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KODAKCoin to Bring Cryptocurrency to Six Major NBA and NHL Arenas in the U.S.

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by Polina Chernykh · 3 min read
KODAKCoin to Bring Cryptocurrency to Six Major NBA and NHL Arenas in the U.S.
Photo: Bitcoin Analiz / Flickr

With Kodak’s new blockchain platform, sports fans will be able to get rewards in digital currency for sharing their photos taken at live events.

Kodak, together with its licensed partner WENN Digital has teamed up with Oak View Group (OVG) to make its KODAKOne platform and KODAKCoin cryptocurrency available at six OVG Arena Alliance venues, which include two NHL teams and four NBA teams.

Starting next season, more than 10 million fans and event attendees each year will be able to upload and register their photos and videos via Kodak’s image rights management platform and get compensation for them in KODAKCoins.

The six arenas include the Minnesota Wild’s Xcel Energy Center, the New Jersey Devils’ Prudential Center, the Sacramento Kings’ Golden 1 Center, the Antonio Spurs’ AT&T Center, the Indiana Pacers’ Bankers Life Fieldhouse, and the Phoenix Suns’ Talking Stick Resort Arena.

“We want to introduce the KODAKOne Platform to a creative audience that we believe will both benefit from its functionality and serve as early adopters,” said WENN Digital’s CEO, Jan Denecke. “The KODAKOne Platform is being designed specifically to enable users to upload, register and share their work, as well as be compensated for it in certain instances. Given the millions of fantastic live event photographs generated each year at OVG’s Arena Alliance venues, this was a natural place for us to start.”

“Mobile devices have transformed fans of professional sports and live events into some of our most talented content creators, and have enabled an unprecedented level of engagement for arena operators,” said Dan Griffis, President of OVG Global Partnerships.

The companies are going to develop a platform to enable users spend their KODAKCoin tokens for a wide range of arena and product promotions. The venues will also cooperate with WENN Digital to register their own content to be protected on the KODAKOne platform.

According to Benedikt Dohnanyi, CCO of WENN Digital, the deal will provide an “access to the world of sports and entertainment”, which are two of the most publicly followed industries.

“Through the KODAKOne Platform, we are creating a new way for fans to further engage with the teams and performers they follow, all while rewarding their creative drive by building an environment where their images can be securely maintained,” Dohnanyi said.

Six years ago, Kodak had to file for bankruptcy despite its struggle to embrace the digital innovations. In the 1990s, the company refused to invest in the digital camera developed by one of its engineers few years earlier, what eventually led to the company’s crisis. Following decades that appeared difficult for the company, Kodak is now actively leveraging the blockchain technology to transform its business and even launched an ICO a few months ago.

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