ICO represents last-gasp hope for struggling Kodak

Shares more than doubled

Shares in photography company Eastman Kodak soared more than 120 per cent today after it announced plans to mint its own crypto-currency, the KodakCoin.

The US firm said it was teaming up with London-based Wenn Media Group to carry out the initial coin offering (ICO).

Following the announcement, the company’s shares traded more than 130 per cent above their opening price.

This Blockchain-based initiative, the technology seen in Bitcoins, aims to help photographers control their image rights.

The 129-year-old firm is the latest in a series of companies to see its value jump after revealing plans for blockchain-related activity.

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