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NextPlay’s NextFintech Division Receives Commitment for $15 Million Strategic Investment; Pre-Money Valuation for NextFintech Set at $150 Million

Retrieved on:

Thursday, October 20, 2022

"In spite of the challenging market conditions, we see immediate growth and profitability potential in our NextFintech division, which has been configured to serve overseas markets," stated Nithinan Boonyawattanapisut, NextPlays principal executive officer.

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"In spite of the challenging market conditions, we see immediate growth and profitability potential in our NextFintech division, which has been configured to serve overseas markets," stated Nithinan Boonyawattanapisut, NextPlays principal executive officer.
"Over the next 6 months, we will focus our resources on achieving group profitability via the NextFintech division.
Concurrently, our HotPlay division is working on partnership deals and preparing for commercial launch of our in-game advertising platform from which is expected to start generating revenue next year.
This is an exciting time in our NextPlay and NextFintech evolution and in this turmoil, we see great opportunity.

NextPlay’s NextBank Secures $200,000,000 Revolving Credit Line Facility

Retrieved on:

Tuesday, October 11, 2022

SUNRISE, FL, Oct. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- NextPlay Technologies, Inc. (Nasdaq: NXTP), a digital native ecosystem for finance, digital advertisers, and video gamers, announced today that NextBank International, Inc. (“NextBank”), the international banking unit of NextPlay’s fintech division, has signed a Loan and Security Agreement with Savi Capital Partners, a Delaware Limited Liability Company, for a $200,000,000 revolving line of credit facility with maturity set for May 31, 2027.

Key Points:

Under the terms of the agreement, maximum loan amounts available for NextBank draw down and use are:
Proceeds drawn from the revolving line of credit facility by NextBank will be used to fund loans secured by domestic US commercial real estate properties in accordance with underwriting guidelines established by NextBank.
NextBank is seeing considerable growth in its deposit portfolio, and I expect that to accelerate in terms of absolute dollars.
This $200 million line of credit, combined with NextBanks growth in customer deposits, should have a material impact on the banks yielding asset portfolio over the next three quarters.
This growth and outlook are attracting investors and other strategic partners to NextPlays fintech division, and we are actively vetting partners and investors.

NextPlay Technologies' NextBank and Alphabit's ABCC Cryptocurrency Exchange Complete Collaboration, Expanding NextBank Regionally and Towards Banking for the Digital Community

Retrieved on:

Thursday, August 25, 2022

Ltd. ("Alphabit"), formally launching the process of bringing deposit accounts and payment cards to members of Alphabit's ABCC cryptocurrency exchange ("ABCC").

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Ltd. ("Alphabit"), formally launching the process of bringing deposit accounts and payment cards to members of Alphabit's ABCC cryptocurrency exchange ("ABCC").
We intend to continue that improvement by seeking regulatory approval to add insurance products and block chained assets to our banking services.
We are very thankful to Calvin and his excellent team for offering us a chance to grow with ABCC."
ABCC is a leading crypto exchange that is exploring the future development of cryptocurrency projects for global users.

NextPlay Technologies’ NextBank and Alphabit’s ABCC Cryptocurrency Exchange Complete Collaboration, Expanding NextBank Regionally and Towards Banking for the Digital Community

Retrieved on:

Thursday, August 25, 2022

Ltd. (Alphabit), formally launching the process of bringing deposit accounts and payment cards to members of Alphabits ABCC cryptocurrency exchange (ABCC).

Key Points:

Ltd. (Alphabit), formally launching the process of bringing deposit accounts and payment cards to members of Alphabits ABCC cryptocurrency exchange (ABCC).
We intend to continue that improvement by seeking regulatory approval to add insurance products and block chained assets to our banking services.
We are very thankful to Calvin and his excellent team for offering us a chance to grow with ABCC.
ABCC is a leading crypto exchange that is exploring the future development of cryptocurrency projects for global users.

Residual Token Inc. ($eRSDL) Merges Decentralized Finance with Traditional Finance, A Whole New Way to Bank

Retrieved on:

Tuesday, July 12, 2022

The customer acquisition funnel, from borrower prospect to funded loan, does not have a lot of prospects to feed in at the top.

Key Points:

The customer acquisition funnel, from borrower prospect to funded loan, does not have a lot of prospects to feed in at the top.
There is no inexpensive way to directly market as one can in other types of lending.
Oddly enough, costs of capital for centralized lenders are higher on crypto-backed loans than current unsecured lending rates.
Traditional custodians control risk by holding customer assets and then moving those assets upon client instruction only.

