Victory Square Technologies (VST.C) has signed an LOI for a follow-on investment of $1,000,000 in Creator.co which will be used to grow the existing platform and complete the development of an add-on feature that will allow creators to launch their own digital currency powered by the blockchain.
Creator.co (previously called Shop and Shout) was launched in 2018 and has since grown into a top-ranking influencer platform. Creator.co facilitates influencer and brand relationships, and provides influencers a hub to find ongoing campaigns.
I created an account just to see what it’s about, and immediately was offered these campaigns:
And if you click on the campaign it gives you more information, how many people you have to reach, what you’ll get in return, how much engagement they expect, etc.
While the operation mostly focuses on Instagram at the moment, but there is always the possibility of expansion into Facebook, Twitter, and most importantly (and probably most lucratively) Tik Tok.
“We’re excited to partner closely with VST and add even more depth to our Creator ecosystem. The funds will be used to scale our current features while adding tokenomics to the ecosystem – giving creators even more ways to earn on Creator.co. With the Influencer marketing space growing by 30% annually, it’s on pace to be worth over $80 billion by 2028. I don’t believe it will be a standalone platform that ends up helping the most Creators and Brands, it needs to be an Ecosystem,” commented Vinod Varma, CEO of Creator.Co.
As someone who doesn’t really use Instagram, whenever I read something like the Influencer marketing space is on pace to be worth over $80 billion by 2028 I am paradoxically shocked and not at all surprised: it seems that, despite the fact I never see influencers myself, I am constantly hearing about how this influencer or that person is making millions through content creation. Because products are looking to cast a wide net, they don’t want to have to set up individual partnerships with small influencers just to reach 8,000 people.
The most interesting part of this to me is the idea of influencer crypto. Is there going to be a Kim Kardashian Coin or Casper Lee Crypto? If Doge can make it, who knows, right? Also, enabling this technology could help influencers turn popular posts into NFTs, allowing them to gain a new source of revenue.
“Creators are businesses that are creating real economic value, but they’re so poorly understood,” stated Shafin Diamond Tejani, chief executive of Victory Square. “This is a segment of the economy that has seen significant growth, but there aren’t many options for them to find the right tools that can help them reach their full business potential. One of the things I’m most excited about is giving power back to creators, and extending the options for monetization even further — to their followers.”
Victory Square’s investment will involving issuing Creator.co $1,000,000 worth of VST shares (which will be issued at $1.00 each on the closing date) and in return Victory Squares will be subscribing for $1,000,000 of Creator.co shares. $700,000 will go towards the blockchain development project, which will be managed by Victory Squares management team.
Following the news, Victory Square shares are up half a cent and are currently trading at $0.455.