NextPlay Announces a Request for Proposals for Its Upcoming Suite of Stable Coins
November 04 2021 - 12:30PM
via NewMediaWire --
NextPlay Technologies,
Inc. (Nasdaq: NXTP), a digital business
ecosystem for digital advertisers, consumers, video gamers and
travelers, announces it is seeking partners to power a suite of
digital stable coins. NextPlay’s suite of coins will be built
on top of recently acquired enabling technologies from Token
IQ Inc. and enabled by NextPlay’s Longroot
and NextBank units.
The suite of coins will cover a broad array of
assets including various fiat currencies across a group of crypto
chains with the goal of maximizing both the fiat and digital
currency interoperability. With this goal in mind NextPlay is
soliciting information from technology, banking, exchange, and
digital chain partners.
“We are seeking partnership with technology minded
financial institutions and compliance minded crypto infrastructure
providers throughout the world with a particular focus on Southeast
Asia and Africa,” said Mark Vange, NextPlay CTO.
Initial use-cases for the stable coin span the
breadth of NextPlay’s operations including video game currency,
in-game advertising, travel and travel-related offers as well as
banking, investment and payments. Once established, the coin
suite will be offered to the general public and to partner
exchanges.
“With our unique blend of licensed and compliant
operations in various realms of finance, and a team with rich
experience in both digital currency and games, we look forward to
enabling in-app rewards, advertising as well as Non-Fungible Token
based games by establishing easy on- and off-ramps for the general
public,” said Nithinan (Jessie) Boonyawattanapisut, co-CEO.
To contact the coin team and schedule a
preliminary call please
contact inforequest@nextplaytechnologies.com.
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 our existing and acquired
technologies. For more information about NextPlay Technologies,
visit nextplaytechnologies.com and 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
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
Richard.Marshall@NextPlayTechnologies.com
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