# EDGAR Filing Document

**Accession Number:** 0001357671
**File Stem:** 0000000000-23-002216
**Filing Date:** 2023-3
**Character Count:** 16351
**Document Hash:** c13e5d2dbf65bc9b068a82dcdf955dff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-002216.hdr.sgml**: 20230801

**ACCESSION NUMBER**: 0000000000-23-002216

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230306

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Creatd, Inc.
- **CENTRAL INDEX KEY:** 0001357671
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ALLIED TO MOTION PICTURE PRODUCTION [7819]
- **IRS NUMBER:** 870645394
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 419 LAFAYETTE STREET, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10003
- **BUSINESS PHONE:** 201-258-3770

**MAIL ADDRESS:**
- **STREET 1:** 419 LAFAYETTE STREET, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10003

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Jerrick Media Holdings, Inc.
- **DATE OF NAME CHANGE:** 20160304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Great Plains Holdings, Inc.
- **DATE OF NAME CHANGE:** 20131213

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LILM, INC.
- **DATE OF NAME CHANGE:** 20060329
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-23-012968

## Text-Extract

```

United States securities and exchange commission logo

                              March 6, 2023

       Jeremy Frommer
       Chief Executive Officer
       Creatd, Inc.
       419 Lafayette Street, 6th Floor
       New York, NY 10003

                                                        Re: Creatd, Inc.
                                                            Form 8-K
                                                            Filed February 17,
2023
                                                            File No. 001-39500

       Dear Jeremy Frommer:

              We have reviewed your filing and have the following comments. In
some of our
       comments, we may ask you to provide us with information so we may better
understand your
       disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 8-K filed February 17, 2023

       General

   1.                                                   You issued a press
release on February 14, 2023 stating that the company has commenced
                                                        trading on Upstream and
its securities now trade on both the OTC and Upstream under the
                                                        ticket symbol CRTD.
Please revise your current report on Form 8-K to disclose the risks
                                                        and uncertainties with
listing on Upstream, including any restrictions on investors. In this
                                                        regard, please explain
what you mean when you state that MERJ operates Upstream as "a
                                                        fully regulated and
licensed integrated securities exchange, clearing system and depository
                                                        for digital and
non-digital securities." We note that MERJ is regulated in the Seychelles
                                                        by the Financial
Services Authority Seychelles, https://fsaseychelles.sc/. In doing so,
                                                        please clarify whether
MERJ is registered or regulated in any manner in the United States.
   2.                                                   It appears that the
Upstream website allows trading of tokenized equity of certain
                                                        companies and that you
are listed on Upstream. With a view toward disclosure, please
                                                        provide a materially
complete description of the tokenized shares and the process by
 Jeremy Frommer
FirstName
Creatd, Inc.LastNameJeremy Frommer
Comapany
March       NameCreatd, Inc.
       6, 2023
March2 6, 2023 Page 2
Page
FirstName LastName
         which shareholders exchange their common shares for the tokenized
shares, including
         the entire lifecycle from the initial exchange of common shares for
tokenized shares
         through the exchange back into common shares. In responding to this
comment:

             include the company   s legal analysis as to the characterization
of the tokenized
         equity, and whether it is the same class as the common shares, a
different class of
         common stock, or a security-based swap.
             provide a detailed explanation of how such securities are the same
as the issued and
         outstanding shares of common stock already registered, as well as how
such shares
         compare in regard to transferability and the role of the transfer
agent, whether
