Fredericton, New Brunswick (NYSE:), Dec. 20, 2024 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (CSE:NXT) (The next generation or a company) is pleased to provide company updates on its existing business platforms, and announce its new strategic expansion to acquire and hold positions in certain cryptocurrencies, including (Sol), Ripple (), and (Doug).
Work progress updates
The AI workstation purchases, which the company previously announced on November 28, 2024, are now under delivery, following logistical challenges faced by the company's initial supplier and the company's subsequent engagement with a new supplier to ensure timely procurement. These workstations will expand the company's hardware-as-a-service business known as Cloud AI Hosting Fleet, which is a revenue-generating business that the company continues to grow. Cloud AI Hosting is developed in-house by NextGen.
Additionally, the Company is pleased to announce the successful completion of a social media marketing campaign for its e-commerce platform, PCSections.com (Computers). PCS achieved an increase in revenue compared to the previous fiscal quarter. PCS was developed internally by NextGen and has been in operation for approximately two years.
Strategic expansion
In keeping with NextGen's long-standing mission to develop and acquire digital platforms for revenue-generating micro-technology, the company is pleased to announce the launch of its third business line, which aims to provide NextGen and its investors with exposure to the rapidly expanding cryptocurrency sector. This also helps diversify the company's technology holdings across e-commerce, AI and now Web3.
The company's strategic expansion to acquire and hold SOL, Ripple and DOGE is expected to establish NextGen as a publicly traded agent for this curated basket of cryptocurrencies, enabling investors to access the growing digital asset market through traditional equity markets.
This expansion also leverages NextGen's previous exposure to the cryptocurrency sector through its inaugural platform, CryptoASICMining.com (Cam), the predecessor of PCS, as described in the company's press release dated November 29, 2024. While CAM eventually evolved into PCS, which remains the company's first digital platform, it provided the company's leadership and operational staff with valuable digital asset infrastructure experience and a better understanding of the potential opportunities within this sector.
As the digital asset market continues to rapidly develop and mature, so must the company. This strategic expansion reflects another step in the company's evolution and expands NextGen's mission to include democratizing access to cryptocurrencies by providing investors exposure to digital assets, without some of the complexities associated with direct ownership of cryptocurrencies. With this third business, NextGen adds to a corporate goal of becoming a public entity providing exposure to a diversified basket of cryptocurrencies.
About Solana, XRP, and Dogecoin
1. Solana (the sun)
Solana is a high-speed, low-cost, and large-scale blockchain platform launched in 2020. With the ability to support up to 65,000 transactions per second at significantly lower speeds, Solana is a leading platform for a wide variety of decentralized finance (Decentralized finance), non-fungible tokens (NFTs), and Web3(1)(2) applications. Solana's growing developer ecosystem and widespread adoption makes it a cornerstone of the cryptocurrency market.
Next generation perspective:
By acquiring and retaining Solana, NextGen intends to capitalize on the demand for DeFi and blockchain-based applications and solutions, giving investors exposure to one of the most promising and advanced ecosystems in the digital asset space “in the opinion of management.”
2. Ripple (Ripple)
XRP, developed by Ripple Labs, is a high-speed, scalable, and decentralized public blockchain that aims to improve global payments by enabling faster, cheaper, and more reliable cross-border transactions. Unlike traditional payment systems, which in some cases can take days to settle, XRP proposes to facilitate near-instantaneous transactions at a fraction of the cost(3).
Next generation perspective:
NextGen views XRP as an important asset in the future of global institutional finance, offering investors exposure to a cryptocurrency that aims to bridge the gap between blockchain and traditional banking systems.
3. Dogecoin (DOGE)
Initially launched as an open source meme-based cryptocurrency, Dogecoin has evolved into a real-world transaction enabler for accepted digital assets. Backed by a passionate community and high-profile endorsements, Dogecoin is increasingly being used for micropayments, tips, and e-commerce(4). Its cultural significance and simplicity make it an accessible entry point for new cryptocurrency users.
Next generation perspective:
By acquiring and holding Dogecoin, NextGen hopes to opportunistically reach mainstream adoption, offering investors the opportunity to be part of the expected growth and popularity of the community-driven cryptocurrency.
