One of the most anticipated initial coin offerings (ICO) in 2018, Kodak and its KODAKCoin security token has shared more than 40,000 potential investors have expressed interest in participating in the funding round. KODAKCoin is now moving to the “accredited investor verification phase” where individuals must validate their investor status. KODAKCoin expects this process to take weeks as they sort through all of the documentation.
The definition of an Accredited Investor in the US, a controversial rule, states that individuals must be worth more than $1 million (minus their primary residence) or earn more than $200,0000 a year. If married, the couple must have an income in excess of $300,000.
The KODAKCoin ICO will be offered outside the US to “select non-US persons” in accordance with the applicable laws of each jurisdiction. This means if you are domiciled outside the US you may be able to participate with a less restrictive criteria than US citizens.
KODAKCoin is a seminal event in the ICO industry as it is indicative of emerging interest of former corporate titans to embrace the growing landscape of digital assets. KODAKCoin is designed for photographers to utilized a Blockchain powered platform to receive payment for licensing their work immediately upon sale, receive a share of overall platform revenue, and for both professional and amateur photographers, sell their work. KODAKCoin expects to trade on tZero once the token is issued.
KODAKCoin has also issued a cautionary note that bogus KODAKCoin websites and Facebook pages have cropped up. Some even claiming to sell the token. Spam or fraud driven sites in the ICO space is pretty much a given these days. KODAKCoin advises all individuals there is only a single official KODAKOne and KODAKCoin Facebook page and official ICO website.
Approved investors may expect to receive an Offering Memorandum at some point in the future.