Kodak, one of the most important companies in the world during the last century, has launched an Initial Coin Offering (ICO), and created a token known as KodakCoin. The company has decided to create a platform for photographers in which they would be able to upload their pictures and get paid for them.
Kodak has been losing part of its market since the last quarter of the XXth century. It had to face new technology developments like digital cameras. During the XXIst century, the story totally changed for Kodak, telephones with integrated cameras improving year after year were destroying Kodak’s market. Finally, in 2012 it went bankrupt.
Kodak Enters The Crypto Market
Since then, Kodak has been trying to enter the market again, this time next to virtual currencies. They have promoted their own ICO known as KODAKOne and its native token called KodakCoin. After announcing it, its shares grew 88%. Was it a new beginning for the image rights management platform company?
The intention is to create a marketplace for photographers to register their pictures on the blockchain and allow micropayments to take place in the platform.
In order to keep expanding, Kodak, alongside with the technology company WENN Digital, announced a partnership with four NBA arenas and two NHL stadiums to create a system in which fans could upload their pictures and videos they take during games and potentially get paid for them.
At the moment there is no information about how the users would be paid for it, but the most logical assumption is that some kind of smart phone app would let users register the pictures on the KODAKOne blockchain ecosystem.
This is a very important opportunity for media outlets to purchase pictures from inside the stadium at a lower price. Moreover, users would start earning KodakCoin cryptocurrency tokens as soon as an enterprise or individual purchase pictures.
The participating arenas for the NBA/NHL teams/arenas will be:
- AT&T Center (San Antonio Spurs) NBA
- Bankers Life Fieldhouse (Indiana Pacers) NBA
- Golden 1 Center (Sacramento kings) NBA
- Talking Stick Resort Arena (Phoenix Sun) NBA
- Xcel Energy Center (Minnesota Wild) NHL
- Prudential Center (New Jersey Devils) NHL
More than ten million fans have attended their games during the last years. This is a very important point for KodakCoin and the KodakOne platform. This move taken by Kodak could completely reshape its profits and landscape as an enterprise. They also partnered with OVG (Oak View Group) to help support rights registration and protection experience.