HUMBL, the owner of ticket operator Tickeri, has completed its acquisition of Hollywood production studio Monster Creative to create non-fungible tokens (NFTs) and ticketing experiences for clients.
Under the deal, Monster Creative will continue independent operations of its Hollywood studios, while collaborating with HUMBL on the digital media, multimedia NFTs and experiences for clients in sports, music, entertainment, fashion, gaming, and photography.
The purchase price for the acquisition was paid with $7.5m in convertible debt and $500,000 in non-convertible debt, for a total of $8m. The conversion price for the convertible debt is $1.20 per share.
Brian Foote, chief executive of HUMBL, said: “We are honoured to work with such highly regarded Hollywood veterans, to create world class, immersive multimedia NFTs and ticketing experiences for clients and fans in the digital realm.”
Monster Creative is a creative advertising agency in the entertainment space founded by industry veterans Doug Brandt and Kevin Childress. The pair have created marketing campaigns for many notable films such as Transformers, Spider-Man and Terminator, among others
HUMBL was created to package new technologies like blockchain, for global consumers in digital payments, ticketing and NFTs.
In March 2021, HUMBL entered into a binding term sheet worth $20m to acquire Tickeri, the ticketing, live events and box office SaaS platform for the US, Latin America and Caribbean region.
During 2019, Tickeri sold over one million tickets for a total of $30m in combined online and offline face value ticketing volume. The company has experienced 30 per cent year-over-year transaction volume revenue growth in non-COVID-19 years, since its founding in 2011.
HUMBL has also announced this week that chief executive Brian Foote has agreed to retire 9,350 shares of Series B Preferred Stock that he owns, which is the equivalent of $100m.
The retired shares are sufficient to cover the shares that have been or will be issued in connection with the completed Tickeri and Monster LA acquisitions,
Last month, HUMBL teamed up with sports agency Athletes First as a strategic consultant to focus on the development of new business verticals in such areas as NFTs, digital media and ticketing.