There’s no shortage of critics of cryptocurrencies, but at the same time, there’s no denying that digital currencies and the underlying blockchain technology keep gaining momentum. For example, in what is probably the most high profile example of crypto being used to buy art, part of Andy Warhol’s work is being put up for sale in cryptocurrencies on June 20 by luxury market place Dadiani Syndicate. Now, major sports arenas are getting on board the crypto wagon too.
Thursday morning, Global Blockchain Technologies (CSE: BLCO)(OTCPK: BLKCF) said that the blockchain-based KODAKOne Image Rights Management Platform and the KODAKCoin cryptocurrency have teamed up with Oak View Group, making the platform and digital currency official partners of six Oak View Group Arena Alliance venues.
Global Blockchain Technologies is the lead investor in the KODAKOne platform.
Arenas and teams that are participating in the watershed agreement include AT&T Center (NBA – San Antonio Spurs), Bankers Life Fieldhouse (NBA – Indiana Pacers), Golden 1 Center (NBA – Sacramento Kings), Talking Stick Resort Arena (NBA – Phoenix Suns), Xcel Energy Center (NHL- Minnesota Wild) and Prudential Center (NHL – New Jersey Devils). Cumulatively, these arena host more than 10 million fans each year, all of which will be introduced to the upcoming KODAKOne platform.
KODAKOne is built on blockchain technology that protects, distributes and licenses images, allowing owners to confidently protect their property. For the first time ever, users will be able to take pictures and videos at the venue and immediately upload and register them via KODAKOne.
Per the accord, WENN Digital and the six Arena Alliance members will collaborate to build a platform that allows fans to use KODAKCoin Token for an array of in-venue transactions and promotions.
“Our investment in KODAKOne is progressing to a commercial offering, which should position itself as a dominant force in the digital image economy,” said Shidan Gouran, president and chief executive officer at BLOC in today’s news release.
After enduring a five-month downtrend, shares of BLOC have started to recover the last two months, including climbing from a low of 31 cents on March 28 to a high of 66 cents on April 24. About halfway through the trading session on Thursday, CSE-listed shares were up 5.4% at 49 cents. U.S.-listed shares had inched ahead a penny to 37 cents.
Related Stories
