You know that the crypto craze is in full effect when old companies start attempting to attach their products and services to the blockchain and digital currencies. For example, have you ever had the pleasure of drinking a Long Island Iced Tea from the Long Island Ice Tea Corp.?
Well, they have changed their name to… Wait for it… Long Blockchain Corp…
Now it’s Kodak’s turn!
They have recently announced a partnership with Wenn Digital that allows them to create a blockchain and fund it with an ICO. The new platform is called KodakOne and the coin is called, you guessed it – KodakCoin.
Here’s what the LA Times is reporting about how it will be used.
The Kodak systems will enable photographers to register work that they can license and then receive payment. The initial coin offering will open Jan. 31.
“Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KODAKCoin,” CEO Jeff Clarke said.
read more at latimes.com
I must admit, it does actually serve a real purpose that could lead to the rebirth of a brand long-ridiculed for being put out of business by the very technology it created, digital photography. I guess they aren’t going to let this whole digital thing get pass them this time.
On the other hand…
Embracing the relatively new phenomenon of digital currencies and blockchain has become a sure-fire and controversial way for companies to remake their images — and boost their share prices.
Either way, this offering will be of interest especially because of Kodak’s lasting brand recognition. At the end of the day however, they are just one of well over a thousand cryptos vying for attention.
So what do you think. Is this a smart, long-term play for Kodak to resurrect the dead or just a pump and dump? Let me know in the comments.