Kodak’s ICO Plans to Raise $176 Million from Accredited ‎Investors

Popular photography company Eastman Kodak Co. is planning to raise up to $176.5 million ‎upon launching its own Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term platform KODAKOne along with a photo-centric ‎cryptocurrency known as KodakCoin.‎

The latest update was revealed through an amended filing submitted to the US ‎Securities and Exchange Commission (SEC) by Kodak’s partner WENN Digital, a photo agency that ‎offers paparazzi images. ‎

The KodakCoin ICO was initially planned to take place in early January in ‎partnership with WENN Digital, but its launch was delayed for several weeks. ‎KodakCoin developers delayed the much-anticipated ICO after revealing that only accredited investors, with an ‎individual net worth of $1 million or $200,000 in earnings a year, would be able to buy the tokens.‎

An initial SEC filing in January showed the Kodak’s ICO plans to raise only $6.75 million, which would ‎be issued as a Security Token Security Token Security tokens are cryptocurrency tokens that represent a contract into an underlying security, which could include stocks, funds, bonds, and real estate investment trusts (REITs.) Security tokens can also be used as a method of fundraising. A security token offering (STO) is similar in nature to an initial public offering (IPO), however involves tokenized digital securities, known as security tokens. These are then sold in cryptocurrency exchanges. Tokens can be used to trade real financial as Security tokens are cryptocurrency tokens that represent a contract into an underlying security, which could include stocks, funds, bonds, and real estate investment trusts (REITs.) Security tokens can also be used as a method of fundraising. A security token offering (STO) is similar in nature to an initial public offering (IPO), however involves tokenized digital securities, known as security tokens. These are then sold in cryptocurrency exchanges. Tokens can be used to trade real financial as Read this Term under an exempt offering.‎

However, the latest filing indicates the offering will be made pursuant to a ‎Simple Agreement for Future Tokens, or SAFT, which is a contractual agreement whereby accredited investors obtain the right to a future distribution of tokens.

The more than 100-year-old company saw its share price more than ‎tripled after announcing that it would utilize blockchain technology to ‎create an encrypted, digital ledger of rights ownership for photographers. KODAKCoin will ‎enable participating users to register both new and archive work that they can then license within the ‎platform.

With KODAKCoin, photographers and agencies will receive ‎payment for licensing their work immediately upon sale. KODAKOne operates as the image rights management platform whilst the KODAKCoin cryptocurrency will provide photographers with a new, secure revenue stream.‎