Nextplay Technologies Inc Stock Price, News & Analysis

NextPlay Technologies (Nasdaq: NXTP) has announced a definitive agreement to acquire 100% of Token IQ's assets, an innovator in digital asset management. This acquisition aims to enhance NextPlay's capabilities in cryptocurrency management, particularly addressing custody risks and regulatory compliance, including KYC and AML requirements. The integration of Token IQ's technology into NextBank is expected to serve cryptocurrency customers better. The deal is subject to NextPlay shareholders' approval and signals NextPlay's intent to strengthen its fintech ecosystem.

NextPlay Technologies, Inc. (NXTP) announced the acquisition of AI-powered video game development platform Make It Games (MIG) from Fighter Base Publishing, Inc. This strategic purchase aims to enhance NextPlay's capabilities in game development and monetization. MIG's AI technology allows developers to create realistic characters and significantly reduce animation costs by 70%. The acquisition includes pending patents and aims to drive revenue through licensing agreements. NextPlay's leadership believes this will accelerate global initiatives and facilitate expansion into the metaverse.

NextPlay Technologies (Nasdaq: NXTP) announced a strategic partnership with Mediakeys, a global leader in digital advertising. This collaboration aims to enhance HotPlay, NextPlay's in-game advertising platform, by leveraging Mediakeys' extensive global presence. HotPlay allows advertisers to seamlessly integrate brand messages within games, providing an additional revenue stream for developers and a unique interactive experience for players. The partnership is expected to significantly increase revenue opportunities and improve access to a global market of 2.9 billion gamers.

NextPlay Technologies (Nasdaq: NXTP) has formed NextCapital, consolidating its financial services and fintech operations, including the acquisition of NextBank International. Led by J. Todd Bonner, NextCapital aims to provide alternative asset management and insurance products designed to perform during market volatility. The company is applying for licenses to offer these services by Q3 2021. The strategy includes collaboration with multinational conglomerates for low-correlation assets and support for the global crypto community.

NextPlay Technologies (NASDAQ: NXTP) announced the completion of its acquisition of International Financial Enterprise Bank (IFEB), headquartered in Puerto Rico, on July 21, 2021. The acquisition included a total consideration of $11.2 million—$6.4 million for a 57.1% stake, and $4.8 million paid through the issuance of shares for the remaining stake. With the acquisition, NextPlay aims to enhance its Fintech solutions, including online banking and mobile services, while rebranding IFEB to NextBank International.

NextPlay Technologies, Inc (NASDAQ: NXTP) announced the appointment of Nithinan (Jessie) Boonyawattanapisut as co-CEO. She brings extensive experience as the founder of HotPlay Enterprise and has held leadership positions in several tech companies. Co-CEO Bill Kerby emphasized her technical expertise and industry connections, which will advance NextPlay's digital strategy and revenue opportunities. Boonyawattanapisut expressed her excitement about leading the company's strategic direction, collaborating with Bill and the team to position NXTP for success in the digital advertising and gaming sectors.

NextPlay Technologies has appointed Mark Vange as Chief Technology Officer. Vange brings extensive experience in technology and game development, including previous roles at HotPlay Thailand and Electronic Arts. His appointment is expected to enhance NextPlay’s technology initiatives, particularly in in-game advertising and blockchain systems. Co-CEO Bill Kerby expressed optimism regarding Vange’s contributions towards maximizing revenue through innovative technology. NextPlay operates a digital ecosystem involving games, crypto-banking, and travel services, all aimed at leveraging advanced advertising and fintech solutions.

NextPlay Technologies, Inc. (NASDAQ: NXTP) has appointed Ms. Carmen Diges to its Board of Directors. With over 20 years of experience as a senior attorney and corporate advisor, Ms. Diges brings valuable expertise to the company. She currently serves as General Counsel for McEwen Mining and has held leadership roles in various law firms. Co-CEO Bill Kerby expressed confidence in Ms. Diges' ability to help close deals and attract new business, strengthening the company's strategic direction.

Monaker Group, Inc. is transitioning to NextPlay Technologies, Inc., trading under the ticker NXTP starting July 9, 2021. This name change follows the acquisition of HotPlay Enterprise Limited, which enhances NextPlay's digital ecosystem in gaming, advertising, and fintech. The company aims to leverage synergies across its offerings, including AI-powered advertising technology and connected TV services. Shareholders are not required to take action regarding the name or ticker change. A new website is set to launch by July 12, 2021.