Kodakcoin sees former film giant join crypto craze

Published January 09, 2018, 1:15 p.m. EST

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Updated January 09, 2018, 4:05 p.m. EST

1 Min Read

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Kodak’s latest moment has it joining the cryptocurrency frenzy.

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Shares in Eastman Kodak Co. jumped as much as 77 percent after the former camera and film heavyweight said it would launch the Kodakcoin, “a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”

The move comes as investors snap up virtually any asset related to digital coins or the blockchain technology that underpins them — no matter how tenuous the tie. Microcaps previously involved in sports bras, fruit juices and teas have made the move and been rewarded with spikes in their share prices.

Kodak signage — An Eastman Kodak Co. logo hangs above the company's booth at the 2012 International Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Thursday, Jan. 12, 2012. The 2012 CES trade show features 2,700 global technology companies presenting consumer tech products and is expected to draw over 140,000 attendees. Photographer: Bloomberg/Bloomberg

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