NextPlay Technologies, Inc. announces plans to introduce a new one. known

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SUNRISE, FL, October 20, 2021 (GLOBE NEWSWIRE) – via NewMediaWireNextPlay Technologies, Inc. (NASDAQ: NXTP) (the “Company” or “NextPlay”), a digital business ecosystem for consumers, digital advertisers, video gamers and travelers, today announced plans to create the MedTrek Fund, which is expected to be a blockchain-securitized closed-end fund. The Fund is expected to seek listing on several regulated exchanges after its inception, subject to regulatory approval.

The company has developed a new class of medical devices that incorporate unique geometries and technologies that it believes will reduce the spread of infection.

According to a 2019 report by the World Health Organization (“WHO”), 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 medical care infections (“HAIs” ) at a certain point in time.

The new class of medical devices to be developed by the fund aims to combine proprietary physical designs and technologies with the aim of protecting patients from the spread of infection and damage from physical intrusion.

The company anticipates that once the fund is established, it will be able to offer infection reduction facilities for four medical asset classes including primary care, tertiary care, long-term care and recreational facilities. The fund is also expected to invest in wellness-focused residential and commercial facilities integrated into the proposed physical and technological layers.

NextPlay is in talks with major landowners in several countries to bring their real estate assets to the proposed fund. These countries, including Thailand, which had the largest share of medical tourism in the world in 2019 (as per the Grandview Research report discussed below), have seen a significant decline in tourism due to COVID-19, but medical tourism is expected to be in the United States robust growth in the coming years. In addition, NextPlay is also in talks with certain medical providers around the world who are interested in providing services in facilities that resist the spread of infection and offer a higher level of physical security.

The Fund’s initial focus is expected to be on Southeast Asia, where we believe such 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 having the largest market share.

Bill Kerby, Co-CEO of NextPlay, stated: “The MedTrek token is set to be the first of several crypto-evidenced alternative assets that we are expected to issue through our FinTech division, which includes our indirect stake in Longroot Holding (Thailand) Company Limited owned. We believe that through our efforts to date, we have identified opportunities in medical tourism and its surroundings. We leverage our partners’ deep understanding of real estate development and believe we can help catalyze the growth potential we see in medical tourism through the use of common sense and the latest technologies such as Internet of Things and machine learning. “

The Proposed Fund described above has not yet been established and such formation and anticipated benefits and offers are subject to numerous risks and uncertainties and may not progress as currently expected or on schedule.

The company’s short video explaining MedTrek is available here.

About NextPlay technologies

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company providing games, in-game advertising, crypto banking, connected TV, and travel booking services to consumers and businesses within a growing global digital ecosystem. NextPlay’s appealing 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 information on forward-looking statements and disclaimers

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements reflect our current expectations, opinions, beliefs or projections about future events and performance. A statement that is identified by the use of forward-looking words, including “will,” “may,” “expect,” “project,” “anticipate,” “plan,” “believe,” “estimate,” “should,” and sure the other statements above may be viewed as 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 could cause actual future activities and results to differ materially from those proposed or described in this press release.

Factors that could cause such a difference include risks and uncertainties in connection with our need for additional capital that may not be available or not available on economically acceptable terms, which puts our ability to continue as a going concern; certain required regulatory approvals that may not be met within our expected timeframe, if at all; the fact that the COVID-19 pandemic has had, and is expected to have, a material significant negative impact on the travel industry and our business, results of operations and liquidity; amounts owed to us by third parties that cannot be paid or cannot be paid on time; certain amounts we owe on outstanding debt that is backed by substantially all of our assets and penalties we incur in connection therewith; the fact that we have significant debt that could adversely affect our business and financial condition; Uncertainty and illiquidity in the credit and capital markets, which can affect our ability to obtain credit and financing on acceptable terms and affect the financial strength of our business partners; our ability to timely, or at all, complete the acquisition of certain Fighter Base and Token IQ intellectual property rights as previously disclosed; the company’s officers and directors have the opportunity to exercise significant influence and voting rights over the company; Our efforts to fund, meet commitments, and complete acquisitions can cause shareholders to be significantly diluted by issuing additional common or preferred shares; if we cannot adapt to changes in technology, our business could be damaged; Failure to adequately protect our intellectual property could affect our competitiveness; our long-term success in the travel business depends in part on our ability to expand our homeowner, property manager and traveler base outside of the United States, and therefore our travel business is vulnerable to risks associated with international activity; adverse changes or interpretations of government regulations or taxation in the evolving ALR, internet and e-commerce industries that could harm our operating results; Risks related to the operation, business 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), and our compliance with applicable U.S. and Thai laws in connection therewith; the market in which we participate is highly competitive and as a result we may not be able to successfully compete with our current or future competitors; our potential inability to adapt to changes in technology that could harm our business; the volatility of our share price; Risks associated with integrating the operations of HotPlay Enterprise Limited, which we recently completed to acquire; the fact that we may be held liable for the activities of our property owners and managers, which could damage our reputation and increase our operating costs; and that we have suffered significant losses to date and require additional capital that may not be available or not available on economically acceptable terms. Additional information about the risks and uncertainties to which the company is exposed will be disclosed from time to time in the company’s periodic reports filed with the SEC, including the most recent annual report on Form 10-K and the quarterly reports on Form 10-Q at Headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unforeseeable factors could also have a material adverse effect on future results of the company and / or cause our actual results and financial condition to differ materially from those expressed in the forward-looking statements. Investors are cautioned that forward-looking statements are no guarantees of future performance and that actual results or developments may differ materially from those forecast. The forward-looking statements in this press release speak only as of the date of this release. The company assumes no obligation to update or revise 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, it should not be inferred that we are additionally updating these or any other forward-looking statements.

The tokens provided for in this press release (collectively the “Securities”) have been registered under the Securities Act of 1933, as amended (the “Securities Act”) in reliance on the exemption under Regulation S below. The securities referred to herein are not intended for sale, directly or indirectly, in or in the United States or to US persons within the meaning of 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 for the account or for the benefit of any US person (as that term is defined in Regulation S), except in accordance with the Securities Act or they are exempt from registration under the Securities Act. Hedging transactions with these securities may only be carried out in accordance with the Securities Act.

Source: NextPlay Technologies, Inc.

Company contact:

NextPlay Technologies, Inc

Richard Marshall

Corporate Development Director

Tel (954) 888-9779

[email protected]

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