The KODAKOne PLP has generated over 1,600 new cases since October, driving the future of image licensing
LOS ANGELES, Jan. 09, 2019 (GLOBE NEWSWIRE) -- ICOx Innovations Inc, (TSXV and OTC: ICOX) (the "Company" or "ICOx Innovations”), which designs and creates blockchain economies for established companies to benefit and grow their businesses through blockchain technologies and branded cryptocurrencies, announced today that its client, the blockchain-based KODAKOne Image Rights Management Platform and the KODAKCoin cryptocurrency, has generated post-licensing cases valued at over $1M since the Post-Licensing Portal component of the KODAKOne Platform went live in private beta in October 2018.
The KODAKOne PLP has already generated 1,667 new cases since its beta launch in October. Executives from ICOx Innovations, KODAK and KODAKOne’s creator RYDE Holding, Inc. are attending CES, where the intention to build the KODAKOne platform was first announced, to celebrate this milestone. Under the guidance of ICOx Innovations, the platform is positioned to be a leading service provider to the image industry with the goal to help agencies and photographers protect their work, increase image sales and ensure they are fairly compensated. The beta platform is currently operational and being used by agencies including Blaublut Edition and Food Centrale, as well as numerous photographers, with multiple international customers in the pipeline for the next phase of deployment.
“Real-world use cases are critical to widespread adoption of blockchain and cryptocurrency solutions, and these early successes will pave the way for the broader rollout of the full KODAKOne platform,” said Cameron Chell, Chairman of ICOx Innovations, which helped create and launch KODAKOne. “We hope these accomplishments will serve as proof points for big brands curious about these technologies’ ability to improve their businesses and customers’ experiences.”
The KODAKOne PLP utilizes artificial intelligence powered web crawler and image-recognition technology to offer photographers and rights-holders dependable and trustworthy online image-usage tracking. This is coupled with a positive and user-friendly approach to help convert infringers into customers. The portal gives rights infringers a simple step-by-step process to make it easy to license image usages retroactively and avoid unnecessary legal disputes.
As a business partner and equity stakeholder in the company, ICOx Innovations assists RYDE Holding with developing and integrating KODAKOne’s blockchain and cryptocurrency technologies, as well as strategy and corporate business development offerings related to KODAKCoin and the KODAKOne platform. RYDE Holding has a brand licensing agreement with the iconic imaging technology company to use the Kodak brand in connection with the KODAKOne platform and KODAKCoin.
“In the current unregulated media landscape, photographers are unable to control the use of their assets or the context in which they are seen,” said Jan Denecke, CEO of RYDE Holding. “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.”
While the KODAKOne PLP protects image creators’ rights today, the distributed ledger technology that KODAKOne is developing will expand efforts to prevent infringement of many kinds of digital assets in the future. The blockchain registry will immutably store more relevant information associated with an image with a smart contract-based registration. Records on the blockchain are tamper-proof, providing undeniable claims to ownership. All intellectual property such as personality rights, property rights, licensing rights, and brands can be managed by the platform in the near future. Other blockchain projects will be able to join the KODAKOne platform to protect their assets in a similar way, while they are connected.
With ongoing assistance from ICOx Innovations, the KODAKOne platform is planned to be launched and fully operational in 2019.
About ICOx Innovations
ICOx Innovations is positioned for the long term as an enterprise platform for building blockchain economies for established brands. ICOx Innovations provides a platform for the design and creation of crypto economies that solve real-world problems with established organizations. ICOx Innovations provides operational insights intended to benefit and grow its customers’ businesses through the use of blockchain technology and cryptocurrencies. The ICOx Innovations platform is compliance-driven and combines rigorous strategic planning, capital structuring, technical integration and token economics model development, designed to allow its clients to create sustainable economies. The ICOx Innovations team co-founded KODAKOne, a blockchain-based image-rights management platform, and is the co-architect of KODAKCoin, the token that will reward and incentivize the KODAKOne platform users. Notably the Honorable Edmund C. Moy, 38th Director of the United States Mint (2006-2011) and the Honorable Alphonso Jackson, Former US Cabinet Secretary & Former Vice-Chair of JP Morgan Chase are members of the ICOx Board of Directors, For more information on ICOx Innovations, go to: www.icoxinnovations.com.
Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@icoxinnovations.com
Media Contact
ICOx Innovations
Arian L. Hopkins
Communications, ICOx Innovations
arian@icoxinnovations.com
Investor Inquiries
Phone: 424-570-9446 ext 8
ir@icoxinnovations.com
About RYDE Holding, Inc.
RYDE Holding, Inc. (formerly WENN Digital, Inc.), a brand licensee of Eastman Kodak Company, is the creator and operator of the KODAKOne Platform and the KODAKCoin Tokens. RYDE and its advisors are an experienced development and operations team with expertise in proprietary blockchain development, big data, copyright law, AI-enabled image recognition and post-licensing monetization systems. For more information, go to kodakone.com.
Disclaimer ICOx Innovations (“Company”) for Forward-Looking Statements
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the statements: that under the guidance of ICOx Innovations, the platform is positioned to be a leading service provider to the image industry with the goal to help agencies and photographers protect their work, increase image sales and ensure they are fairly compensated; that there are multiple international customers in the pipeline for the next phase of deployment; that the early successes will pave the way for the broader rollout of the full KODAKOne platform; that the Company hopes these accomplishments will serve as proof points for big brands curious about these technologies’ ability to improve their businesses and customers’ experiences; that this is just the beginning of the KODAKOne platform’s exciting future, which will be enriched by the incorporation of the blockchain; that the distributed ledger technology that KODAKOne is developing will expand efforts to prevent infringement of many kinds of digital assets in the future; that all intellectual property such as personality rights, property rights, licensing rights, and brands can be managed by the platform in the near future; that other blockchain projects will be able to join the KODAKOne platform to protect their assets in a similar way; and that the KODAKOne platform is planned to be launched and fully operational in 2019.
The material assumptions supporting these forward-looking statements include, among others, that there will be no material variations in current regulatory environments in which the Company or its clients operate; the Company’s operating expenses, including general and administrative expenses, will be as expected; the Company will be able to obtain any necessary financing on acceptable terms; that the Company will be able to retain and recent the of skilled personnel necessary to complete its projects. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company will be unable to efficiently manage the Company’s operations, including the project for KODAKOne; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete its projects; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs; the risk the cryptocurrency and other trading platforms are relatively new, largely unregulated and may not be accepted by the public as a payment platform; the risk that the platform of the Company’s clients may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain and cryptocurrencies that make the Company’s projects obsolete; risks relating to regulatory changes or actions which may impede the Company’s ability to complete its projects; the risk that other competitors may release platforms similar to those of the Company’s clients; and other general risks involved in the cryptocurrency industry. Any of these risks may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.