Kodak is a legacy photography company with great success the last century and is about to launch its own cryptocurrency, the Kodakcoin. Also, the company has decided to get involved in cryptocurrency mining as a desperate attempt to stay relevant. The news revealed on Wednesday at CES 2018.
Kodak reinventing itself as a cryptocurrency mining company is something that no one saw coming
CES is the largest technology event in the world and is hosted in Las Vegas. There, industry leaders such as Sony and Samsung introduced their cutting-edge projects and products. However, this year, Kodak stole the show and caught everyone by surprise.
In addition, Kodak introduced one more innovation, stating that it will start renting out Bitcoin miners to the public. The miners appeared to be “Bitmain” mining rigs with a Kodak sticker on them, implying that the whole plan may have been quickly arranged. This theory is supported by the revelation that the Kodacoin’s website was only registered a few days ago (on January 2).
Kodak shows that support its project
In order to support its new mining operation, Kodak announced its plans to install a mining rig in its headquarters in New York. Kodak’s branded miners are going to be leased to customers and they have to pay upfront for the mining capacity. Note that investing in the token sale of Kodak is open only to SEC-registered investors.
How will Kodakcoin affect the market?
A trader at Bright Trading LLC expressed his disappointment at Reuters, referring to this project as “ridiculous”. None of all these make sense to him. However, institutional investors don’t care about these comments. They care though if there is a chance to profit from investing in this project and this seems very likely to happen.