The NFT Marketplace Inc signs first deal to acquire AI Mental Wellness Company

Strong AI Signs Letter of Intent with The NFT Marketplace Inc.

The NFT Marketplace Inc (OTCMKTS:NFTM)

LONDON, LONDON, UNITED KINGDOM, December 23, 2024 /EINPresswire.com/ -- The NFT Marketplace Inc. (OTC: NFTM), an emerging leader in the fintech and web3 sectors, today announced the signing of a Letter of Intent (LOI) to acquire Strong AI Invest Limited (SAII), a London-based innovator in AI-driven mental health technology.

This acquisition is consistent with NFTM's roll-up acquisition strategy, which is designed to consolidate high-growth companies with strong synergies in fintech, AI, and web3.

"Strong AI's pioneering work in mental health AI is a perfect fit with NFTM's mission to establish a comprehensive portfolio of high-growth technology companies," stated Ben Quick, CEO of NFTM. "We are enthusiastic about the prospect of incorporating Strong AI's capabilities into our overarching strategic vision, and this acquisition represents significant progress in our expansion into the digital health sector by opening new avenues in the growing mental wellness AI market."

Transaction Terms and Strategic Rationale

The acquisition is designed to facilitate NFTM's long-term objective of broadening its portfolio to include the digital health sector, which analysts state has a total addressable market of $383.31 billion is expected to grow at a 3.5% CAGR from 2024 through 2030 to $537.97 billion [https://www.einpresswire.com/article/761681014/mental-health-market-analysis-2024-size-share-and-growth-opportunities-2030] Strong AI's developing technology will offer a distinctive platform for the provision of conversational, empathetic mental health support through advanced AI.

In exchange for ten million shares of NFTM common stock, NFTM has agreed to acquire 100% of Strong AI Invest Limited's share capital. The transaction is estimated to be worth $8 million. The NFTM shares will be conveyed in five installments, contingent upon the achievement of milestones over the next twelve months, to ensure that they are consistent with NFTM's growth objectives.
The final completion of these milestones is anticipated in Q4 2025, and they include the development of Strong AI's fundamental features, crisis response capabilities, and user experience enhancements. The existing Strong AI will remain in place post completion of the Sale and Purchase Agreement (SPA).

The primary terms of the LOI

The total purchase consideration is ten million shares of NFTM common stock, which will be conveyed in installments in accordance with milestone achievements.

Milestone 1: The (SPA) is executed, and the essential infrastructure is completed, resulting in the issuance of one million shares.
Milestone 2: Two million shares after three months—advanced features for emotional intelligence.
Milestone 3: Integration of the crisis response feature— two million shares after six months.
Milestone 4: Optimisation of the user experience— two million shares after nine months.
Milestone 5: Three million shares after twelve months—pre-launch and final UX adjustments.
Exclusivity and Non-Compete:
The LOI contains a five-year non-compete provision and a 60-day exclusivity period.

About Strong AI Invest Limited [https://www.strong-therapist.com/]

Strong AI Invest Limited, which was established in London, UK, is dedicated to the development of artificial intelligence tools that are designed to offer mental health support that is both responsive and empathetic. The company's developing platform integrates AI and emotional intelligence to provide personalised, scalable mental health support. This acquisition will expand NFTM's technology ecosystem, providing new opportunities in the expanding digital health sector.

Regarding NFTM

The NFT Marketplace, Inc. (NFTM) is a technology-driven organisation that is dedicated to the consolidation of high-growth companies in the fields of fintech, AI, and web3. NFTM's objective is to establish a cohesive ecosystem that generates value for its shareholders by employing its roll-up acquisition strategy. With its roots in NFT-based hospitality, NFTM is transitioning to a role as a technology aggregator, thereby influencing the future of the digital landscape.

For additional information:
Todd Butler, Media Officer at NFTM, e: todd@thenftmmarketplace.io

Ben Quick
The NFT Marketplace Inc
+44 7931 642346
ben@thenftmarketplace.io
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