Creatd Announces Plans To Spin-off Web 3.0 Assets

Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), a creator-first holding company, today announced that it intends to spin off the OG Collection, the Company’s wholly-owned media library, and OG Gallery, its associated Web 3.0 platform business, into a new publicly-traded entity. Following the spin-off, Creatd intends to retain a minority interest in the new entity, with the remaining shares expected to be distributed to current and future shareholders.

Said Jeremy Frommer, Creatd’s Founder and Executive Chairman, “With the recent beta launch of our proprietary technology platform, the OG Gallery, the new company will be one of the few ‘pure play’ Web 3.0 companies in the public markets. We are currently consulting with advisors and potential banking partners about a number of opportunities for structuring this potential transaction.”

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For the Company, the separation of the OG Collection and OG Gallery enables it to benefit from the potential upside of the collection’s intangible value while reducing Creatd’s costs, thereby allowing management to prioritize growth across Creatd’s core revenue lines. Following the spinoff, Creatd will continue to be able to leverage OG Gallery’s technology for use across all of its four pillars, and in particular, its agency-oriented pillar, Creatd Partners. Equally important, the spin-off should immediately improve the Company’s balance sheet. The Collection is not currently valued on the Company’s balance sheet based on purchase price accounting guidance, despite its physical assets having been independently appraised at $6 to $8 million.

As part of this effort, the Company is collaborating with Starchive, an innovative platform for content storage, curation, and commerce both on and off the blockchain. The OG Collection engaged Starchive to aid its ongoing curation effort and maximize value from the collection in future production, licensing, and branding opportunities.

For over a decade, Starchive has built its reputation as one of the world’s leading providers of digital asset management services, having worked with numerous culturally significant archival media collections, including that of Bob Dylan and Essence Magazine. Starchive relaunched in 2021, as a powerful bridge between Web 2.0 and Web 3.0 for all creators, and is now serving over 60,000 creators worldwide.

Richard Averitt, CEO of Starchive, said: “We are excited to be partnering on a collection that captures a significant body of 20th-century cultural history and a brand that shares our vision of creator tools that create a direct gateway for NFT creators and collectors alike.”

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