SUNRISE, FL, October 20, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – NextPlay Technologies, Inc. (NASDAQ: NXTP) (the “Company” or “NextPlay”), a digital business ecosystem for consumers, digital advertisers, video gamers and travelers, today announced plans to form the MedTrek Fund, which is expected to be a closed-end fund securitized by blockchain. The fund, once formed, is expected to seek listing on multiple regulated exchanges, subject to regulatory approval.
The company has designed a new class of medical facilities that incorporate unique geometries and technologies that it believes will reduce the spread of infections.
According to a report by the World Health Organization (“WHO”) in 2019, about 7% of patients hospitalized in high-income countries and 10% of patients hospitalized in low- and middle-income countries will obtain one or more treatments. health associated infections (“HAIs”) at any given time.
The new category of medical facilities, the development of which is planned by the Fund, is expected to combine physical designs and proprietary technologies with the aim of protecting patients against the spread of infections and damage caused by physical intrusion.
The Company believes that the Fund, when established, will be able to provide facilities designed to reduce the likelihood of infection for four categories of medical assets, including primary care, tertiary care, long-term care and convalescent centers. The Fund is also expected to invest in wellness-oriented residential and commercial facilities that are integrated with the physical and technological layers offered.
NextPlay is in talks with leading landowners in several countries to contribute their real estate assets to the proposed fund. These countries, including Thailand which had the largest share of the world’s 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 experience robust growth in medical tourism in the coming years. In addition, NextPlay is also in talks with certain medical service providers located around the world who wish to offer services in facilities that resist the spread of infection and provide a higher level of physical security.
The Fund is expected to initially focus on South East Asia, where we believe these facilities are most likely to benefit from the 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 holding the largest market share.
Bill Kerby, Co-CEO of NextPlay, said: “The MedTrek token is expected to be the first of several crypto-secure alternative assets that we plan to issue through our FinTech division, which includes our indirect stake in Longroot Holding (Thailand) Company Limited. . Through our efforts to date, we believe we have identified opportunities in medical tourism and its adjacencies. Building on the in-depth understanding of our real estate development partners, we believe we can help catalyze the growth potential we see in medical tourism by using common sense design and the deployment of the latest technology, including Internet of things and machine learning.
The Planned Fund discussed above has not been formed to date, and this training, and the anticipated benefits and offerings, are subject to many risks and uncertainties, and may not progress within the current schedule. expected, if 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 providing gaming, in-game advertising, crypto-banking, smart TV, and travel reservation services to consumers and businesses within a growing global digital ecosystem. NextPlay’s compelling products and services use 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 Warnings
This press release includes “forward-looking statements” within the meaning of federal securities laws. 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 such as “will”, “may”, “expect”, “projects”, “anticipate”, “plan”, “believe”, “estimate”, “should” and some of the other foregoing statements may be deemed to be forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties which may cause actual future activities and results to differ materially from those suggested or described in this press release.
Factors that could cause such a difference include the risks and uncertainties associated with 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 regulatory approvals required, which may not be completed on schedule, if at all; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant negative impact on the travel industry and our business, results of operations and liquidity; amounts owed to us by third parties that may not be paid on time, if at all; certain amounts we owe on outstanding debt that are secured by substantially all of our assets and any penalties we may incur therein; the fact that we have significant indebtedness, which could have an adverse effect on our business and financial condition; the uncertainty and illiquidity of the credit and capital markets which may affect our ability to obtain credit and financing on acceptable terms and may affect the financial strength of our business partners; our ability to complete, on time or not at all, acquisitions of certain intellectual property assets of Fighter Base and Token IQ, as previously disclosed; the officers and directors of the Company have the ability to exercise significant influence and vote control over the Company; shareholders may be significantly diluted by our efforts to obtain financing, meet our obligations and make acquisitions through the issuance of additional shares of our common or preferred shares; if we are not able to adapt to technological change, our business could be affected; if we do not adequately protect our intellectual property, our ability to compete could be compromised; the success of our long-term travel business depends, in part, on our ability to expand our owner, manager and traveler bases outside of the United States and, therefore, our travel business is sensitive to the associated risks. international operations; changes or adverse interpretations of government regulations or taxation of the evolving ALR, Internet and e-commerce industries that could adversely affect our results of operations; the risks associated with the operations, activities and 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 laws of the United States and Thailand in this regard; the market in which we participate is very competitive, and as a result, we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to technological changes, which could harm our business; the volatility of our share price; risks associated with integrating the operations of HotPlay Enterprise Limited, an acquisition we recently competed against; the fact that we may be held accountable for the activities of our property owners and managers, which could damage 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. Further information on the risks and uncertainties facing the Company is 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 “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unforeseeable factors could also have a material adverse effect on the future results of the Company and / or could cause our actual results and our financial position to differ materially from those indicated in the forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected. The forward-looking statements contained in this press release are made only as of the date hereof. The Company assumes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties which are not paid for by the Company. If we update one or more forward-looking statements, no conclusion should be drawn that we will make any further updates with respect to such or other forward-looking statements.
The tokens contemplated in this press release (collectively, the “Securities” have been registered under the US Securities Act of 1933, as amended (the “Securities Act”), relying on the exemption provided by Regulation S under The Securities referenced in this document are not intended for distribution, directly or indirectly, in the United States or to any person in the United States as defined in Regulation S. This announcement is not an offer of Securities for sale in 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 on behalf of or for the benefit of, United States persons (such as as this term is defined in Regulation S) unless they are registered under the Securities Act or they are exempt from registration under the Securities Act. that in accordance with S ecurities Act.
Source: NextPlay Technologies, Inc.
Company details :
NextPlay Technologies, Inc
Director of Corporate Development
Phone (954) 888-9779