Amid ICO Crackdowns, Kodak Announces $50 Million Public Sale of Native Token

Despite global powers like the US and China scrambling around to prepare lucid regulatory laws for the burgeoning digital assets sector, American companies like Eastman Kodak are taking the audaciously bold plunge to launch their own ICO. On May 10, 2018, Wenn Digital, a big data and AI-enabled image recognition platform, officially announced the impending launch of the KodakCoin ICO, in partnership with Kodak, an American imaging products manufacturer. Due to commence on May 21, 2018, the blockchain-based image rights KodakCoin ICO has set its sights on a $50 million target, having previously raised $10 million in January 2018. The KodakCoin aims to tokenize image and creative rights of photographs, alongside offering a native photo licensing platform. KodakOne remains unsure on its token’s proposed status, as a security classification would grant ownership of assets to token-holders, whereas a utility classification would simply provide buyers with access to certain features. However, the company claims to have been in “constant touch” with regulatory bodies, including the SEC.

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