Interim CEO Statement:
Our strategic expansion is aligned with NextGen's long-term mission, through which we give our investors exposure to exciting emerging digital platforms for the exact technologies we have incubated or acquired. Through this expansion, we at NextGen hope to democratize investing in cryptocurrencies. By becoming a public steward of a curated basket of these selected cryptocurrencies, we intend to offer investors a gateway into the digital asset economy. This strategy reflects our confidence in the long-term potential of blockchain technology and its impact on finance, commerce and society,” said Alexander Tjiang, interim CEO of NextGen.
Additional corporate developments
Further to the Company's news release dated December 20, 2024, in which the Company announced its three-month marketing engagement with Machai Capital Inc. (Okay), the Company entered into an amended agreement with Machai dated December 20, 2024 (the “Agreement Amended Mashai Agreement) To amend the marketing services agreement with Machai Company ( The original Machai Agreement). Under the Machai Agreement Amendment Agreement, the Company and Machai have agreed to reduce Machai's marketing budget from C$155,000 (plus GST) to C$75,000 (plus GST) ( Machai budget). All other terms of the original Machai Agreement remain unmodified. For more information about the Company's involvement with Machai, please refer to its news release dated December 20, 2024. Machai and its principals directly own 954,042 common shares in the Company.
market an opportunity (So:)
As global adoption of cryptocurrencies continues to accelerate, the market for publicly traded agents that enable investors to access the digital asset space is becoming increasingly more important. Cryptocurrency activity and usage are at an all-time high, with nearly 220 million active addresses as of September 30, 2024(5). However, barriers such as regulatory uncertainty, custody complexities, and technical knowledge gaps limit direct access for many investors.
NextGen hopes to fill this gap by offering an accessible alternative to direct investments in cryptocurrencies.
About NextGen Digital Platforms Inc.
NextGen Digital Platforms Inc. (CSE: NXT) is listed on the Canadian Stock Exchange. The company currently operates the e-commerce platform PCSections.com (Computers) and the hardware-as-a-service business that supports the AI sector, called cloud AI hosting (AI cloud hosting). Both PCS and Cloud AI Hosting are developed in-house by NextGen. The company also intends to democratize access to cryptocurrencies by providing investors with exposure to a diversified basket of digital assets through a regulated public medium. From time to time, the Company also intends to evaluate, acquire or develop other precision technology platforms.
For more information:
Alexander Taijiang, Interim CEO
(416) 300-7398
https://nextgendigital.ca/
Žinfo@nextgendigital.ca
Caution regarding forward-looking information
Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements contained herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is often, but not always, identified by words such as “anticipates,” “anticipates,” “believes,” “intends,” “estimates,” “potential,” “potential,” and the expressions or similar data. That events, conditions or results “will”, “may”, “could” or “should” occur or be achieved.
Forward-looking information in this press release includes, but is not limited to, statements regarding the delivery and operation of Cloud AI hosting workstations, the Company's future cryptocurrency investment plans and strategies, the Company's proposed strategic expansion and growth strategies, the Company's ability to provide investors with exposure to digital assets, and the success The potential for its investments and branding, the growth of Solana, XRP, DOGE and other digital assets and the mainstream adoption of various cryptocurrencies. Forward-looking information reflects the beliefs, opinions and expectations at the date the statements are made and is based on a number of assumptions and estimates, including those relating to the timely delivery of the workstation, the adoption of cryptocurrency, and the Company's ability to implement its cryptocurrency business strategy. , which, while considered reasonable by the Company, are inherently subject to significant business, technical, economic and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, but are not limited to, the Company's ability to execute its business plans and investments; operational and technological risks related to hosting Cloud AI; the Company's ability to raise debt or equity through future financing activities; the Company's ability to increase its investments in cryptocurrency-based technologies; any adverse changes and developments related to Solana, XRP, DOGE or the cryptocurrency ecosystem; Growth and development of the decentralized finance and digital assets sector; any new rules and regulations regarding decentralized finance and digital assets; the inherent volatility of the prices of certain cryptocurrencies including Solana, XRP and DOGE; increased competition in the cryptocurrency and blockchain industries; general economic, political and social uncertainties in Canada and the United States; Currency exchange rates and interest rates; The company's limited financial and human resources; the Company's reliance on the experience and judgment of senior management and the Company's ability to attract and retain key employees; the speculative nature of cryptocurrencies in general; The company's ability to continue as a going concern.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update the forward-looking statements contained herein except as required by applicable securities laws. Investors are cautioned not to attribute undue certainty to the forward-looking statements contained herein.
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Source: NextGen Digital Platforms Inc.
