Kodakcoin recently just completed their ICO (initial coin offering), but at the same time they released some promising news on a partnership with the NBA and NHL to allow photographers to store their photos within a decentralized platform.
What exactly is going on?
The idea is that fans and photographers at the six participating arenas, including the San Antonio Spurs’ AT&T Center, can upload and register photos on the site.
The platform, KODAKOne, and cryptocurrency, KODAKCoin, according to WENN Digital CEO Jan Denecke is “all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new economy tailored for them, with secure asset rights management built right in.”
So how does the platform work?
Photographers can register their work and store it on the KODAKOne platform. Then, the community of artists engaging with the platform are able to use the KODAKCoin as a means of payment either for licensing or sale under the protection of an encrypted blockchain that tracks ownership and enforces artist rights to content.
At the six participating sports arenas, fans will be encouraged to upload, register and share their live-event photos or videos on KODAKOne and have the opportunity to be rewarded with payments in KODAKCoin.
What does this mean for photographers?
With KODAK’s platform, photographers can now earn more money for their work. Photography has always been known as a professional that’s hard to earn stable money in. With KODAK’s new platform, not only can photographers earn more side income, but at the same time own all their assets through a decentralized platform.
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