Shares of Global Blockchain Technologies Corp. soared Wednesday, after the Canada-based and blockchain investment company said it was the “lead investor” in KodakCoin, an initial coin offering (ICO) that Eastman Kodak Co. plans to launch. Global Blockchain U.S.-listed over-the-counter shares jumped 24%. The company said it has invested $2 million in KodakCoin, which Kodak and its licensing partner WENN Digital described as a “photo-centric cryptocurrency that empowers photographers and agencies to take greater control in image rights management.” Global Blockchain said it has subscribed for all 8 million KodakCoins that were available in the pre-ICO Stage I. “The KodakOne ICO is very compelling and fills the need for managing and monetizing digital assets globally,” said Global Blockchain President Shidan Gouran. “Given the size of the marketplace, the people involved and technology partnership, this has the opportunity to be a very large and active community.” Kodak’s stock soared 60% in morning trade, and was the most actively traded on major U.S. exchanges with volume of 48.7 million shares. That follows the 119% surge on Tuesday, after the troubled camera and film pioneer announced a “major blockchain initiative.” Global Blockchain’s stock has tumbled 36% over the past three months, while the S&P 500 has gained 7.6%.
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