KODAKCoin allows participating photographers to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and sell their work confidently on a secure blockchain platform.
||KODAKCoin allows participating photographers to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and sell their work confidently on a secure blockchain platform.
We’ve all heard of Kodak – or “Eastman Kodak” if we’re being specific. This legendary camera and film company has been capturing the world’s images for 13 decades now. A 130 year old company might be the last business you’d expect to dive into the blockchain space, but Kodak is doing just that. Turning a lot of heads, Kodak introduced its first ever ICO on January 31, 2018.
The Kodakcoin ICO runs for another 8 days (as of the time of this writing), and a second round ICO will occur in the summer. We’ll give you all the information you need to get in on this historic opportunity. But first, we’re going to tell investors why we think investing in Kodak coin is a good idea. By the end of this Kodakcoin review, you’ll know how to buy Kodakcoin and so much else.
Why Does the World Need Kodakcoin?
There’s no question that we’re more than swamped with ICOs these days. Frankly, there are probably hundreds of businesses which don’t need an ICO at all, but which are launching their own cryptocurrency because it can bring in so much money to the company, without the normal headache and regulation of an Initial Public Offering.
Kodak is one of the shining examples of a company that DOES create innovative value with a new blockchain system. In this case, we’re talking about KodakOne, the blockchain protocol which will feature Kodakcoin, and a lot of other cool stuff.
You see, in the world of professional photography, the internet has made it really difficult for photographers to protect and get paid for their images. Countless examples of images being copied and used without payment or attribution. It sucks.
But as much as this reality is hard for photographers, especially photographers just building their careers for the first time, there has been little for them to do about it. Technology being what it is, it was often easier to steal than to pay for images.
This is where KodakOne and blockchain come into the picture. Imagine a software solution where photographers could store, publish, protect, and monetize their images, without the possibility of hacking? KodakOne will be that system.
What Will KodakOne Actually Do?
What won’t the KodakOne system do? Kodak’s new blockchain offering stands to offer tremendous value to photographers of all experience levels. Using the immutability and automation power of the blockchain, Kodak is serving up some amazing features when the mainnet drops later this year.
- With Kodakone, photographers can register their images, which will provide immutable proof of ownership. This will prevent people from using a photographer’s images without payment, permission, or attribution.
- Smart contracts will keep track of these rights and make sure that all of them are being recognized during every process and application an image could be used within.
- KodakOne will handle all user accounting processes, including payments and royalties.
- Users will be able to spend Kodakcoin to do many of the things necessary for their business, like booking hotels and flights, renting equipment and facilities, and interfacing with other professionals and clients. KodakOne will be the ultimate one-stop shop.
- KodakOne will automatically distribute images around the web, according to the specifications of the image owner. No more sending images to countless shops and management centers. KodakOne brings all of this under one roof.
- Once your images are out in the world, KodakOne’s smart contracts will search the internet high and low to find your images, to make sure you’re being paid for your work. Your digital fingerprints will be intimately linked to your IP, and these will not be usable without recognizing your rights as the content owner.
- Users will be able to use KodakOne to keep track of where and how their images are being used around the web. This way a user can know how popular specific images are, and a bunch of other helpful data as well.
- KodakOne will make possible instant payments, via smart contract.
This is a lot of value for photographers of all kinds! Kodak plans to put photographers in the driver seat, controlling many more aspects of their professional career and intellectual property than were ever possible in the previous internet eras. Photographers are excited about this, and so are crypto investors and enthusiasts!
What Role Does Kodakcoin Play?
Simply put, Kodakcoin is the money used in the KodakOne system. Photographers will pay and get paid with Kodakcoin, which can be kept in the system, traded for other cryptocurrencies on outside exchanges, or cashed out into fiat currencies like US Dollar or Euro. Kodak wants Kodakcoin to be the preferred currency of modern photography, and we think they might pull it off!
Why Invest in Kodakcoin?
