer's bitcointalk profile link
https://bitcointalk.org/index.php?action=profile;u=2047938