- The jointly owned technology platform is in early stages of development.
- Creatd will be contributing access to its nearly 2 million Vocal and Vocal+ creators reaching an audience of 200m from its flagship social media product Vocal.
- BCII and Creatd are committed to protect data privacy and provide platform solutions for users to monetize their most valuable asset.
NEW YORK, March 28, 2023 /PRNewswire/ -- Creatd, Inc. $CRTD ("Creatd" or the "Company"), the parent company of Vocal, today announced it has signed a Joint Venture LOI with BCII Enterprises Inc., with Creatd controlling 51% and BCII controlling 49% of the jointly owned technology platform. The platform will leverage BCII's YOURINFO.com technology and empower individuals to monetize their personal data and make informed decisions about its use.
BCII's product YOURINFO.com's expertise in data privacy and security solutions will be leveraged to potentially offer users different levels of protection at varying costs. Users can opt-in to selling specific data to companies. This opportunity can take place in multiple ways, from a simple opting-in to being paid for taking quizzes and completing surveys. The revenue generated for the platform will depend on market demand, competition, and development costs. A commission of 10-30% is typically charged on revenues generated from data protection platforms. The future platform offers a significant opportunity to generate new revenue streams for both companies while providing value to users. The jointly owned technology platform is expected to launch later this year, and further updates will be provided in due course.
"We are excited to partner with BCII to create a platform empowering individuals to control and monetize their data while offering data privacy solutions. With our expertise, we can generate new revenue streams for both companies. In addition to the fundamental opportunity, the potential to spin-off shares of the CRTD/BCII JV directly to $CRTD shareholders creates another corporate action in our ongoing battle against the shorts. Updates on the joint venture's progress will follow," said Jeremy Frommer, CEO of Creatd, Inc.
About Creatd
Creatd, Inc. ($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: ir@creatd.com
About BCII Enterprises Inc.
BCII Enterprises, Inc. ($BCII) and its acquired product YOURINFO.com is a leading provider of data privacy and security solutions, helping individuals and businesses protect their personal and sensitive information. With a focus on education and awareness, YOURINFO.com is committed to helping people take control of their online identity and stay safe online. For more information, visit BCII Enterprises at https://bciienterprises.com/.
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SOURCE Creatd, Inc.
