PR Newswire
- Creatd to spin off its media library and NFT-related businesses into separately traded OTCQB stock.
- Intellectual property and Web 3.0 assets have been appraised at $7-10MM and are currently undergoing an updated valuation by experts in the archival field.
NEW YORK
, Sept. 28, 2022 /PRNewswire/ — Creatd, Inc. (OTCQB: CRTD) (“Creatd” or the “Company”), the parent Company of the OG Collection, Inc. today released its investor deck in preparation for spinning off its media archive, intellectual property, and other assets including its NFT library and Web 3.0 business division into a separately traded OTCQB stock.
The OG Collection features published and unpublished content surrounding the landmark events and famed figures of the 20th century, providing a unique view into the cultural zeitgeist then and now. An Authentication and Appraisal of Artworks (performed in 2016), focused on the value of the photographs and artworks in the collection, attached a value of nearly $10MM.
The Company is undergoing an updated appraisal by experts in the field in preparation of the Spinoff. A strong community of enthusiasts, collectors, archivists, and others have nurtured the OG Collection’s intellectual and business value over the last eight years. Having successfully conducted over 100 auctions, OG Collection has amassed a powerful foundation of first-party data which works to further elevate the value of the assets.
Commented Creatd CEO and Chairman Jeremy Frommer, “The release of today’s presentation, which will also be filed as an 8-K, allows us to make progress on the monetization of one of Creatd’s most valuable assets. As part of the company’s overall reorientation, we are spinning off non-core assets and intellectual property. Our business divisions are well-positioned to be individually spun out due to their maturity and Creatd’s ability to maintain a service-level relationship with them is similarly well-positioned. We have assembled a great team to support the OG Collection and expect to extract additional value from the strong underlying business components embedded in the collection—including the development of Web 3.0 assets, NFT collaborations, and media and production endeavors. This is a company that should be worth fundamentally far more than just the physical value of its components and we will continue to progress the Company’s strategic plan to navigate today’s market conditions.”
Please find the OG investor deck here.
Creatd, Inc. (OTCQB: 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: [email protected]
Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.
View original content to download multimedia:https://www.prnewswire.com/news-releases/creatds-og-collection-inc-updates-market-on-planned-spin-off-of-its-physical-media-library-and-web-3-0-assets-301635346.html
SOURCE Creatd, Inc.
