via NewMediaWire --
NextPlay Technologies, Inc. (NASDAQ:
NXTP) (the ‘Company’ or ‘NextPlay’), a digital business
ecosystem for consumers, digital advertisers, video gamers and
travelers, announced today the plans to form the MedTrek Fund,
which is expected to be a blockchain securitized closed-end fund.
The fund once formed, is anticipated to seek to list on multiple
regulated exchanges, subject to regulatory approval.
The Company has designed a new class of medical facilities that
integrates unique geometries and technologies it believes will
reduce the spread of infection.
According to a World Health Organization
(“WHO”) report in 2019, an estimated 7 percent of hospitalized
patients in high-income countries and 10% of hospitalized patients
in low- and middle-income countries will acquire one or more health
care-associated infections (“HAIs”) at any given time.
The new class of medical facilities, planned to be
developed by the Fund, is expected to combine proprietary physical
designs and technologies with the goal of protecting patients from
the spread of infection and harm from physical intrusion.
The Company believes that the Fund, once formed,
will have the ability to offer facilities designed to lower the
likelihood of infection for four medical asset classes including
primary care, tertiary care, long term care and resort convalescent
facilities. The Fund is also expected to invest in
wellness-oriented residential and commercial facilities that are
integrated with the proposed physical and technological
layers.
NextPlay is in discussions with prime landowners
in several countries to contribute their property assets to the
proposed Fund. These countries, including Thailand which had the
world’s largest share of medical tourism in 2019 (according to the
Grandview Research report discussed below), have experienced
significant declines in tourism due to COVID-19, but are expected
to have robust medical tourism growth in the coming years.
Additionally, NextPlay is also in discussions with certain medical
service providers located around the world who are interested in
offering services in facilities that resist infection spread, and
offer a higher level of physical security.
The Fund’s initial focus is expected to be
Southeast Asia where we believe such facilities are most likely to
benefit from expected growth in medical tourism. According to
Grandview Research, the medical tourism market is expected to grow
from $44.8 billion in 2019 to $207.9 billion by 2027, with Thailand
currently having the largest market share.
Bill Kerby, co-CEO of NextPlay, stated, “The
MedTrek Token is planned to be the first of several
crypto-securitized alternative assets that we expect to issue
through our FinTech division which includes our indirect ownership
in Longroot Holding (Thailand) Company Limited. Through our efforts
to date, we believe we have identified opportunities in medical
tourism and its adjacencies. Leveraging on our partners’
significant understanding of real estate development, we believe
that we can help catalyze on the growth potential we see in medical
tourism by using common sense design and the deployment of latest
technologies including Internet of Things and Machine
Learning.”
The planned Fund discussed above has not been
formed to date, and such formation and anticipated benefits and
offerings, are subject to numerous risks and uncertainties, and may
not progress on the timeline as currently anticipated, or at
all.
The Company’s short video explaining MedTrek is
available here.
About NextPlay Technologies
NextPlay Technologies, Inc. (Nasdaq: NXTP) is a
technology solutions company offering games, 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 its existing and acquired
technologies. To learn more about NextPlay,
visit NextPlayTechnologies.com, and follow us
on Twitter @NextPlayTech and LinkedIn.
Important Cautions Regarding
Forward-Looking Statements and Disclaimers
This press release includes “forward-looking
statements” within the meaning of the federal securities laws.
Forward-looking statements give our current expectations, opinions,
belief 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; certain required regulatory approvals, which may not
be met within our expected timeframe, if at all; 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; our ability to close,
timely, or at all, the acquisitions of certain intellectual
property assets from Fighter Base and Token IQ, as previously
disclosed; 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; if we do not adequately
protect our intellectual property, our ability to compete could be
impaired; our long-term travel business 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 travel
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 direct and indirect acquisitions of
Longroot Holding (Thailand) Company Limited (Longroot), HotPlay
Enterprise Limited (HotPlay) and NextBank International (formerly
IFEB), as well as our compliance with applicable U.S. and Thailand
laws in connection therewith; 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
Enterprise Limited, which acquisition 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 the Company
are detailed from time to time in the Company’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.
The token contemplated in this release
(collectively, the “Securities) have been registered under the U.S.
Securities Act of 1933, as amended (the “Securities Act”), in
reliance upon the exemption provided by Regulation S thereunder.
The Securities referenced herein are not for distribution, directly
or indirectly, in or into the United States or to any U.S. person
as defined in Regulation S. This announcement is not an offer of
Securities for sale into the United States. The Securities have not
been registered under the Securities Act and may not be offered or
sold in the United States or to, or for the account or benefit of,
U.S. persons (as such term is defined in Regulation S) unless they
are registered under the Securities Act or they are exempt from
registration under the Securities Act. Hedging transactions
involving these Securities may not be conducted unless in
compliance with the Securities Act.
Source: NextPlay Technologies, Inc.
Company Contact:
NextPlay Technologies, Inc
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
richard.marshall@nextplaytechnologies.com
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