The collaboration will result in 5000+ additional cases, 75+ new clients and a significant amount of infringement claims for KODAKOne over the next 24 months
Los Angeles, June 25, 2019 (GLOBE NEWSWIRE) -- ICOx Innovations Inc. (“ICOx”) (TSXV and OTCQB: ICOX), which designs, builds and manages digital currencies so organizations can grow their businesses by attracting, engaging and retaining customers through the creation of their own digital currency, announced today that, RYDE Holding Inc., ICOx’s client and the creator and operator of the KODAKOne Image Rights Management Platform, signed a partnership with Image Protect Inc. (OTC:IMTL).
The partnership will integrate Image Protect’s License Recovery Unit with RYDE Holding’s KODAKOne platform which will add thousands of new copyright infringement cases and numerous new digital rights holder clients to the KODAKOne platform. Additionally, this integration will generate a significant amount in infringement claims starting within the next two months.
"This is very exciting news for ICOx Innovations’ client RYDE Holding Inc. This collaboration will result in increases across the board in use cases, new clients and revenues, in addition to extending global services. This is the first in many great partnerships.” noted ICOx Innovations President, Bruce Elliott.
Jan Denecke, CEO of RYDE Holding said “We are very excited about our partnership with Image Protect. Together, we will continue to help protect digital storytellers worldwide. Additional cases provided by Image Protect ultimately compliment and fortify our presence in North America, Europe and SE Asia.”
Matthew Goldman, CEO Image Protect noted, “Through KODAKOne’s global post-licensing service we now extend our service offer to our clients by additionally recovering licenses from new markets such as Europe and SE Asia. This integration provides an opportunity for both the companies to generate and share untapped image infringement claims that will benefit both the companies by generating significant additional revenues.”
The RYDE and Image Protect partnership will be implemented over the coming quarter, with infringement identification, fee collections and revenues targeted to commence in August 2019.
About ICOx Innovations
ICOx Innovations (TSXV and OTCQB: ICOX) creates and manages digital currencies for innovative brands to grow their businesses - attracting, engaging and retaining their customers through the creation and use of their own digital currency. ICOx enables brands to provide additional payment options at lower costs while owning more of the transactional data chain and driving new models for customer loyalty. ICOx leverages its expertise in blockchain technology and regulatory compliance to deliver branded digital currencies for its clients.
For more information on ICOx Innovations, please visit us at: www.icoxinnovations.com. For additional investor info visit www.icoxinnovations.com or www.sedar.com and www.sec.gov searching symbol ICOX.
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.
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
Phone: 424-570-9446 ext. 2
Investor Inquiries
Phone: 424-570-9446 ext. 8
ir@icoxinnovations.com
Disclaimer ICOx Innovations Inc. (the “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 the partnership will integrate Image Protect’s License Recovery Unit with RYDE Holding’s KODAKOne platform which will add thousands of new copyright infringement cases and numerous of new digital rights holder clients to the KODAKOne platform; the integration will generate a significant amount in infringement claims starting within the next two months; the collaboration will result in increases across the board in use cases, new clients and revenues, in addition to extending global services, and will be the first in many great partnerships; the integration provides an opportunity for both the companies to generate and share untapped image infringement claims that will benefit both the companies by generating significant additional revenues; and the RYDE and Image Protect partnership will be implemented over the coming quarter, with infringement identification, fee collections and revenues targeted to commence in August 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 perceived benefits of the RYDE and Image Protect partnership will be as expected; the Image Protect and RYDE Holding will be able to obtain any necessary financing on acceptable terms; that RYDE and Image Protect will be able to successfully integrate Image Protect's License Recovery Unit with RYDE Holding's KODAKOne platform on the expected timeline. 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 Image Protect and RYDE Holding will be unable to efficiently integrate Image Protect's License Recovery Unit with RYDE Holding's KODAKOne platform on the expected timeline; the risk that there may be negative changes in general economic and business conditions; the risk that either party to the RYDE and Image Protect partnership may have negative operating cash flow and not enough capital to complete the integration; the risk that either party to the RYDE and Image Protect partnership may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of the RYDE and Image Protect partnership; 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, such as RYDE, 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 integration of Image Protect’s License Recovery Unit with RYDE Holding’s KODAKOne platform obsolete; risks relating to regulatory changes or actions which may impede the RYDE and Image Protect partnership; 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.