KODAKCoin Fundraising to Begin Later This Month

A sale of Simple Agreements for Future Tokens for KODAKCoin - the forthcoming digital rights token bearing the name of imaging company Kodak - is set to begin later this month.

The offering, which is limited to accredited investors, will start on May 21, WENN Digital announced on Thursday.

Kodak licensed its brand to the firm for the project, which involves a digital rights management platform that has its own built-in cryptocurrency.

KODAKCoin and its planned sale were first revealed in January, but an expected start date of Jan. 31 was delayed for what was originally said to be a several-week period.

The SAFTs are being sold at $1 apiece, according to WENN. The company's intention to sell SAFTs rather than tokens directly was revealed in a paper published back in March.

In a SAFT sale, no tokens are offered, sold or exchanged - instead money is exchanged for paper documents that promise access to a future product.

WENN said the sale will be conducted through a platform called Cointopia and that it will be managed by Pickwick Capital Partners and Exemplar Capital.

"Our goal with this offering is utmost security and transparency, working to bring digital tokens to investors by adhering to industry best practices and in a manner that we hope instills public confidence in the crypto space."

The sale announcement comes days after a cryptocurrency exchange claimed that it was hosting the KODAKCoin ICO, an assertion that a representative for KODAKCoin called "Fraudulent."

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