Kodak says over 40,000 investors are interested in its cryptocurrency
In a statement released today, Kodak said more than 40,000 potential investors are interested in the company's recently announced KODAKCoin Initial Coin Offering (ICO). The cryptocurrency was introduced in early January alongside the company's new KODAKOne blockchain-based image rights platform for photographers.
Of course, it's not really Kodak's cryptocurrency, just cryptocurrency with the Kodak name attached, but you can read about all that below before moving on.
Ready to move on? Okay.
The company explains that it is beginning an "accredited investor" phase for KODAKCoin that will verify the status of the investors who have expressed interest in Kodak's cryptocurrency. This won't be a rapid process, though, and Kodak expects the verification phase to take several weeks.
The company explains that an accredited investor status is dependent on the potential investor's income, requiring an individual or couple to have a net worth greater than $1 million or requiring a minimum 2-year history of income exceeding $200k a year ($300k for couples). The ICO will also be available to "select non-US persons."
In short: if you thought (or hoped) this whole Kodak Cryptocurrency thing was just a marketing stunt to help juice the stock and get people talking, it doesn't look that way.