An ICO is like an IPO except that instead of buying shares in a company, investors purchase crypto-currency–in this case, KodakCoin.
And, like an IPO, most folks are unlikely to have the requisite cheddar to buy in.
In an email sent out to prospective investors, Kodak said the ICO would only be available to “any natural person (i) whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or (ii) who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year).”
According to Kodak, over 40,000 potential investors have signaled interest in KodakCoin, which will be the medium of exchange on KodakOne’s blockchain-based image rights management platform.
Don’t Miss: What Photographers Need to Know About Blockchain