Source: Coinstaker, originally published on .
Kodak, after struggling for years, is making major moves this year that might just see it go back to its glory years. After the invention of the digital camera, the film company was slowly pushed out of the market as smartphones took over. Since then, the company has been struggling to keep hold of its market base. However, at the start of this year, the company began by launching an image rights management platform. The platform would be based on blockchain technology and would be incorporated with an in-house cryptocurrency. Kodak would collaborate with WENN Digital who built and maintained the platform. The management platform, KODAKOne, has since seen some improvements and some major partnership deals. One major deal that has been recently struck will see the F1 champion, Fernando Alonso, uploading his entire digital album collection to the platform. The partnership that was struck by WENN Digital and the renowned driver will see him upload his personal and professional photos and videos on the platform. The KODAKOne Image Rights Management Platform will then henceforth protect them from any rights abuse.
Deal To Benefit The Racer’s Fans
The partnership will potentially benefit the driver’s fans as those who take his photos will be able to register on the platform, upload and protect these photos. They can then make money from selling the rights of the photos to willing buyers. In this case, they will have to be paid via the in-house currency that Kodak has dubbed KODAKCoin. They can then trade the coin to get their preferred crypto or fiat which the company reckons will advance their digital token, making it popular in the market. The recent winner of the 24 hours Le Mans had this to say about the opportunity granted to his fans;
I’m very excited to know that I have the ability to reward my fans and professional photographers for their creativity and that the content they produce can be protected by a single platform.
He also acknowledges that there are many opportunities for photographers to take advantage of which include the numerous F1 events. The thousands of photos and videos taken of him can then be protected by the photographers and potentially have them rewarded for their skillful work, all under one platform.
The rights management platform that is yet to start operations is expected to be in full swing by the end of the year or early on in 2019. Before then, company executives say that they are looking to partner with other interested partners who would like to have their digital albums protected and their fan base recognized and rewarded.
This deal comes barely a month after Kodak partnered with several NBA and NHL stadiums. Fans of these NBA and NHL teams can now register and upload photos and videos they take from the stadium during the events, protect them and potentially make money from selling them. This was another major move that could see the KODAKOne platform and the KODAKCoin easily take off.