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Creatd, Inc. (OTCQB: CRTD) is a leading innovator in digital technology and creator-centric platforms based in the United States. The company provides an array of tools and curated communities to assist creators, from bloggers to podcasters, in effectively monetizing their content. By enabling creators to connect with their ideal audiences and partner with relevant brands, Creatd fosters a robust ecosystem for storytelling and content creation.
The company has recently embarked on a strategic initiative to acquire TAMI Ventures Inc., marking a significant expansion in their portfolio. The proposed acquisition, set to be completed through an all-preferred shares transaction, aims to integrate TAMI Ventures' extensive portfolio of proprietary technology platforms, which include social media, sports betting, fantasy sports, eSports, and more. This merger not only broadens Creatd’s technological assets but also positions the combined entity to tap into the burgeoning sports betting market.
In 2023, the sports betting sector in the United States saw a record $119.84 billion wagered, highlighting its rapid growth and potential. Leveraging TAMI Ventures' capabilities, Creatd plans to introduce an innovative gaming social media platform that will empower digital influencers and content creators. This initiative is expected to generate significant growth synergies and enhance Creatd’s market presence.
Financially, Creatd is demonstrating strong resilience and strategic foresight. Following a reverse stock split, the company saw a 300% increase in valuation and eliminated nearly $1M in payables. The impending Schedule 13G filings by major investors, who control approximately 22% of Creatd’s publicly traded shares, reflect strong investor confidence and a commitment to the company’s growth trajectory.
Despite facing challenges such as delayed financial filings, Creatd remains focused on enhancing its net equity and cash reserves. The company anticipates releasing its 10-K report and Q1 financial filings in mid-2024, underscoring its commitment to transparency and robust financial health. Moving forward, Creatd aims to achieve uplisting to a national exchange, further solidifying its market position and shareholder value.
Jeremy Frommer, CEO of Creatd, Inc., emphasizes the company's dedication to building a diversified portfolio of leading-edge tech and media assets. The continued expansion of Vocal, a 100% owned social media technology platform subsidiary, along with strategic acquisitions, underscores Creatd's commitment to growth and innovation.
Creatd, Inc. (Nasdaq: CRTD) has successfully settled a dispute from June 2020, paying a total of $799,000, which includes $660,000 of principal and $139,000 of accrued interest. This settlement reduces the interest rate to approximately 15% annually. The principal was previously placed in escrow on January 25, 2021. Executive Chairman Jeremy Frommer expressed satisfaction with the resolution, thanking legal teams and the plaintiff for their cooperation.
Creatd, Inc. (Nasdaq CM: CRTD) announced the closing of a $2.5 million capital raise, led by Executive Chairman Jeremy Frommer, who invested $315,000 at $1.75 per share. This insider financing includes participation from the management team and long-term shareholders, with no associated banking fees. The company also relocated its headquarters to New York City, aiming to leverage the local talent market and contribute to the city's economic recovery. The financing will include registration rights for investors, with necessary filings expected shortly.
Creatd (Nasdaq CM: CRTD) announced leadership changes aimed at positioning the company for future growth. Effective February 17, 2022, Jeremy Frommer has transitioned from CEO to Executive Chairman, while Laurie Weisberg has been appointed sole CEO. The new independent board includes experienced members specializing in digital strategy, e-commerce, and finance, such as Joanna Bloor and Brad Justus. The restructured board aims to refine strategies for enhancing Creatd's success within the creator economy, leveraging their extensive networks and operational insights.
Creatd, Inc. (Nasdaq CM: CRTD) announced the launch of updates to its Vocal platform aimed at enhancing creators' discoverability and engagement. The updates include an improved Vocal Profile, exclusive features for Vocal+ subscribers, and a messaging feature to connect creators with their audiences. Over 1.4 million creators are expected to benefit from these enhancements as the company strives to make Vocal a central hub for creators. Creatd's co-founder highlighted the goal of fostering deeper connections and monetization opportunities for users.
Creatd, Inc. (Nasdaq CM: CRTD) announced the launch of WHE Agency's redesigned website, marking significant growth post-acquisition. WHE has expanded its talent pool by 85%, signing new influencers in various verticals, including music and cannabis wellness. The agency has also increased its collaborations with major brands like Procter & Gamble and Target, along with tripling its internal team. Creatd's co-CEO expects revenue growth to exceed initial forecasts, leveraging opportunities across its four business pillars.
Creatd, Inc. (Nasdaq CM: CRTD) has launched a new monetization feature called Pledges for its Vocal platform, enabling creators to receive recurring payments from their audience. This initiative aims to boost revenue streams for both creators and the company, with Creatd earning a 10% fee on transactions. The release comes after insights from interviews with creators highlighted a demand for reliable income sources and more direct engagement with audiences. Creatd's strategy focuses on enhancing Vocal's value while supporting over 1.2 million creators.
Creatd, Inc. (Nasdaq CM: CRTD) announced the successful conclusion of its third NFT art auction featuring pop icon Madonna, held on December 15, 2021. All 10 photographs sold during the two-hour auction, accumulating over 150 bids, with an average sale price of approximately $240 each. The auction attracted significant participation, and 80% of the NFTs were purchased by unaffiliated individuals. Following this success, the company has initiated a new auction for the 'Trump Pictures' NFT, starting at $100.
Creatd, Inc. (Nasdaq: CRTD) announced a joint venture with Chef Marq and Kim Stetz to enhance Creatd Studios as a multimedia production hub. The collaboration aims to share Chef Marq's inspiring story of personal transformation through various storytelling platforms, including podcasts and documentaries. The joint venture will emphasize community service, focusing on educational opportunities in food and cooking for formerly incarcerated individuals. This initiative aligns with Creatd's mission to empower creators through technology and partnerships.
Creatd, Inc. (Nasdaq CM: CRTD) announced plans for a film adaptation of the autobiography No One's Pet, co-authored by Sheila Kennedy and Glenn Kenny. This initiative, produced by Creatd Studios, is part of the company's strategy to leverage its intellectual property and increase its presence in the creator economy. Screenwriter Adam Markovitz has been engaged for the screenplay development. Creatd aims to highlight stories from its creator network, enhancing its project pipeline and furthering its mission to empower creators through innovative media formats.
Creatd, Inc. (Nasdaq CM: CRTD) announced its third NFT art drop featuring iconic photographs of Madonna, originally published in 1987. The NFTs portray Madonna during her time as a dance student in 1977 and are being auctioned via the OG Gallery on OpenSea, with bidding starting at approximately $100. The auction commenced on December 7, 2021, and will last for one week. This initiative follows a public poll revealing that 57% of participants prefer celebrity-focused NFTs, guiding future releases.
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