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 Feb. 20, 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 $1.24 million. The company disclosed in their Form C filing that they don't plan to generate proceeds by the burning of NFTs in this Sharedrop, and thus have not provided a description for "Use of Proceeds".