ICOx Innovations Client KODAKOne’s Generated $1M
ICOx Innovations Inc, (TSXV and OTC: ICOX) (the “Company” or “ICOx Innovations”), which designs and creates blockchain economies for established companies to benefit and grow their businesses through blockchain technologies and branded cryptocurrencies, announced today that its client, the blockchain-based KODAKOne Image Rights Management Platform and the KODAKCoin cryptocurrency, has generated post-licensing cases valued at over $1M since the Post-Licensing Portal component of the KODAKOne Platform went live in private beta in October 2018.
The KODAKOne PLP has already generated 1,667 new cases since its beta launch in October. Executives from ICOx Innovations, KODAK and KODAKOne’s creator RYDE Holding, Inc. are attending CES, where the intention to build the KODAKOne platform was first announced, to celebrate this milestone. Under the guidance of ICOx Innovations, the platform is positioned to be a leading service provider to the image industry with the goal to help agencies and photographers protect their work, increase image sales and ensure they are fairly compensated. The beta platform is currently operational and being used by agencies including Blaublut Edition and Food Centrale, as well as numerous photographers, with multiple international customers in the pipeline for the next phase of deployment.
“Real-world use cases are critical to widespread adoption of blockchain and cryptocurrency solutions, and these early successes will pave the way for the broader rollout of the full KODAKOne platform,” said Cameron Chell, Chairman of ICOx Innovations, which helped create and launch KODAKOne. “We hope these accomplishments will serve as proof points for big brands curious about these technologies’ ability to improve their businesses and customers’ experiences.”
The KODAKOne PLP utilizes artificial intelligence powered web crawler and image-recognition technology to offer photographers and rights-holders dependable and trustworthy online image-usage tracking. This is coupled with a positive and user-friendly approach to help convert infringers into customers. The portal gives rights infringers a simple step-by-step process to make it easy to license image usages retroactively and avoid unnecessary legal disputes.
As a business partner and equity stakeholder in the company, ICOx Innovations assists RYDE Holding with developing and integrating KODAKOne’s blockchain and cryptocurrency technologies, as well as strategy and corporate business development offerings related to KODAKCoin and the KODAKOne platform. RYDE Holding has a brand licensing agreement with the iconic imaging technology company to use the Kodak brand in connection with the KODAKOne platform and KODAKCoin.
“In the current unregulated media landscape, photographers are unable to control the use of their assets or the context in which they are seen,” said Jan Denecke, CEO of RYDE Holding. “We are excited that the PLP is live and helping content creators capture income that gets lost to image infringement. However, this is just the beginning of the KODAKOne platform’s exciting future, which will be enriched by the incorporation of our blockchain.”
While the KODAKOne PLP protects image creators’ rights today, the distributed ledger technology that KODAKOne is developing will expand efforts to prevent infringement of many kinds of digital assets in the future. The blockchain registry will immutably store more relevant information associated with an image with a smart contract-based registration. Records on the blockchain are tamper-proof, providing undeniable claims to ownership. All intellectual property such as personality rights, property rights, licensing rights, and brands can be managed by the platform in the near future. Other blockchain projects will be able to join the KODAKOne platform to protect their assets in a similar way, while they are connected.
With ongoing assistance from ICOx Innovations, the KODAKOne platform is planned to be launched and fully operational in 2019.
About ICOx Innovations
ICOx Innovations is positioned for the long term as an enterprise platform for building blockchain economies for established brands. ICOx Innovations provides a platform for the design and creation of crypto economies that solve real-world problems with established organizations. ICOx Innovations provides operational insights intended to benefit and grow its customers’ businesses through the use of blockchain technology and cryptocurrencies. The ICOx Innovations platform is compliance-driven and combines rigorous strategic planning, capital structuring, technical integration and token economics model development, designed to allow its clients to create sustainable economies. The ICOx Innovations team co-founded KODAKOne, a blockchain-based image-rights management platform, and is the co-architect of KODAKCoin, the token that will reward and incentivize the KODAKOne platform users. Notably the Honorable Edmund C. Moy, 38th Director of the United States Mint (2006-2011) and the Honorable Alphonso Jackson, Former US Cabinet Secretary & Former Vice-Chair of JP Morgan Chase are members of the ICOx Board of Directors, For more information on ICOx Innovations, go to: www.icoxinnovations.com.
Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@icoxinnovations.com
Media Contact
ICOx Innovations
Arian L. Hopkins
Communications, ICOx Innovations
arian@icoxinnovations.com
Investor Inquiries
Phone: 424-570-9446 ext 8
ir@icoxinnovations.com
About RYDE Holding, Inc.
RYDE Holding, Inc. (formerly WENN Digital, Inc.), a brand licensee of Eastman Kodak Company, is the creator and operator of the KODAKOne Platform and the KODAKCoin Tokens. RYDE and its advisors are an experienced development and operations team with expertise in proprietary blockchain development, big data, copyright law, AI-enabled image recognition and post-licensing monetization systems. For more information, go to kodakone.com.