Yesterday, the parent company of OG Gallery Creatd Inc (OTCMKTS:CRTD) was in the news cycle after it announced that it had completed its biggest ART drop ever. The NFT drop, which is of a new generative nature, features as many as 1000 unique images from OG Gallery and marks a major new development.
On Thursday, CRTD stock moved down 6.12% to $0.6900 with 672.70K shares, compared to volume of 1.40 million shares. The stock moved within a range of $0.5900 – 0.7530 after opening trade at $0.7350.
Creatd’s OG Subsidiary Announces First-Ever Generative NFT Drop
OG Gallery had actually been created for the purpose of creating new digital as well as physical art from rare archival materials from the OG Collection that is owned by Creatd. The ultimate aim was to help in the creation of an innovative marketplace for both fine art collectors as well as for NFT buyers.
A solitary NFT on the OG Gallery site can be minted for only 0.2 ETH and it is going to be made available from December 15, 2022. However, the collection had been made available to everyone for preview yesterday.
It is going to be interesting to see if the Creatd stock gets any traction from investors in the days leading up to December 15 or not. As it happens, earlier on in the week it had been announced by Creatd that it had inked a Letter of Intent for selling a quarter of the OG Collection for the price of around $2.5 million.
Commented Creatd CEO and Chairman Jeremy Frommer, “Guccione was, above all else, an innovator. With OG Gallery, and today’s significant NFT drop in particular, we invite you to become a collector who champions free expression, furthers creative innovation, and celebrates artistry.”
CRTD stock is trading below the 20-Day and 50-Day Moving averages of $0.91 and $0.70 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.80.