Kodak jumps after announcing blockchain initiative and cryptocurrency
Shares of Kodak (KODK) surged after the company and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to “empower photographers and agencies to take greater control in image rights management.”
Kodak CEO Jeff Clarke said: “For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords, but for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem.
Kodak has always sought to democratize photography and make licensing fair to artists.
These technologies give the photography community an innovative and easy way to do just that.” The initial coin offering will open on January 31, 2018 and is open to accredited investors from the U.S., UK, Canada and other select countries.
Following the company’s announcement, Kodak shares are up $2.72, or 85%, to $5.85.
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