Kodak shares have doubled after the former photographic equipment company announced it will launch Kodakcoin on 31 January 2018, a cryptocurrency that allows photographers and agencies to control the intellectual rights of their photos.
The company's announcement comes amid growing investor interest in cryptocurrencies and the technology that accompanies them, Mediafax reports.
Kodak, who years ago was the synonym for photographic film, went bankrupt in 2013, after selling much of its patents to Apple and Microsoft. The company now focuses on digital and print photography. The company's shares rose to New York from $ 3.70 to $ 6.80, setting the company's market value to $ 289.5 million.
KodakCoin is a photographer-oriented blockchain cryptocurrency that is purposed as a mean of payments for licensing photographs and is planned to be launched on January 31, 2018. The framework built on will be as other ICO's – Ethereum. It seems that KODAK is at its second attempt in the blockchain industry and this could be a re-branding of previous failed crypto entitled RYDE, which was developed by WENN Digital company.
I believe that this is a good opportunity for investment once the KodaKcoin is released as it is accompanied by a strong brand and they are tried to address a real problem of our days. Either you invest in the KODAK shares, but maybe more in the cryptocurrency that will be released this will be a good investment from the market response so far.