         on Upstream or otherwise.
             explain the role of MERJ Depository and Registry Limited and how
it interacts with
         the company   s U.S. transfer agent, and also address how any
"tokenized equity" is
         held on Upstream through MERJ Depository and Registry Limited (e.g.,
whether through
         a shareholder's wallet or an omnibus wallet).
3.       The press release indicates that shareholders are eligible to claim
digital NFTs. Explain
         whether you are planning to offer any digital dividends to
shareholders and disclose the
         process for distribution of digital dividends, including whether the
digital dividends will
         be limited to those who hold the tokenized shares. Also explain how
you will inform and
         communicate to shareholders in regard to any digital dividends or
gifts, with respect to the
         tokenized shares.
4.       Please revise your disclosure to clarify whether there could be
discrepancies between the
         trading prices of common shares on the OTC and the tokenized shares on
Upstream,
         whether resulting from different liquidity in the markets or
otherwise.
5.       Please revise your disclosure to clarify what information is publicly
available about the
         trading activity that occurs on Upstream and, in particular, what
information holders of
         common shares would have about the trading on Upstream before making a
decision to
         exchange their common shares for tokenized shares.
6.       In your February 14, 2023 press release, you state that    Global
investors can now trade by
         downloading Upstream from their preferred app store at
https://upstream.exchange/,
         creating an account by tapping sign up...    This appears to suggest
that U.S. investors can
         so trade. However, in your current report on Form 8-K, you also
disclose that    U.S.- or
         Canada-based investors are prohibited from buying shares on the
Upstream secondary
         market. However, U.S.- and Canada-based investors may sell securities
they have
         previously purchased or acquired from an issuer, stockbroker or stock
exchange that has
         duel-listed on Upstream." With a view toward disclosure, please
clarify and reconcile the
         statement in the press release, which seems to suggest U.S. investors
can buy on the
         platform, with the disclosure in the 8-K, which indicates U/S.
investors cannot sell on the
         platform.
7.       We note in your release from February 14, 2023, that Creatd's digital
collectible NFT
         commemorating the dual listing "is now available for all Upstream
participants to claim
 Jeremy Frommer
Creatd, Inc.
March 6, 2023
Page 3
      with the code CRTD." Please revise your Form 8-K to discuss the
commemorative NFTs
      in greater detail, including (i) who or what entity is issuing the NFTs,
(ii) what these NFTs
      consist of and what they represent, and (iii) if and where the NFTs can
be traded.

      Additionally, please advise us how you have determined whether a
commemorative NFT,
      a digital asset, is not a security and disclose the risk that the federal
securities laws may
      apply to the distribution of the digital collectible NFTs, including by
(i) providing us with
      your legal analysis that these NFTs are not securities within the meaning
of the U.S.
      federal securities laws and, therefore, you are not facilitating, or
causing you to engage in,
      transactions in unregistered securities and (ii) addressing the risks
related to a potential
      violation of Section 5 of the Securities Act if the interpretation or
enforcement of the law
      and regulations regarding NFTs change or if you erroneously conclude that
your NFTs are
      not securities.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Please contact Kate Beukenkamp at 202-551-3861 or Dietrich King at
202-551-8071
with any other questions.

                                                             Sincerely,
FirstName LastNameJeremy Frommer
                                                             Division of
Corporation Finance
Comapany NameCreatd, Inc.
                                                             Office of Trade &
Services
March 6, 2023 Page 3
cc:       Scott Linsky
FirstName LastName

```

### Attached PDF Documents

**Attachment 1:** `filename1`

DIVISION OF
CORPORATION FINANCE

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

March 6, 2023

Jeremy Frommer
Chief Executive Officer
Creatd, Inc.
419 Lafayette Street, 6th Floor
New York, NY 10003

**Re: Creatd, Inc.**
**Form 8-K**
**Filed February 17, 2023**
**File No. 001-39500**

Dear Jeremy Frommer:

We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response.

After reviewing your response to these comments, we may have additional comments.

