Cryptospace may be slow to progress – according to some, but developments in blockchain can take a fast trip towards big numbers. As of yesterday, KODAKOne announced that its Post-Licensing Portal (PLP) has generated post licensing cases of over $1 million since its launch in October 2018.
For those of you who may not have come across the name, KODAKOne is the product of partnerships between KODAK, RYDE (previously called WENN Digital) and ICOx Innovations that brings about a solution for a photographers and digital artists long unheard grievance – image infringing.
KODAKOne is an Image Rights Management Platform, that gives photographers and digital artists copyrights for their products – images, in a way that inhibits web surfers to avail copyrighted images free of cost.
KODAKOne stores licensed images in a blockchain database; it uses its AI and image recognition technology, sweeping across the web, looking for images from its databases and copyrights them.
This means that for cases where where a random web surfer could take up a image of a creator for free without the creator intending it to be free get reduced, or at best are eliminated, implying that creators get paid for their products more often. With KODAKOnes cryptocoin, KodakCoin and its use of Ethereums smart contracts, these royalty payments become even easier.
It has had not been long since KODAKOne came in the industry. It started its private beta just 3 months ago, in October 2018, while work on it is being done since last January. In a short amount of time, for which it has gone active, the company has already made $1 million by licencing images in a manner mentioned above (also termed post licensing). KODAKOnes beta version is being used by agencies like Blaublut Edition and Food Centrale along with multiple photographers. For the second quarter of this year, KODAKOnes aims to have over 10 million images licensed in its database.
Gudrun Wronski, CEO of Balublut has said:
“It is incredibly important to Blaublut Edition that we do everything possible to look after our 120 high-end photographers’ portfolios and help grow their sales.”
“The KODAKOne PLP allows us to promote and license our contributors’ images confident in the knowledge that they are being properly protected. Where any of our content is used without an official Blaublut Edition license we know that KODAKOne will track it and collect the post-license fees on our behalf. Not only does this provide essential extra revenue for Blaublut Edition’s photographers but it also opens doors into new markets, clients and territories that could have been left undiscovered without KODAKOne’s involvement.”
while Jan Denecke, CEO of RYDE says:
“In the current unregulated media landscape, photographers are unable to control the use of their assets or the context in which they are seen,”
“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.”
With that, it looks like KODAKOne has won trust of its partners and users giving it another win. As KODAKOne moves into its second year of its development, it plans to expand its licensing to other digital assets, while Ryde plans to issue KODAKCoin once KODAKOne becomes fully operational.