AMPD Ventures (AMPD.CN) today announced that through its operating subsidiary, Departure Lounge Inc., a Vancouver, BC-based company offering next-generation media production and creative services and world-renowned electronic dance music label, Monstercat are pleased to announce that their ground-breaking co-production, WHIPPED CREAM’s “THE DARK VR” mixed-reality music video, has helped win a prestigious Canadian Independent Music Association (CIMA) BOLD Award for WHIPPED CREAM’s “Someone You Can Count On” EP.

The CIMA BOLD award recognizes that innovation knows no bounds in the digital era, and creative approaches to promotional campaigns, be they viral, experiential or lifestyle-focused, make for an exciting landscape in which to launch new projects. “THE DARK VR” was the centrepiece of Monstercat’s award-winning campaign.

“THE DARK VR” kicked off with a teaser at the Vancouver International Film Festival (VIFF), then transitioned into a full 2D music video, and later evolved into a fully immersive virtual-reality experience that premiered at South by Southwest (SXSW) 2023.

“This unparalleled virtual experience built for WHIPPED CREAM’s EP would not have been possible without the incredible partnership and collaboration with Departure Lounge, Will Selviz (Creative Director) and DigiBC who all helped make the “THE DARK” and “THE DARK VR” a reality,” said Tabitha Neudorf, Music Marketing Lead at Monstercat. “This CIMA BOLD Award is a testament to our unwavering commitment to showcasing the exceptional creativity of our artists. Departure Lounge’s volumetric capture process and expert virtual world developers helped unlock WHIPPED CREAM’s creative vision in unprecedented ways.”

“Congratulations to WHIPPED CREAM and the entire Monstercat team on this well-deserved win,” said Adam Rogers, VP of Creative and Head of Studio at Departure Lounge. “We’re honoured to have played a role in the success of Monstercat’s campaign for the new WHIPPED CREAM EP. This project gave us an opportunity to push the boundaries of immersive technology and storytelling in the music industry and create Canada’s first fully volumetrically captured music video.”

Recently,  AMPD Ventures did announce layoffs and a commitment to reducing monthly expenses and strengthening its endeavour to be cash flow neutral this summer. Certain areas of the business are being evaluated and being reformulated to adopt less capital-intensive approaches and drive cashflow by Summer 2023.

The stock reacted negatively to the news by breaking below a major support zone at $0.075, which was the previous all time record lows for the stock. New lows were printed at $0.03.

The stock has attempted to fill the gap, but selling pressure is coming near the gap highs and resistance at $0.075. From a technical perspective, AMPD gets bullish once a close above this gap and $0.075 is achieved. If not, selling pressure can continue. However, perhaps consolidation and a range can develop here which would be a positive sign for bulls as this would indicate selling exhaustion.