Kodak delays KodakCoin initial offering
The value of shares in Eastman Kodak have started to decline following the company’s announcement its initial coin offering has been hampered by delays. Having announced the launch at the CES technology trade fair, Kodak claim to have attracted over 40,000 potential investors.
The delays have been attributed to the impetus on creating a safe community through the verification of each investor. "With over 40,000 potential investors expressing an interest in the ICO, we are now moving into the 'accredited investor' phase," it said.
Kodak went further to point out to potential investors that there is an increasing number of fraudulent websites purporting to sell KodakCoin tokens. Any investors wishing to buy should do so on the official website and Facebook page.
Many have criticised the company for attempting to revive its fortunes through such a volatile market like crypto-currency. Kodak argue that Kodakcoin enables photographers to register, license and manage their images more efficiently. However, with shares in the company soaring nearly 120% following the announcement of the crypto-currency, they will be hard-pressed to convince anyone this is a sensible business decision for a 130-year-old photography company rather than a quick gamble.
