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|Development status||Initial coin offering|
KODAKCoin is a photographer-oriented blockchain cryptocurrency used for payments for licensing photographs. The initial coin offering (ICO) was scheduled for January 31, 2018, but was delayed for several weeks so that accredited investors could be validated.
KODAKCoin will be available to accredited investors in the United States, United Kingdom, and some other countries. Working in conjunction with the KODAKOne digital rights management platform, it will serve as the currency for an encrypted, ledger of intellectual property rights ownership. KodakCoin will use the Ethereum blockchain platform.
KODAKCoin is the result of a partnership between Kodak and WENN Digital. KodakCoin may be a rebranding of an abandoned initial coin offering (ICO) known as RYDE, a cryptocurrency developed by WENN Digital. WENN Digital is a company formed by investments from Wenn Media Group and Ryde GmbH, a German company.
KODAKCoin is designed to work with Kodak's KODAKOne (or KODAKOne) platform, to facilitate image licensing for photographers. The KODAKOne platform uses web crawlers to identify intellectual property licensed to the KODAKOne platform, with payments for licensed photographs made using KODAKCoin cryptocurrency.
Following the January 9 announcement of the new platform at the 2018 CES in Las Vegas, Kodak's stock price tripled in two days, as its market valuation increased to US$565 million, an increase of more than 300 percent. By the end of January, one third of Kodak's shares were trading short.