Kodak is now joining the cryptocurrency craze through the KodakCoin. This the new photo-centric cryptocurrency launched by the photo giant Kodak. The announcement of the plans to start the new cryptocurrency resulted in the shares of Eastman Kodak to soar by 100% percent in the last Tuesday’s afternoon trading.
Wenn Digitalis its licensing partner. The company also launched KodakOne, the image rights management platform. This announcement by Kodak was made at the CES technology show in Las Vegas, as soon as the announcement was made, the company shares that opened at $3.10 rose to $7.47.
Kodak said that the new currency for photography could be a KodakCoin in the future. The photographers will get payments for their work that goes on sale. They can sell their work on the new Blockchain platform KodakOne. This new venture will be open for both amateur and professional photographers. The KodakOne will be an encrypted digital platform that gives the lenders the rights to their photograph that includes the new as well as the archived files.
The industry has given mixed reactions to this move from Kodak. There are many who feel that it is Kodak’s last-ditch effort to gain some relevance. The KodakCoin offering will commence on 31st January 2018.