Truth Arts

Truth Arts

Growth Stage

We are a collective of high-powered creative mutant world-builders

We are a collective of high-powered creative mutant world-builders

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Republic

Start Date

02/26/2024

Close Date

04/09/2024

Max. Goal
$1,235,000
Min. Investment

$0

Security Type

SAFE

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$132,500,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/16/2024

Days Remaining
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$0

# of Investors

342

Momentum
Funded
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Year Founded

2014

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Hollywood, Florida

Business Type

High Growth

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".

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$-1,905

 

 

Net Income

$-3,700,376

$-1,775,771

Summary Balance Sheet

FY 2022 FY 2021

Cash

$13,895,212

$1,276,783

Accounts Receivable

$0

$0

Total Assets

$14,089,521

$1,365,021

Short-Term Debt

$63,250

$25,444

Long-Term Debt

$0

$0

Total Liabilities

$63,250

$25,444

Financials as of: 02/26/2024
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Truth Arts on Republic 2024
Platform: Republic
Security Type: SAFE
Valuation: $132,500,000

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