NextPlay Technologies Agrees to Strategic Sale of Reinhart Digital TV (Zappware) and NextTrip to TGS Esports; Transaction is Expected to Unlock Shareholder Value, Improve Cash Flow and Focus on Core Businesses

Retrieved on:

Wednesday, June 29, 2022

As consideration, NextPlay will receive nonvoting convertible preferred shares of TGS in the amount of US $12.2m.

Key Points:

As consideration, NextPlay will receive nonvoting convertible preferred shares of TGS in the amount of US $12.2m.
The preferred shares include certain triggering mechanisms for conversion into common shares of TGS and distribution of such common shares to NextPlay shareholders.
By streamlining our operations and intensifying our focus on our core businesses we expect to accelerate NextPlays business adoption and cash flow generation, remarked NextPlay CEO Nithinan Jess Boonyawattanapisut.
In the event of conversion, it is expected that free-trading TGS common shares will be distributed to NXTP shareholders of record.

Residual Token, Inc. ($eRSDL) Launches First Ever DeFi Pool for U.S. Companies

Retrieved on:

Thursday, June 2, 2022

Cheyenne, Wyoming--(Newsfile Corp. - June 2, 2022) - For U.S. companies holding bitcoin, ethereum or stablecoins, Residual Token, Inc. ($eRSDL) has launched the first U.S. regulatory compliant DeFi pool.

Key Points:

Cheyenne, Wyoming--(Newsfile Corp. - June 2, 2022) - For U.S. companies holding bitcoin, ethereum or stablecoins, Residual Token, Inc. ($eRSDL) has launched the first U.S. regulatory compliant DeFi pool.
U.S. companies can safely supply and borrow in a closed DeFi P2P (pool-to-peer) environment with their newly launched, regulatory compliant and advanced technological framework.
Residual Token calls the product ReserveLending+ and its purpose is to provide a safe harbor in the open ocean of DeFI.
People and companies participate by adding their liquidity (assets) into a pool that counterparties may borrow on an over-collateralized basis.

NextPlay Completes Acquisitions of AI-Powered Game Development Platform and Crypto Asset Management Technology

Retrieved on:

Thursday, May 5, 2022

The company acquired the assets, patents and video game development technology ofFighter Base Publishing, Inc. (FBP) along with its Make It Games (MIG) brand.

Key Points:

The company acquired the assets, patents and video game development technology ofFighter Base Publishing, Inc. (FBP) along with its Make It Games (MIG) brand.
Fighter Base Publishing was founded by Mark Vange, who joined NextPlay as its chief technology officer in July of last year.
We see MIGs AI technology enabling not only rapid game development, but also faster ad creation, advertising optimization, and richer metaverse experiences across our NextPlay ecosystem, stated NextPlay co-CEO Nithinan Jessie Boonyawattanapisut.
NextPlay secured the new crypto technology through the acquisition of the assets of Token IQ , Inc., an early innovator in digital asset management and smart compliant token technology that was also founded by Vange.

NextPlay Technologies Selected by DIG to Offer Fiat Payment and Banking Services for its Blockchain-Powered NFT Game, Realms of Ethernity

Retrieved on:

Tuesday, April 5, 2022

SUNRISE, Fla. and DUBAI, UAE, April 5, 2022 /PRNewswire/ -- NextPlay Technologies, Inc. (Nasdaq: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, has entered into a preliminary agreement with Decentralised Investment Group (DIG), a leading global blockchain technology company, to develop and operate an exclusive fiat payment platform for DIG customers.

Key Points:

This would initially include in-game assets from Realms of Ethernity (RoE), the world's first MMORPG (massively multiplayer online role-playing games) game.
The payment platform would allow customers to purchase and sell in-game assets using fiat currencies.
NextBank would also offer bank accounts to DIG customers for their fiat deposits, subject to the customer passing NextBank compliance verification.
NextBank plans to issue payment cards to DIG customers who have funded their bank accounts at NextBank.

NextPlay Technologies Selected by DIG to Offer Fiat Payment and Banking Services for its Blockchain-Powered NFT Game, Realms of Ethernity

Retrieved on:

Tuesday, April 5, 2022

This would initially include in-game assets from Realms of Ethernity (RoE), the world's first MMORPG (massively multiplayer online role-playing games) game.

Key Points:

This would initially include in-game assets from Realms of Ethernity (RoE), the world's first MMORPG (massively multiplayer online role-playing games) game.
The payment platform would allow customers to purchase and sell in-game assets using fiat currencies.
NextBank would also offer bank accounts to DIG customers for their fiat deposits, subject to the customer passing NextBank compliance verification.
NextBank plans to issue payment cards to DIG customers who have funded their bank accounts at NextBank.