NextPlay Technologies Inc. (NASDAQ:NXTP) Stock Turns Volatile: But Why?
NextPlay Technologies Inc. (NASDAQ:NXTP) share lost 2% in the last session after announcing a collaboration with NFT Pro and Soma innovation Lab to unveil NextPlay X Soma Labs.
Market Stats
On Wednesday, NXTP stock lost 1.53% to $1.2900 with more than 16.34 million shares, compared to its average volume of 5.68 million shares. The stock has moved within a range of $1.2700 – 1.5300 after opening trading at $1.3000.
Launches NextPlay X Soma Labs
NextPlay X Soma Labs is an innovation and digital design lab focusing on developing NFTs metaverse virtual worlds and social games for creators, agencies, and major brands. The partnership will leverage NFT Pro’s NFT tech platform, Soma’s extended reality solutions, NextPlay’s novel fame development, in-game advertising, connected TV, travel booking platform cryptocurrency banking, and other digital technologies to create foundational pathways to the Metaverse.
Metaverse has been dubbed the Internet’s next evolution. It is an immersive virtual world incorporating virtual reality, augmented reality, interactive video, 3D holographic avatars, and other digital interaction and communication means.
But, most importantly, the Metaverse is an alternative world where users can interact via computer screen or using glasses for an enhanced immersive experience. So in the coming months, investors should keep an eye on NXTP.
Key Quote
“NextPlay X Soma Labs will help shape and grow the fast-evolving world of digital goods and tokens, and the emerging Metaverse,” commented Soma Innovation Lab’s CMO, Karen Morgan. “The importance of brands, creators and agencies to enter this space with elevated urgency was recently highlighted with the renaming of Facebook to Meta and it stated new focus on the vast emerging opportunities for global consumer engagement and monetization presented by the Metaverse.
