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Alonso Chooses KodakCoin for Image Rights

Alonso Chooses KodakCoin for Image Rights

in Bitcoin & Cryptocurrency published on 4, July 2018

Fernando Alonso has become the latest high profile sports personality to get behind blockchain technology, following his decision to turn to KodakCoin for managing his image rights.

The two-time world champion, and one of the most recognizable faces in motorsports, announced he was partnering with Kodak and WENN Digital, who developed the technology, to control his image rights through the KodakCoin initiative, covering both personal images and videos of Alonso.

According to a press release announcing the decision, their KodakONE system will become “the exclusive image registration, protection and license-monitoring solution” for Alonso’s images and videos. The system will allow his fans to access the platform, which is not live yet, to upload, register and protect their photos and videos of Alonso while being rewarded.”

In explaining his decision to sign with KodakONE, Alonso said he welcomed the chance to reward both fans and professional photographers for capturing images and videos of him.

“We live in a world driven by content distribution across different channels, especially during such large events as F1 and WEC. I’m very excited to know that I have the ability to reward my fans and professional photographers for their creativity, and that the content they produce can be protected by a single platform.”

The signing is arguably the highest profile sportsperson to date to sign up with KodakONE and the KodakCoin system, which specifically provides for commercial image rights management via the blockchain.

Powered by the same underlying technology as cryptocurrencies like bitcoin and ether, KodakONE allows fans and professional photographers to capture and upload content to the blockchain. From there, they can be rewarded for their submissions, based on their rights in the images and videos created.

This also applied to athletes and personalities in managing image rights, with the blockchain providing a traceable platform for recording rights ownership in visual media. The KodakCoin is envisaged as the platform’s currency, allowing for rights to be traded and for creators to get paid.

The technology has already been trialled at sports stadiums across the United States, and is being seen as a potentially significant development in the field. With Fernando Alonso now on board, KodakONE has taken arguably its most significant leap into the mainstream to date.