The creator and operator of the blockchain-based KODAKOne Image Rights Management Platform RYDE Holding, Inc recently announced that the Post Licensing Portal component of the firm has generated post-licensing cases of over $1M since it went live in private beta in October 2018.
The KODAKOne Platform, powered by AI technology, provides high levels of automation in contracting, accounting and reporting, which they believe reduces costs that can be pass on to our community. They intend for their own cryptocurrency payment platform to allow our photographers to be paid in KODAKCoin instantly, with fully transparent reporting and recordkeeping.
They have an archive of over 10 million images that are now earning revenues from the post-licensing service provided by Ryde. Their web crawler platform scours the web and detects unlicensed usage of images. A percentage of license fees and damages collected from infringers detected through the KODAKOne Platform goes to the company.
According to the announcement, they have already generated 1,667 new cases since its beta launch in October. They have set a platform to be a leading service provider to the image industry with the goal to help agencies and photographers protect their work, increase image sales and ensure they are fairly compensated.
The beta platform is operational and being utilized by agencies including Blaublut Edition and Food Centrale, as well as numerous photographers, with multiple international customers in the pipeline for the next phase of deployment.
“In the current unregulated media landscape, photographers are unable to control the use of their assets or the context in which they are seen. We are excited that the PLP is live and helping content creators capture income that gets lost to image infringement. However, this is just the beginning of the KODAKOne Platform’s exciting future, which will be enriched by the incorporation of our blockchain,” said Jan Denecke, CEO of RYDE.
The CEO of one of their clients Balublut, Gudrun Wronski added:
“The KODAKOne PLP allows us to promote and license our contributors’ images confident in the knowledge that they are being properly protected. Where any of our content is used without an official Blaublut Edition license we know that KODAKOne will track it and collect the post-license fees on our behalf. Not only does this provide essential extra revenue for Blaublut Edition’s photographers but it also opens doors into new markets, clients and territories that could have been left undiscovered without KODAKOne’s involvement.”
Notably, their crypto, KodakCoin is registered with the US SEC that used Simple Agreement for Future Tokens (SAFT) that limits sale to accredited investors.