KODAKCoin Fundraising to Begin Later This Month

A sale of Simple Agreements for Future Tokens (SAFTs) for KODAKCoin – the forthcoming digital rights token bearing the name of imaging company Kodak – is set to begin later this month. The offering, which is limited to accredited investors, will start on May 21, WENN Digital announced on Thursday. Kodak licensed its brand to the firm for the project, which involves a digital rights management platform that has its own built-in cryptocurrency. KODAKCoin and its planned sale were first revealed in January, but an expected start date of Jan.…

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This Blockchain Tosses Blocks: Naval, MetaStable Back Twist on Crypto ‘Cash’

A blockchain without the blocks? Not exactly, but a company launching Wednesday called O(1) is seeking to take the unorthodox approach of throwing out the blocks its new Coda protocol produces as soon as they elapse. While that might seem illogical since blockchain’s immutable history is to many its principal benefit, an impressive line-up of investors believes the idea could be just what cryptocurrency needs. Led by Metastable, AngelList co-founder Naval Ravikant, and Twitter and Google alum Elad Gil, O(1) has secured a $3.5 million seed equity round, with investment from…

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A Chain of Its Own: Mobile App Kik to Fork Stellar for Fee-Free Blockchain

The cryptocurrency that will soon help power the popular Kik messaging app is making a big technology shift — again. Kik’s crypto token, kin, currently exists as an ethereum-based ERC-20 token, yet CoinDesk recently reported that’d the company would be moving to a two-chain system whereby its tokens were supported on both the ethereum blockchain and the stellar blockchain. But today, the Kin Foundation, the non-profit organization managing the development of kin, has announced another move, deciding instead to fork stellar to create its own blockchain. While Kik had first envisioned…

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EOS Revisited: Investors Are Taking Another Look at the Longest-Running ICO

Another blockchain for smart contracts? As surprising as it might sound, there’s a respect for incumbency even in the world of cryptocurrencies. As such, when the upstart EOS protocol launched last year with the ambition of improving on innovations like ethereum (themselves just a few years old), incredulity was in ample supply. Intervening months haven’t exactly helped this perception. But despite the skeptical experts, not to mention the very public derision of talk show host John Oliver, the EOS project has raised more than $2 billion in ether from the sale of…

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The Mystics May Be Here, But Are Crypto’s Cards in Reverse?

There’s a man and a woman dancing beneath a lush wreath held up by four wands, crystals protruding from their tops. “It’s a good card to pull.” The Four of Wands. In front of me – my life – there’s good times, happiness, good fortune. Reading from an online tarot card symbology site, my friend and tonight my forecaster says, “If you have been working on a project, this card indicates you will reach an important milestone and will have cause to celebrate. You have completed a significant phase of…

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Fraudsters Take Aim at Investors in Controversial KodakCoin ICO

A representative for the company behind the long-in-the-making KODAKCoin initial coin offering (ICO) has accused a Hong Kong-based cryptocurrency exchange of “fraudulent” behavior by claiming that it will host the token sale. According to a page on the Hong Kong-based exchange LBank.io, the platform’s ICO section said it is about to open the KODAKCoin token sale on Friday, May 4 at 20:00 Beijing time, or 12:00 UTC, which will end at the same time on May 11. But platform behind the digital rights management-focused coin first unveiled in January says that…

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These ICO Investors Are Getting Their Money Back – And It’s Not Clear Why

Regulatory uncertainty appears to be arriving late to Washington state. In what seems like the latest sign concerns are impacting initial coin offerings (ICOs) broadly, Seattle-based Dragonchain is forcing one of its affiliate projects, Norwegian startup Iagon, to return funds it raised from investors back in April - and it’s currently unclear why. In fact, on April 28, the day its presale was scheduled to end, Iagon published a Medium post explaining to investors that the sale had been paused. Notably, it wasn’t Iagon’s idea; the company had recently joined an incubator…

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The SAFT Is Alive But Who Knows How Well

Risky and rational. That about sums up the state of U.S. token sales in the wake of new dialogue on whether the mechanism, by which startups are issuing custom cryptocurrencies to raise funds, is compliant with the law. Lost in the dialogue, however, has been that there are many more specific types of token sales. In fact, when developers have an idea for a distributed project, they often raise money with what’s come to be called a “simple agreement for future tokens” or a “SAFT.” (A method that’s often synonymous with…

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Compliant Airdrops Are Here: CoinList to Offer Investors Free Crypto Giveaways

Who’d have thought giving something away could be so complicated? That’s the question crypto innovators have had to come to terms with since the concept of “airdrops” – or the practice of gifting tokens in massive giveaways – has come under the scrutiny of government regulators. But with the launch of a new product Wednesday, CoinList, an initial coin offering (ICO) facilitator spun out of the renowned startup incubator AngelList, is looking to streamline the process of airdrops in a way that doesn’t run afoul with the law. Aptly named Airdrops, the…

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