Mission NewEnergy snaps up blockchain sports leader, PlayUp
Published 16-APR-2018 15:00 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Dual-listed renewable energy company, Mission NewEnergy Limited (ASX:MBT | OTC:MNELF), has signed a heads of agreement to acquire PlayUp Limited.
PlayUp is situated in one of the most rapid-growth tech segments, and is set to emerge as a global market leader in blockchain-enabled fantasy sports, sports betting and online gaming.
This transaction will see MBT wholly acquiring PlayUp via reverse merger (RTO). The merger process provides a clear pathway to global capital markets, enabling rapid local and international growth.
Once the acquisition is completed, the company will seek to be re-listed on both the ASX and NASDAQ.
Based on MBT’s due diligence and warrantees made by PlayUp directors, it is understood that PlayUp currently has around 400,000 registered users. It is also represented by sporting legend, Brett Lee, who has a social network of over four million sports fans.
According to Legal Sports Report, daily fantasy sports revenues are predicted to exceed US$14.4 billion globally by 2020. According to Research and Markets, moreover, online gambling, which is growing at a compound annual growth rate (CAGR) of 10.81 per cent, is set to exceed US$500 billion.
PlayUp will deliver the world’s first fully integrated, blockchain-enhanced, global fantasy sports, online sports betting and gaming ecosystem. Underpinning this is the PlayChip Utility Token, a cryptocurrency built on the Ethereum blockchain, specifically designed for use as a universal payment and rewards system for the online gaming industry.
PlayUp is the first distribution partner of the PlayChip and will form a foundation for the decentralisation of the PlayUp platform and allow sports fans to connect, compete and collect, regardless of their location.
PlayUp has committed to engage investment bank and financial advisory firms, Investorlink Group in Sydney, and Chardan Capital Markets LLC in New York, to assist with the transaction.
The company anticipates a capital raising of US$40 million.
Daniel Simic, PlayUp founder and CEO, said: “The PlayChip is a unique offering, which will deliver function, utility and value to the entire PlayUp ecosystem. The network effects of successful cryptocurrencies are astounding and by introducing the PlayChip, we envisage significant user growth as we address the demands of a growing and key market segment of the global online gaming community.”
“We expect that with the successful integration of blockchain technology and the completion of ASX and NASDAQ listings, our company will be positioned to be a dominant player on the global stage in fantasy sports, online gaming, as well as the emerging blockchain technology sector,” added Simic.
Of course, as always, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
