Truth Arts
[Closed for Investment] Truth Arts, with a SAFE valuation cap of $132.5 million, is running a Reg CF campaign Sharedrop (via burning NFTs) on Republic. Eligible holders of certain NFTs as of the snapshot date of August 23, 2024, are able to burn their NFTs and receive a SAFE in return. The company aims to build a Web3 community dedicated to supporting independent creators and their pursuit of unfiltered storytelling. Truth Arts is focused on building a new global IP franchise, starting with popular digital collectibles like Goblintown, Grumpl, and Illuminati. They have a diverse monetization strategy that includes pay-to-play games, in-app purchases, advertising, and merchandise. Truth Arts was founded in 2014 by Alex Taub (CEO), Jason Forest (Chief Creative Officer), Michael Schonfeld (CTO), and Cesar Kuriyama (Creative Advisor). The current crowdfunding offering has a minimum target of $1 and a maximum target of $618,000. The company disclosed in its Form C filing that they don't plan to generate proceeds by the burning of NFTs in this Sharedrop and thus has not provided a description for "Use of Proceeds.”
Investment Overview
Raised: $0
Deal Terms
Total Commitments ($USD)
- Platform
- Republic
- Start Date
- 07/26/2024
- Close Date
- 08/23/2024
$618,000
$0
SAFE
Series B
RegCF
$132,500,000
0%
Company & Team
Company
- Year Founded
- 2014
- Industry
- Media, Entertainment & Publishing
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- Low
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $23,670,066
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 08/23/2024 | Republic | $132,500,000 | $0 | SAFE | Not Funded | RegCF |
| 04/09/2024 | Republic | $132,500,000 | $0 | SAFE | Funded | RegCF |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.