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Blockchain-powered image rights management platform KODAKOne’s Post Licensing Portal (PLP) has generated post licensing sales of more than $1 million since its beta launch in October 2018.
RYDE Holding, formerly Wenn Digital, the creator and operator of the blockchain-based KODAKOne, made the announcement on Tuesday. According to the official release, the KODAKOne PLP has already generated 1,667 new cases since it went live in private beta last year.
The beta platform is currently being used by agencies including Blaublut Edition and Food Centrale, as well as numerous photographers. RYDE said that there are several international customers in the pipeline for the next phase of deployment.
“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,” said Jan Denecke, CEO of RYDE.
The KODAKOne PLP utilizes Artificial Intelligence powered web crawler and image-recognition technology to offer photographers and rights-holders an online image-usage tracking tool. It protects image creators’ rights and registers them with smart contracts in the blockchain.
In addition, the platform also works towards converting rights infringers into customers by making it easy to “license image usages retroactively and avoid unnecessary legal disputes,” RYDE said.
It further said that the distributed ledger technology being developed by KODAKOne will expand efforts to prevent infringement of many kinds of digital assets in the future, such as personality rights, property rights, licensing rights, and brands.
KODAKCoin
Once the KODAKOne platform is fully operational, RYDE plans to issue the KODAKCoin in 2019. Last year, reports suggested that the final phase of the KODAKCoin token offering was scheduled to start on May 21, 2018.
However, in an update published last week, KODAKOne clarified that it did not launch an initial coin offering (ICO) but rather a SAFT offering, which has raised $5 million so far. However, the SAFT offering fell short of its original funding goal.
“The regulatory landscape for ICOs shifted dramatically throughout 2018 — and despite being KODAKOne was also one of many projects to be impacted by the market downturn. After assessing the situation, we made the deliberate decision to hit the pause button while the dust settles, allowing us to put even more focus on building our product,” it added.
“Due to regulatory conditions we decided to open our SAFT Offering only to accredited investors who met certain, more stringent financial criteria…We believe anyone who meets standard KYC and AML checks will be able to buy the coin.”
[The article is not intended to be an endorsement of cryptocurrency and does not constitute investment advice.]
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