Sunrise, Florida – 
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