HONG KONG :- Colletrix announced today the official launch of its project and the release of its whitepaper, available for download on https://colletrix.com. Project Colletrix will use blockchain technology to revolutionize the intellectual property (IP) and merchandising industries, bringing benefits to original IP owners and consumers alike. As part of the launch in conjunction with Bitwork Accelerator, Colletrix will submit its application for an initial exchange offering (IEO) on several exchanges later this month.

Colletrix will use ERC-721 non-fungible token (NFT) technology to transform IP creations / designs into digital assets, which can be paired with physical merchandise for sale as collectibles. The NFTs can then be collected and traded for resale by consumers on the reliable and secured crypto exchanges to unlock more benefits in the future.

Original IP owners, by receiving perpetual licensing fees from each trade of the NFT, can thereby receive lifelong monetization benefits from their creations, long after they have been passed around. Consumers, by owning a digital asset along with their physical merchandise, can not only support their favorite artists, designers and brands (the original IP owners), but also enjoy the appreciation value of the NFTs stemming from popularity of the designs.

By digitizing the IP economy and unlocking the true value to the original IP creators and the consumers, Colletrix will create an entirely new business model that combines the traditional and new economies, bringing out the best in both. By introducing the Colletrix token (CIPX, based on the ERC-20 standard), Colletrix will provide a distributed infrastructure platform to pair with the NFT trading platform which will allow consumers to purchase different types of physical collectible merchandise through its expandable ecosystem.

The project is backed by Bitwork Accelerator, UNDONE, Animoca Brands (including its strategic partners Cryptokitties and Decentraland) and Future Arena. UNDONE will deliver its expertise in collectible watch customization and merchandising, Animoca Brands will bring its strong collection of game and character IPs and gamification experience, while Future Arena will leverage its strong portfolio of sports / entertainment IPs and key opinion leaders – all to create a vibrant ecosystem of IP creation, trading and physical merchandising using blockchain technology.