Kodak was supposed to introduce its ICO, KodakCoin, on the crypto market on January 31st. However, Kodak announced that it will need a few more weeks before it can debut its ICO. They would like to get to know their target market and consumers better. Originally, Kodak’s stock increased a little over 200% when the ICO was announced, but just recently it plunged to 13%. New York Times has made critical remarks that have gone against the Kodak ICO. The most common reasons why they have commented negatively about it, is because the ICO has partnerships with questionable companies. A penny stock promoter and a paparazzi agency are some of Kodak’s partners. Kodak did file for bankruptcy just a few years ago, so the company has been dealing with quite a bit of controversy. Kodak’s ICO will be creating blockchain technology for photographers and the management of their work and photos. The technology will stop violaters who steal other photographers pictures, and will allow the photographers to license their work accordingly. What’s our take on it? We feel that this ICO will not be a success. The proof is in the pudding. KodakCoin will be offering overpriced miners and will be taking half of investors’ mined profits. Thanks but no thanks.
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