Creatd (NASDAQ:CRTD) stock is popping off on Wednesday after the company revealed its first batch NFT artwork for sale.
According to Creatd, it’s kicking off its NFT art with six pieces from its OG Collection. The OG Collection is a group of more than 150,000 photographs, illustrations, videos, as well as other forms of media.
The collection comes from the archives of Bob Guccione. Guccione was previously the CEO of General Media. He was also the owner of several publications. Among them are Penthouse, Viva, OMNI, and Longevity.
The first six pieces from this collection are going up for auction as NFTs on Rarible. Those auctions opened today and are set to close next Friday at 11;59 p.m. Eastern Time.
Creatd is expecting great gains from its NFT business. The company notes that the OG collection was valued between $6 million and $8 million in 2016. At the time, that didn’t take into account licensing and copyright potential.
Creatd is also moving forward with plans to launch its own NFT marketplace. The company has partnered with NetObjex to set this up. This marketplace will make use of blockchain technology to handle the sale, trade, and marketing of NFTs.
Jeremy Frommer, founder and co-CEO of Creatd, said this about the news boosting CRTD stock up today.
‘Today’s announcement is part of a strategic initiative first introduced in April of this year. We’re thrilled to feature some of the exceptional pieces from the OG Collection by bringing it into the NFT space.”
CRTD stock was up 7% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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