The Initial Coin Offering For KodakCoin Is Delayed

The Initial Coin Offering For KodakCoin Is Delayed

As we have already informed you, the former photography heavyweight KODAK is launching its own cryptocurrency, the KodakCoin. During the pre-sale, eight million tokens were sold but the initial coin offering was put on hold.

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As we have already informed you, the former photography heavyweight KODAK is launching its own cryptocurrency, the KodakCoin. During the pre-sale, eight million tokens were sold but the initial coin offering was put on hold.

The ICO was scheduled for the last day of January but it didn’t go as planned. On the official website of the new Kodak platform, there is a statement giving further details about the delay. The company is determined to investigate the financial capabilities of every single investor and this process turned out to be more time-consuming than expected.

Kodak checks whether potential investors are accredited in the USA. They must have a total net worth of at least one million dollars or an income of minimum $200,000. Due to the large interest in the project, the crew behind KodakOne would need several weeks to verify all the interested parties.

The KodakOne platform is designed to utilize blockchain technology and help photographers protect their image rights. The project is the child of the partnership between WENN Digital and Kodak. It will serve as a decentralized platform that protects intellectual property over photos. The platform has its own cryptocurrency, the KodakCoin.

Many believe that Kodak is yet another company trying to catch the recent wave of cryptocurrency craze and cash on it. The industry has seen many firms doubling or tripling their stocks after the addition of the word “blockchain” in their name. The SEC in the USA revealed last week that it will give its best to prevent such ugly moves in the future.

Google’s stock register indicates that after the delay took place on January 31, Eastman Kodak Co. share prices have dropped.

There is something very important mentioned in the statement by KodakOne. It warns the public that many scam websites are pretending to offer KodakCoin ICO, thus trying to monetize the high interest. Furthermore, misleading ads are circulating the social media websites, trying to lure visitors in spending in the ICO.

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