Form 8-K filed February 17, 2023

General

1. You issued a press release on February 14, 2023 stating that the company has commenced trading on Upstream and its securities now trade on both the OTC and Upstream under the ticket symbol CRTD. Please revise your current report on Form 8-K to disclose the risks and uncertainties with listing on Upstream, including any restrictions on investors. In this regard, please explain what you mean when you state that MERJ operates Upstream as "a fully regulated and licensed integrated securities exchange, clearing system and depository for digital and non-digital securities." We note that MERJ is regulated in the Seychelles by the Financial Services Authority Seychelles, https://fsaseychelles.sc/. In doing so, please clarify whether MERJ is registered or regulated in any manner in the United States.
2. It appears that the Upstream website allows trading of tokenized equity of certain companies and that you are listed on Upstream. With a view toward disclosure, please provide a materially complete description of the tokenized shares and the process by

Jeremy Frommer
Creatd, Inc.
March 6, 2023
Page 2

which shareholders exchange their common shares for the tokenized shares, including the entire lifecycle from the initial exchange of common shares for tokenized shares through the exchange back into common shares. In responding to this comment:

• include the company's legal analysis as to the characterization of the tokenized equity, and whether it is the same class as the common shares, a different class of common stock, or a security-based swap.
• provide a detailed explanation of how such securities are the same as the issued and outstanding shares of common stock already registered, as well as how such shares compare in regard to transferability and the role of the transfer agent, whether on Upstream or otherwise.
• explain the role of MERJ Depository and Registry Limited and how it interacts with the company's U.S. transfer agent, and also address how any "tokenized equity" is held on Upstream through MERJ Depository and Registry Limited (e.g., whether through a shareholder's wallet or an omnibus wallet).

3. The press release indicates that shareholders are eligible to claim digital NFTs. Explain whether you are planning to offer any digital dividends to shareholders and disclose the process for distribution of digital dividends, including whether the digital dividends will be limited to those who hold the tokenized shares. Also explain how you will inform and communicate to shareholders in regard to any digital dividends or gifts, with respect to the tokenized shares.

4. Please revise your disclosure to clarify whether there could be discrepancies between the trading prices of common shares on the OTC and the tokenized shares on Upstream, whether resulting from different liquidity in the markets or otherwise.

5. Please revise your disclosure to clarify what information is publicly available about the trading activity that occurs on Upstream and, in particular, what information holders of common shares would have about the trading on Upstream before making a decision to exchange their common shares for tokenized shares.

6. In your February 14, 2023 press release, you state that "Global investors can now trade by downloading Upstream from their preferred app store at https://upstream.exchange/, creating an account by tapping sign up..." This appears to suggest that U.S. investors can so trade. However, in your current report on Form 8-K, you also disclose that "U.S.- or Canada-based investors are prohibited from buying shares on the Upstream secondary market. However, U.S.- and Canada-based investors may sell securities they have previously purchased or acquired from an issuer, stockbroker or stock exchange that has duel-listed on Upstream." With a view toward disclosure, please clarify and reconcile the statement in the press release, which seems to suggest U.S. investors can buy on the platform, with the disclosure in the 8-K, which indicates U.S. investors cannot sell on the platform.

7. We note in your release from February 14, 2023, that Creatd's digital collectible NFT commemorating the dual listing "is now available for all Upstream participants to claim

Jeremy Frommer  
Creatd, Inc.  
March 6, 2023  
Page 3

with the code CRTD.' Please revise your Form 8-K to discuss the commemorative NFTs in greater detail, including (i) who or what entity is issuing the NFTs, (ii) what these NFTs consist of and what they represent, and (iii) if and where the NFTs can be traded.

Additionally, please advise us how you have determined whether a commemorative NFT, a digital asset, is not a security and disclose the risk that the federal securities laws may apply to the distribution of the digital collectible NFTs, including by (i) providing us with your legal analysis that these NFTs are not securities within the meaning of the U.S. federal securities laws and, therefore, you are not facilitating, or causing you to engage in, transactions in unregistered securities and (ii) addressing the risks related to a potential violation of Section 5 of the Securities Act if the interpretation or enforcement of the law and regulations regarding NFTs change or if you erroneously conclude that your NFTs are not securities.

We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

Please contact Kate Beukenkamp at 202-551-3861 or Dietrich King at 202-551-8071 with any other questions.

Sincerely,

Division of Corporation Finance

cc: Scott Linsky