Creatd Inc. (CRTD) stock prices were up by 13.51% shortly after market trading commenced on September 22nd, 2021. This brought the price per share up to USD$3.24 early on in the trading day.
CRTD Stock’s NFT Debut
September 22nd, 2021 saw CRTD stock announce the debut of its non-fungible token art. The announcement was marked with an initial release of six featured works of NFT art from the OG collection. The OG collection is a library of more than 150,000 photographs, illustrations, videos, and other media content. The library originated from the archives of Bob Guccione, who was once the CEO of General Media and the owner of various publications, including Penthouse.
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Continued NFT Development
The announcement is a step in the strategic initiative that was first introduced in April of 2021. The assets of OG Collection LLC is wholly owned by CRTD stock. Preliminary valuations from 2016 ranged from USD$6 million to USD$8 million, exclusing licensing and copyright opportunities. The first six NFTs made available will be purchasable via auction from the 22nd of September to the 30th of September.
Collaboration with NetObjex
CRTD stock concurrently announced having entered into a strategic partnership with NetObjex. The collaboration will pursue the development of a proprietary NFT marketplace, building upon the initial NFT debut. The platform will make use of blockchain technology to facilitate the marketing, trading, and sale of digital artwork, collectibles, and other media content. NetObjex is a premier technology company in the digital asset space. It is supported by Liberty City Ventures (LCV), a leading venture capital firm that focuses on blockchain-technology.
Scope of CRTD Stock’s NFTs
CRTD stock is keen to collaborate with LCV and NetObjex to develop their NFT marketplace. NFTs are a burgeoning marketspace that are fast becoming the dominant mechanism to own and control intellectual property. They allow artists and collectors to buy, sell, lend, lease, and license digital content. Non-fungible tokens are the newest opportunity for creators to make use of the power of technology to facilitate and showcase their passions.
Future Outlook for CRTD Stock
The company reported a promising quarter, consolidated by the debut of its continued spearheading of the NFT marketplace. CRTD stock is keen to capitalize on the accelerated proliferation of its marketplace. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to result in organic and consistent growth in shareholder value over the long term.