Creatd Inc. ($CRTD) and BCII Enterprises, Inc. ($BCII) Execute Joint Venture LOI

Rhea-AI Summary

Creatd (CRTD) and BCII Enterprises (BCII) have entered a joint venture agreement, with Creatd holding a 51% stake. The partnership aims to develop a technology platform that allows users to monetize their personal data. Creatd will leverage its nearly 2 million creators from its Vocal platform, reaching an audience of 200 million. The new platform is expected to enhance data privacy options and generate revenue through user data. The launch is anticipated later this year, facilitating potential revenue streams and shareholder benefits, including possible share spin-offs for CRTD shareholders.

Positive

• Creatd holds 51% stake in the joint venture, enhancing control over operations.
• Expected access to nearly 2 million creators and a 200 million audience through Vocal.
• Joint venture aims to generate new revenue streams through user data monetization.
• Potential share spin-offs for CRTD shareholders could enhance shareholder value.

Negative

• None.

• The jointly owned technology platform is in early stages of development.
• Creatd will be contributing access to its nearly 2 million Vocal and Vocal+ creators reaching an audience of 200m from its flagship social media product Vocal.
• BCII and Creatd are committed to protect data privacy and provide platform solutions for users to monetize their most valuable asset.

NEW YORK, March 28, 2023 /PRNewswire/ -- Creatd, Inc. $CRTD ("Creatd" or the "Company"), the parent company of Vocal, today announced it has signed a Joint Venture LOI with BCII Enterprises Inc., with Creatd controlling 51% and BCII controlling 49% of the jointly owned technology platform. The platform will leverage BCII's YOURINFO.com technology and empower individuals to monetize their personal data and make informed decisions about its use.

BCII's product YOURINFO.com's expertise in data privacy and security solutions will be leveraged to potentially offer users different levels of protection at varying costs. Users can opt-in to selling specific data to companies. This opportunity can take place in multiple ways, from a simple opting-in to being paid for taking quizzes and completing surveys. The revenue generated for the platform will depend on market demand, competition, and development costs. A commission of 10-30% is typically charged on revenues generated from data protection platforms. The future platform offers a significant opportunity to generate new revenue streams for both companies while providing value to users. The jointly owned technology platform is expected to launch later this year, and further updates will be provided in due course.

"We are excited to partner with BCII to create a platform empowering individuals to control and monetize their data while offering data privacy solutions. With our expertise, we can generate new revenue streams for both companies. In addition to the fundamental opportunity, the potential to spin-off shares of the CRTD/BCII JV directly to $CRTD shareholders creates another corporate action in our ongoing battle against the shorts. Updates on the joint venture's progress will follow," said Jeremy Frommer, CEO of Creatd, Inc.

About Creatd

Creatd, Inc. ($CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.

Creatd: https://creatd.com;

Creatd IR: https://investors.creatd.com;

Vocal Platform: https://vocal.media;

Investor Relations Contact: ir@creatd.com 

About BCII Enterprises Inc.
BCII Enterprises, Inc. ($BCII) and its acquired product YOURINFO.com is a leading provider of data privacy and security solutions, helping individuals and businesses protect their personal and sensitive information. With a focus on education and awareness, YOURINFO.com is committed to helping people take control of their online identity and stay safe online. For more information, visit BCII Enterprises at https://bciienterprises.com/.

Forward-Looking Statements

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SOURCE Creatd, Inc.

FAQ

What is the joint venture between CRTD and BCII about?

The joint venture focuses on creating a technology platform for monetizing personal data, with a commitment to data privacy.

When is the expected launch date for the joint venture platform?

The jointly owned technology platform is expected to launch later in 2023.

How much of the joint venture does CRTD control?

Creatd controls 51% of the joint venture.

What revenue opportunities does the joint venture present for CRTD and BCII?

The venture aims to tap into user data monetization, potentially generating new revenue streams.