NextPlay Technologies Enters into Agreement to Acquire AI-Powered Video Game Development Technology from Fighter Base Publishing, Inc.
August 23 2021 - 8:30AM
via NewMediaWire –
NextPlay Technologies, Inc. (Nasdaq:
NXTP), a digital business ecosystem for digital advertisers,
consumers, video gamers and travelers, today announced it has
entered into an agreement to acquire from Fighter Base Publishing,
Inc. (FBP), the assets and AI-powered video game development
platform of FBP’s wholly-owned division, Make It Games™.
Make It Games (MIG) enables developers to create video games
powered by artificial intelligence (AI). Its technology supports
the training of virtual characters to be more lifelike in
appearance and behavior. Proprietary AI animation tools help
program game or film characters to fully animate themselves, saving
as much as 70 percent of the typical time and cost of
animation.
Fighter Base Publishing was founded by Mark Vange, NextPlay’s
recently appointed chief technology officer. Formerly a chief
technology officer at Electronic Arts, Vange has authored over 41
granted patents in the US for innovative technologies that have
defined the industry. This acquisition by NextPlay will include
pending patents that cover Make it Games’ proprietary AI game
development technology.
Tony Harman, Make It Games president, is also expected to join
the NextPlay technology team. He had previously helped lead
Nintendo America and has numerous game credits that include Donkey
Kong Country and Grand Theft Auto.
“We see our AI technology enabling NextPlay to power everything
from rapid game and ad creation to advertising optimization, travel
recommendation and richer virtual experiences,” said Mr. Harman,
“This can mean faster product time-to-market along with
higher-margin digital asset monetization and product sales across
the NextPlay digital ecosystem. We also believe that licensing the
technology to other game and film studios, ad agencies and other
content creators could become a significant revenue driver for
NextPlay.”
NextPlay co-CEO Nithinan ‘Jessie’ Boonyawattanapisut, commented,
“We believe that the addition of Make It Games technology and its
leadership will help accelerate our global initiatives and
transform NextPlay into a powerhouse in online advertising,
interactive digital media, gaming, fintech and travel, and serve as
a bridge for us to expand into the metaverse. They are expected to
greatly augment our growing global technology group that is focused
on developing and implementing innovative consumer-engaging assets
across multiple media channels.”
Additional details of the acquisition can be found in NextPlay’s
Current Report on Form 8-K filing with the U.S. Securities and
Exchange Commission, which is available at sec.gov or the investor
relations section at NextPlayTechnologies.com.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology
solutions company offering gaming, in-game advertising,
crypto-banking, connected TV and travel booking services to
consumers and corporations within a growing worldwide digital
ecosystem. NextPlay’s engaging products and services utilize
innovative AdTech, Artificial Intelligence and Fintech solutions to
leverage the strengths and channels of our existing and acquired
technologies. For more information about NextPlay Technologies,
visit NextPlayTechnologies.com. Follow us on Twitter @NextPlayTech
and LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of, and within the safe harbor provided by the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements give our current expectations, opinions,
beliefs or forecasts of future events and performance. A statement
identified by the use of forward-looking words including “will,”
“may,” “expects,” “projects,” “anticipates,” “plans,” “believes,”
“estimate,” “should,” and certain of the other foregoing statements
may be deemed forward-looking statements. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, these statements involve risks and
uncertainties that may cause actual future activities and results
to be materially different from those suggested or described in
this news release. Factors that may cause such a difference include
risks and uncertainties related to our need for additional capital
which may not be available on commercially acceptable terms, if at
all, which raises questions about our ability to continue as a
going concern; the fact that the COVID-19 pandemic has had, and is
expected to continue to have, a significant material adverse impact
on the travel industry and our business, operating results and
liquidity; amounts owed to us by third parties which may not be
paid timely, if at all; certain amounts we owe under outstanding
indebtedness which are secured by substantially all of our assets
and penalties we may incur in connection therewith; the fact that
we have significant indebtedness, which could adversely affect our
business and financial condition; uncertainty and illiquidity in
credit and capital markets which may impair our ability to obtain
credit and financing on acceptable terms and may adversely affect
the financial strength of our business partners; the officers and
directors of the Company have the ability to exercise significant
influence and voting control over the Company; stockholders may be
diluted significantly through our efforts to obtain financing,
satisfy obligations and complete acquisitions through the issuance
of additional shares of our common or preferred stock; if we are
unable to adapt to changes in technology, our business could be
harmed; our travel business depends substantially on property
owners and managers renewing their listings; if we do not
adequately protect our intellectual property, our ability to
compete could be impaired; our long-term success depends, in part,
on our ability to expand our property owner, manager and traveler
bases outside of the United States and, as a result, our business
is susceptible to risks associated with international operations;
unfavorable changes in, or interpretations of, government
regulations or taxation of the evolving ALR, Internet and
e-commerce industries which could harm our operating results; risks
associated with the operations of, the business of, and the
regulation of our recent acquisitions of Longroot Holding
(Thailand) Company Limited (Longroot), HotPlay Enterprise Limited
(HotPlay) and NextBank International (formerly IFEB); the market in
which we participate being highly competitive, and because of that
we may be unable to compete successfully with our current or future
competitors; our potential inability to adapt to changes in
technology, which could harm our business; the volatility of our
stock price; risks associated with the integration of the
operations of HotPlay, Longroot and IFEB, which acquisitions we
recently competed; the fact that we may be subject to liability for
the activities of our property owners and managers, which could
harm our reputation and increase our operating costs; and that we
have incurred significant losses to date and require additional
capital which may not be available on commercially acceptable
terms, if at all. More information about the risks and
uncertainties faced by NextPlay are detailed from time to time in
NextPlay’s periodic reports filed with the SEC, including its most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q, under the headings “Risk Factors”. These reports are
available at www.sec.gov. Other unknown or unpredictable factors
also could have material adverse effects on the Company’s future
results and/or could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements. Investors are cautioned that any
forward-looking statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected. The forward-looking statements in this press release are
made only as of the date hereof. The Company takes no obligation to
update or correct its own forward-looking statements, except as
required by law, or those prepared by third parties that are not
paid for by the Company. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
SOURCE: NextPlay Technologies, Inc
Company Contact:NextPlay Technologies, Inc.Richard
MarshallDirector of Corporate DevelopmentTel (954)
888-9779richard.marshall@nextplaytechnologies.com
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