# Codex Protocol, ConsenSys and Rare Art Labs to Hold Live Auction at Ethereal Summit in NYC Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-11 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Artworks Sold Register on Codex Blockchain Meta Description: Join Codex and ConsenSys at Ethereal Summit for the first ever A&C title registry on the blockchain. Bid on crypto-themed artworks and support blockchain URL: https://financedigest.com/codex-protocol-consensys-and-rare-art-labs-to-hold-live-auction-at-ethereal-summit-in-nychtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd110418-4-1736842848244-compressed.jpg) _Artworks Sold Will Be The First To Register On The Codex Blockchain_ [Codex](https://codexprotocol.com/), a decentralized title registry for the $2 trillion dollar arts & collectibles (A&C) asset class, has announced today that it will be partnering with [ConsenSys](https://consensys.net/) to host a live charity auction at [Ethereal Summit](https://etherealsummit.com/), happening in New York City on May 11 and 12, 2018. The live auction will be part of a broader sale of artworks hosted together with [Rare Art Labs](https://www.rareart.io/). Proceeds from the sales will go to a foundation, which is being established to support creatives working at the intersection of [blockchain](https://www.financedigest.com/94-of-financial-services-executives-believe-boards-have-bought-into-blockchain-synechron-survey-shows.html) technology and art. Codex CEO Mark Lurie said, “It has been our goal at Codex to harness the power of [blockchain](https://www.financedigest.com/94-of-financial-services-executives-believe-boards-have-bought-into-blockchain-synechron-survey-shows.html) technology to realize the true value of [arts](https://www.financedigest.com/investing-property-invest-art-instead.html) & collectibles. By partnering with ConsenSys and Rare [Art](https://www.financedigest.com/investing-property-invest-art-instead.html) Labs at Ethereal Summit, we have an opportunity to make this goal a reality, showcasing our unique value proposition and demonstrating to crypto-holders that art and collectibles is an [important and viable part of a diversified investment portfolio](https://www.financedigest.com/investment-portfolio-diversification-why-its-important-and-how-to-do-it.html "Investment Portfolio Diversification: Why It’s Important and How to Do It"). At Codex, we are keen to develop tools which are helpful for the artistic community and recognize that artists play an [important role](https://www.financedigest.com/the-importance-of-role-models-and-policy-in-encouraging-more-women-to-pursue-careers-in-the-finance-sector.html "The importance of role models and policy in encouraging more women to pursue careers in the finance sector") in the development and dissemination of new technologies. Establishing the [foundation allows us to offer financial support](https://www.financedigest.com/annodata-renews-sponsorship-with-gll-sport-foundation-helping-deliver-support-to-almost-3000-talented-athletes.html "Annodata renews sponsorship with GLL Sport Foundation, helping deliver support to almost 3,000 talented athletes") to the artistic community to encourage them to engage with blockchain.” Ethereal Summit marks the first time that [arts & collectibles](https://www.financedigest.com/ngunu-tiny-on-how-industrialist-henry-clay-frick-left-one-of-the-finest-art-collections-in-the-world.html "N’Gunu Tiny on How industrialist Henry Clay Frick left one of the finest art collections in the world") will be written into the Codex blockchain. Unlike other major asset classes, the A&C [market lacks](https://www.financedigest.com/global-emi-shielding-market-significantly-hit-by-lack-of-consumer-demand-scenario-post-covid-19-crisis-likely-to-remain-gloom.html "Global EMI Shielding Market Significantly Hit By Lack Of Consumer Demand; Scenario Post Covid-19 Crisis Likely To Remain Gloom") a formal title registry, making it difficult to buy, sell, securitize, insure, and lend against the asset class. However, with Codex, buyers will receive a Codex title, which provides them with an accurate and immutable ledger of verifiable provenance and authenticity. Using Codex’s landmark application, Biddable, buyers and sellers alike will be able to participate in auctions with greater [market transparency](https://www.financedigest.com/cellulite-treatment-market-size-is-set-to-experience-revolutionary-growth-by-2026-transparency-market-research.html "Cellulite Treatment Market Size is Set to