to plan, the company has joined Wenn Digital to launch a KodakOne image-rights platform which will take advantage of KodakCoin.
In case you are wondering, KodakCoin is a photo-centric virtual currency which is aimed to create a reliable photo economy which will ensure that you get paid instantly in case someone buys your picture. At the moment, the initial coin offering will debut later this month for investors in the US, Canada, the UK and several other countries.
While there is obvious advantage to Kodak’s approach, we will have to wait to see if the move is here to stay. For instance, few weeks earlier, Long Island Iced Tea tripled its stock price after it announced its plan to mine bitcoin as it renamed itself as Long Island Blockchain. However, recently the company dropped the offering and can’t guarantee if the Bitcoin mining will coin will continue in the coming days.
As for now, following the latest announcement, Kodak’s stock price just doubled. However, the biggest problem the company will face is to prove that the cryptocurrency based strategy is here to stay rather than an opportunity to stay afloat.