LiveAuctioneers, the world's leading online marketplace for auctions of collectibles, antiques and fine art, today announced its participation in the Codex Consortium, which supports the CodexProtocol, a decentralized title registry for the $2 trillion arts & collectibles (A&C) asset class that brings provenance onto the blockchain. LiveAuctioneers has committed to adopting CodexProtocol, its native token, and its first product, Biddable, the day the protocol is launched. In the short term, Biddable will make bidding easier for LiveAuctioneers' audience of 12 million users,enable bidding with cryptocurrency, and bring an influx of cryptowealth to auction houses. Over the long term, Codex will create a larger and more trusted art and collectibles market that willbenefit LiveAuctioneers' auction-house partners.

As part of the Codex Consortium, LiveAuctioneers will be working closely with the Codex team and integrating the protocol into its online marketplace. Codex's first application, Biddable, willmake it possible to register for auctions instantly by leaving a cryptocurrency deposit and to pay for won items in cryptocurrency. Today, auction houses lose substantial revenue to bidders whorenege on items they win. Because of this, many auction houses require extensive financial disclosures from potential bidders just to participate. With Biddable, anyone can bid easily withoutinvasive financial disclosures.

"We are thrilled to be one of the first members of the Codex Consortium and to bring Biddable to our users. At LiveAuctioneers we pride ourselves in being the first to help auction-house partnersgrow sales with innovative technology solutions," said Phil Michaelson, president of LiveAuctioneers. "While we have been recognized in the industry for our customer service, there are majorfrictions in the bidding experience. Registering for auctions can be hard, especially for foreign bidders and those with anonymous wealth.

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LiveAuctioneers joins Codex Consortium;blockchain protocol set to revolutionize auction marketplace(http://artdaily.com/news/102160/LiveAuctioneers-joins-Codex-Consortium--blockchain-protocol-set-to-revolutionize-auction-marketplace#.WncYiYjwaAt)