New York — Wenn Digital, the developer of an image protection blockchain platform licensed by Eastman Kodak, said on Thursday that it intends to raise up to $50m in a combined public and private token offering. Wenn Digital has created the blockchain-based system, called KODAKOne, which looks to protect the copyright of images or photographs registered on the platform. Kodak has a minority stake in Wenn Digital, according to Wenn. US photography pioneer Kodak has been active in developing the blockchain platform with Wenn, and its recent share performance has been strongly tied to the outlook for KODAKOne. Kodak shares shot up in early January to as high as $13.25 when it announced its deal with Wenn Digital, falling after the token offering was delayed. The stock closed at $5.45 on Wednesday. Blockchain, the system powering crypto-currencies such as bitcoin, is a shared database [and digital ledger] that is maintained by a network of computers connected to the internet. Wenn’s toke...
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