No, it’s not April 1st, and you did read that correctly. Film legend Kodak has announced KODAKCoin, a new photo-centric cryptocurrency, along with a new image right management platform called KODAKOne.

KODAKOne uses blockchain technology to create an encrypted digital ledger of rights ownership for photographers.

Photographers can then register their new and archived work which they can then license within the KODAKOne system.

Where KODAKCoin comes in is when photographers license their work within the platform, the cryptocurrency enables them to receive immediate payment for their work.

What’s more, the KODAKOne platform promises to crawl the internet searching for violations of your intellectual property and any images registered within the platform. If it finds a violation, Kodak manages post-licensing process.

“Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KODAKCoin,” said WENN Digital CEO Jan Denecke. WENN partnered with Kodak in the development of the platform and blockchain technology.

Kodak says the platform is open to investors in the US, UK and Canada, along with other select countries, from 31 January.