Whether or not you’re a photographer, you can probably tell that KodakOne and Kodakcoin are really cool ideas that will offer tremendous value to the world of photography. Kodak doesn’t have a working product yet, but this is literally one of the most well known and trusted companies in the world. If anyone can make this happen right, it’s Kodak.
Assuming Kodak does achieve what it says it will achieve, Kodakcoin should hold its value and grow for months and years to come. It really could become the de facto currency of photography, which would inherently make it a strong investment coin as well. Its use cases are easy to understand. This is a dream buy for many investors, and the ICO is still on!
If you want to invest in the Kodakcoin ICO, there’s still about a week during which to do it. If you happen to miss this first round, the company has announced plans for another coin sale coming this summer, so all is not lost. We recommend getting in as early as possible, so now we’ll talk about how to get involved in the ongoing Kodakcoin ICO.
How to Buy Kodak Coin at ICO
Because many of our future readers may miss out on the first round of Kodakcoin ICO, we’ll first describe hot to invest in Kodak coin after the ICO is complete. It’s yet unknown which cryptocurrency exchanges Kodakcoin will be introduced upon (Binance, Bittrex, Poloniex, etc.).
How to Invest in the Kodakcoin ICO
If you do happen to read this guide shortly after publication, there may still be time to get in on the Kodakcoin ICO! Start by heading over to Kodakcoin.com and registering there for the Litepaper.
Click on “Lite Paper Sign Up” button. This will bring up the image you see above. Input your first and last name, your email, and let them know you are not a robot. Then hit “send”. You’re not done, but you will have to wait.
The Kodakcoin ICO is a bit picky about who they let into the sale. The sale will only be open to citizens of the United States, the United Kingdom, and Canada (sorry, everybody else). There will also be an accreditation process, according to the laws and regulations of the nations already mentioned. Whatever may be the case for citizens of your nation, you can be sure that the Kodakcoin ICO will be in touch with you.
While you wait, make sure you have Ethereum. This is the currency payment option accepted through the Kodakcoin ICO. Kodakcoin will be an ERC20 token, meaning it will be launched using the technology of the Ethereum blockchain. Here’s how to buy Ethereum for this purpose.
Buy to Buy Ethereum for the Kodakcoin ICO
Buying Ethereum is easy. Go to Coinbase, Coinmama, CEX.io, or Changelly, whichever suits your fancy or works best for your needs.
Whichever method you use, you should send your Ethereum to a MyEtherWallet address once it is purchased. This is because ICOs like the Kodakcoin ICO do no accept payments that come directly from exchanges. Go to MyEtherWallet.com and create an account, taking careful note of the private key they show you, as this acts both as password and an emergency measure to recover your wallet if something goes wrong. Your address will appear in the upper right side of the homepage, as pictured below.
Back on the exchange that currently holds your Ethereum, paste your MyEtherWallet address in the “Withdraw” or “Send” option for your Ethereum wallet. Confirm the transfer after you’ve made doubly sure that you’ve pasted the correct MyEtherWallet address into the address line on the exchange withdrawal menu. When you’re sure (and you can always send a small amount first to make sure), complete the transfer. Now, when you’re ready to send your Ethereum into the Kodakcoin ICO, your coins will be in the right place.
**Important note: since Kodakcoin will be an ERC20 token, the chances are good that you’ll be able to store Kodakcoin within MyEtherWallet! We have no confirmation on this, but this is generally the case with new ERC20 tokens.**
Final Thoughts on the Kodakcoin ICO
We’ve told you a lot about Kodakcoin, the upcoming Kodakone photography management blockchain protocol, and the ways in which to get into Kodakcoin as an early investor. We think Kodakcoin and Kodakone stand a good change of majorly disrupting the photography industry (in a good way!).
Investors who get in now could see huge returns, and professional photographers who adopt the new cryptocurrency and blockchain platform could see real professional benefits. We wish all interested parties the best of luck!