KODAKCoin Fundraising to Begin at the End of May

Only accredited investors can participate in the sale of SAFTs
10 May 2018   613

The sale of SAFT-contracts for KODAKCoin tokens - a digital currency intended for copyright protection, will start on May 21, CoinDesk reports.

Only accredited investors can participate in the sale of tokens. WENN Digital received a license from Kodak to use its brand in KODAKCoin. It is expected that KODAKCoin will act as its own crypto currency platform for copyright management.

According to WENN, SAFT-contracts will be sold at $ 1 per piece. The intention of the company to sell the SAFT-contracts, and not the tokens themselves, was said in the document on the forthcoming sale, which was published in March.

SAFT-contracts are investment contracts intended for sale to accredited investors to finance the development of a project, in the same way as shares in enterprises pass from one source to another when working with traditional venture capital. Thus, not tokens themselves are sold, offered and exchanged, but documents promising access to future products.

According to WENN, the sale of SAFT-contracts will be carried out through the Cointopia platform under the management of Pickwick Capital Partners and Exemplar Capital.

We are excited to offer the SAFTs and the rights to the underlying KODAKCoin in a manner structured to fully comply with an exemption to the SEC's registration requirements. 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.
 

Jan Denecke

CEO, WENN

About a week ago, the Hong Kong crypto exchange LBank.io announced that it would be engaged in the ICO for KODAKCoin, but one of the representatives of the project called the initiative a fraud.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.