Wenn Digital Secures Funding for Revolutionary Copyright Protection Platform KODAKOne

Wenn Digital, a developer of a blockchain platform for image protection licensed by Kodak, intends to raise up to $50 million in a combined token offering. The KODAKOne platform aims to safeguard image copyright, and Kodak holds a minority stake in Wenn Digital. The token offering, initially set for January, was delayed due to regulatory concerns and will now utilize a Simple Agreement for Future Tokens (SAFT) structure, ensuring legal compliance with the U.S. Securities and Exchange Commission.

Wenn Digital Secures Funding for Revolutionary Copyright Protection Platform, KODAKOne

New York, May 10, 2018 - Wenn Digital, the innovative blockchain company partnering with Eastman Kodak Co. (KODK), has announced its groundbreaking public and private token offering, aiming to raise up to $50 million for the development and launch of its transformative platform, KODAKOne.

KODAKOne, a secure and transparent blockchain-based platform, is poised to revolutionize the protection of digital images and photographs. Its mission is to empower creators and photographers by preserving their copyright and ensuring their intellectual property rights.

Powered by blockchain technology, KODAKOne will establish an immutable record of image ownership and distribution, providing irrefutable evidence of authenticity and usage. This groundbreaking platform will empower photographers to control the dissemination of their work and monetize their creations with unprecedented transparency.

Kodak, a renowned pioneer in the photography industry, has played a pivotal role in the development of KODAKOne alongside Wenn Digital. The company's involvement underscores the immense potential of blockchain technology to transform the digital media landscape.

"We are excited to support the development of KODAKOne, which has the potential to revolutionize the way photographers protect and share their work," said Jeff Clarke, CEO of Kodak. "Blockchain technology offers a secure and transparent solution that can empower creators and transform the copyright landscape."

The public token offering for KODAKOne's native token, KODAKCoin, is scheduled for May 21st. Initially slated for January, the offering was strategically delayed to ensure full compliance with regulatory requirements.

"We recognize the importance of regulatory compliance and have taken the necessary steps to ensure that our token offering is legally sound," stated Cam Chell, Chairman and Co-Founder of KODAKOne. "We are confident that KODAKCoin will be a valuable asset for photographers and the wider creative community."

KODAKOne's token offering will be conducted using a SAFT (Simple Agreement for Future Tokens) structure, which is compliant with U.S. Securities and Exchange Commission (SEC) regulations. This structure limits participation to accredited investors, alleviating the need for SEC registration.

"SAFT offerings provide a viable mechanism for token sales by limiting participation to accredited investors, who possess the necessary sophistication to understand the risks involved," explained Chell.

The SAFT structure has proven successful in the past, most notably with Filecoin's offering in August and September 2017, which generated approximately $200 million.

Wenn Digital has already conducted a pre-sale of its SAFT to accredited investors, securing approximately $10 million. Anticipating strong demand, the company has set a fundraising target of $50 million.

"We believe that $50 million is an optimal capital requirement to fully develop and launch KODAKOne, providing the platform with the resources it needs to succeed," said Chell.

KODAKOne is poised to disrupt the digital media industry by providing photographers with a secure and transparent platform to protect and monetize their work. With its innovative blockchain-based solution, KODAKOne empowers creators, revolutionizes copyright protection, and ushers in a new era of digital ownership and control.