Experience Revolutionary Growth by 2026 | Transparency Market Research") — increasing privacy, security, and accuracy across the ecosystem. For those not in New York for the summit, Codex will be providing a mobile app that will [allow bidding to occur remotely from anywhere in the world](https://www.financedigest.com/total-allowable-catches-tac-and-fishing-quotas-across-the-world-turning-favourable-for-the-global-mackerel-market-sales.html "Total Allowable Catches (TAC) And Fishing Quotas Across The World Turning Favourable For The Global Mackerel Market Sales"). [Interested parties can expect to see](https://www.financedigest.com/portugal-pm-welcomes-lufthansas-interest-in-tap-scholz-sees-good-fit.html "Portugal PM welcomes Lufthansa’s interest in TAP, Scholz sees good fit") a wide variety of crypto-themed artwork from top artists in the space, with the addition of surprise listings that will be announced prior to the auction. As part of a larger [sale of crypto-related art](https://www.financedigest.com/top-auction-houses-cancel-russian-art-sales-in-london.html "Top auction houses cancel Russian art sales in London"), Rare Art Labs and Codex Protocol will exhibit and offer further works through fixed-price sales and a silent auction. Rare Art Labs is building the decentralized R.A.R.E. Network – a [platform for artists to sell](https://www.financedigest.com/gazprom-says-it-will-not-sell-gas-on-its-spot-platform-this-week.html "Gazprom says it will not sell gas on its spot platform this week") scarce copies of their digital art.  Because computer files suffer from a replication and redistribution problem, [digital artists have never before been able to monetize their passion projects](https://www.financedigest.com/tilapia-market-projected-to-witness-a-double-digit-cagr-during-2019-2028.html "Tilapia Market Projected to Witness a Double-Digit CAGR During 2019-2028"). The R.A.R.E. Network [leverages the IPFS and Ethereum blockchain to make digital](https://www.financedigest.com/the-peppermint-oil-market-to-leverage-the-digital-disruption-wave.html "The Peppermint Oil Market To Leverage The Digital Disruption Wave") artworks permanent, scarce, and tradeable.  John Zettler, President of Rare Art Labs, said, “We are so excited to host sales of R.A.R.E. [digital art throughout](https://www.financedigest.com/the-global-digital-label-printing-market-will-grow-at-a-significant-cagr-throughout-2020-2030.html "The Global Digital Label Printing Market Will Grow At A Significant CAGR Throughout 2020-2030") the Ethereal Summit. It’s a privilege to collaborate with Codex and ConsenSys—two [companies who share](https://www.financedigest.com/exit-from-taiwan-lifts-shares-of-french-company-carrefour.html "Exit from Taiwan lifts shares of French company Carrefour") our vision of a better future for artists.” “The sale of artworks by Codex Protocol and Rare Art Labs will surely be a highlight of this year’s event,” said Ethereal Co-Creator and ConsenSys Director Jesse Grushack. “It will showcase to the world that blockchain is more than just a buzzword. It’s a technology with the [potential to make a tangible impact](https://www.financedigest.com/the-potential-impact-of-coronavirus-covid-19-for-riveting-tools-market-revenue-opportunity-forecast-and-value-chain-2021-2028.html "The Potential Impact Of Coronavirus (Covid-19) For Riveting Tools Market Revenue, Opportunity, Forecast And Value Chain 2021-2028") on the modern economy and society. We look forward to [seeing the auction promote artists working](https://www.financedigest.com/eu-sees-more-work-ahead-to-implement-russian-oil-price-cap.html "EU sees more work ahead to implement Russian oil price cap") in this important area and demonstrating real interest in arts and collectibles from the crypto community..” Hosted by ConsenSys, the Ethereal Summit highlights two days of substantive sessions featuring notable entrepreneurs, investors, and government officials regarding the [future of blockchain and its mainstream applications for cultural projects](https://www.financedigest.com/pediatric-hiv-infection-treatment-market-by-covid-19-impact-analysis-volume-and-value-revenue-business-opportunity-future-projections-and-key-trends.html "Pediatric HIV Infection Treatment Market By Covid-19 Impact Analysis – Volume And Value, Revenue, Business Opportunity, Future Projections, And Key Trends"). The event hosted nearly 650 attendees in 2017, with more expected for its upcoming conference. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---