Photo: DAVID MCNEW (Getty Images)
There’s no doubt that the cryptocurrency craze is still going strong. Every day, more and more currencies are emerging and the latest one to join the race is the so-called KodakCoin, unexpectedly released by the photography giant, Kodak. These coins will be used as tokens in their new rights management platform – KodakOne. This will allow users and agencies to easily obtain and trade with rights to their work. It also aims to be an actual currency for photographers to use on a trusted platform. It will create a self-preserving economy system and, in turn, offer their users a lot more security during trades.
Another indicator that this was indeed a clever move by Kodak is that the value of their stocks increased drastically as soon as the news were announced. Although the value is still going up, at the moment, the stocks are worth nearly $8.5. Because Kodak’s cryptocurrency has great practical use among the photographers, there’s no doubt that its value too will rise in the future, so this might be a solid investment.
Why KodakCoin, though?
Now, some people question Kodak’s need for cryptocurrency. You could basically do the same thing with a social media platform that’s specifically made for buying and selling artwork. It could work like any other freelancing platform like UpWork. However, the point is that they probably wanted to ride the cryptocurrency wave while it’s still going strong and who can blame them? It seems that they’ve made a good choice.
If you’re interested in purchasing some KodakCoins or want to use it for your artwork, you’ll have to wait till January 31st, when it will officially be released.