Creatd Chairman Letter
It had become apparent, in the weeks following the announcement of our Rights Offering on May 26th, that the market did not then have an appetite for the transaction we had envisioned. Context is everything and time provides for alternative opportunities. On July 29th, after careful and logical consideration, we announced that we had elected not to proceed with the offering. Since May 26th, CRTD has traded 78MM shares—nearly five times its public float of 17MM. I am confident that I, personally, count nearly half of those holders in my personal network. CRTD has traded from a recent high of $1.50 on May 26th to a historical low of $0.60. All of this has given me more confidence to move forward with our new plan of action. A team like ours must bet against the consensus and be right.
Creatd’s Expansion Plan is Ready for Action
Today marks our most important financial offering as a company since our Uplisting to the Nasdaq in September of 2020. With no long-term debt on our balance sheet and a closing gap between revenue and operational expenses, Creatd’s expansion has reached its moment of inflection.
Introducing the OG Gallery 2.0
One year ago, I published my first article outlining Creatd’s NFT strategy. At that time, it was clear that our investors and other stakeholders were keen on understanding how our creator-first company would capture value in the new digital frontiers of blockchain, crypto, and their derivative technologies (i.e. NFTs, metaverse lands). We spent the intervening months exploring opportunities within the blockchain space, including experimenting with numerous NFT art drops, pursuing the potential integration of cryptocurrency into the Vocal platform, and using smart contracts for other e-commerce platform opportunities currently in the works.
OG Gallery Drop 2: The Donald Trump Pictures
As I articulated in my last update, I was encouraged by the data we were able to gather from our first drop. The data, which included sentiment and general demographic of those interested in the OG Gallery, was instrumental in determining our company’s commitment to move forward and learn more about the space. I still consider us in an R&D phase of our NFT strategy.
How Vocal Scales the Freemium to Premium Model
Our company, Creatd, and the four foundational pillars it is comprised of, is the product of an audacious vision that dates back the better part of a decade. Together, my management team and I built and developed a core product, along with a corporate culture that is sustainable, defendable and scalable. We believed we could create significant value as a publicly-traded company by sticking to a partnership with creators that prioritizes their interests—both economic and creative—at the center of our mission.
First NFT Auction Completed by The OG Gallery
We announced this morning that all six of the NFTs in Creatd’s inaugural drop–featuring the model and Penthouse Pet Billie Deane, also known as Gillian Duxbury–successfully sold at auction, and I am happy to report that I myself purchased one of them. My plan is to keep mine for a long time to come, as I can be sentimental and will want to hold on to my first NFT purchase ever. I was encouraged by the data we were able to gather from metrics including sentiment and general demographic of those interested in the OG Gallery. This data is instrumental in determining our company’s next move.
OG Collection NFT Strategy
I'm excited to continue to expand on my last article, published this past April, outlining our developing NFT strategy. In addition to this article, I also want to address the influx of interest we have received on this subject, beginning a mere few months after we uplisted to Nasdaq. At our last annual shareholder call, I first addressed our NFT strategy publicly. At the time, we said:
6 Things I’ve Learned As A CEO
Being a modern-day CEO means accepting that there is no new normal. In fact, I am relatively confident there never was an old normal to begin with. We are far from processing the ripple effects of 2020, let alone the last five years. According to a report I read, technological advances in society could displace up to 85 million jobs within the next five years. With this in mind, I explored further and found that there are approximately 85 million working-age people between 45 and 64 who will fall into this category. I for one, do not want to be displaced, certainly not when the path to relevancy is so clear.
Introducing the OG Gallery
In the weeks since our last shareholder earnings call, there continues to be a great deal of inquiry regarding the relationship between NFTs and the creator space. I have been asked repeatedly by a few of our larger and sophisticated investors to expand on our NFT strategy.
Creatd Q3 2020 Letter to Shareholders
Be Vocal Our thoughts are never far from the tragedies that continue to define the pandemic, as well as the divisiveness and growing socioeconomic divide in our country. We are evolving in ways we never could have imagined just one year ago. In these unprecedented times, Creatd’s platform Vocal is providing the right service at a necessary time; it is providing the opportunity for the people to be heard.
Creatd Inaugural Letter to Shareholders
We said the following 4 years ago... The entire evolution of digital media, and every individual technological advancement, is met with the same questions. Sociologically, every new digital platform is viewed through that same lens: “How can I have my voice heard on the internet? How can I make money on the internet? How can I scale the money I can make on the internet?” Corporate forces and legacy tech architectures do not necessarily advocate for a free, capitalistically-driven internet. It is not a particularly even playing field in the race to internet fame. However, it is also very early in the transition from analog to digital, and advances are coming at an exponential pace.