Nxt-ID Inc. (NASDAQ: NXTD) is starting the new year out strong on news of a strategic partnership, despite weakness in China and the Dow. WorldVentures announced a definitive agreement with Nxt-ID calling for WorldVentures to make a strategic investment of $2 million in Nxt-ID to develop a proprietary new wireless smart card for its members.
The smart card will be customized with additional technologies and wireless features, such as the ability to seamlessly integrate with WorldVentures’s DreamTrips App to wirelessly check in and earn loyalty points towards free DreamTrips vacations at select restaurants. DreamTrips is a travel club and entertainment community in which members enjoy exciting excursions year-round to extraordinary destinations.
Additionally, WorldVentures has high expectations for this new smart card:
- Replace all cards in the user’s wallet.
- Store hundreds of credit cards, loyalty cards, records and other data, and be used virtually anywhere payment can be made with a credit card.
- Offers added identity protection for increased peace of mind while traveling.
- Allow Members to earn points at select restaurants worldwide that can be used towards DreamTrips vacations.
- Foster social interactive engagement with DreamTrips Members worldwide through its wireless App and card communication features.
Wayne Nugent, World Ventures co-founder and chief visionary officer, commented:
In this high-tech, hyper-connected world, we are enabling people to use technology in a more powerful and compelling way. And our Independent Representatives will be able to bring this exciting new innovation to travelers all over the world, making their experiences richer, safer, and more engaging and rewarding.
Ultimately, WorldVentures believes that this collaboration with the Nxt-ID will not only set it apart in the direct selling industry, but will allow it to develop the most technologically advanced human networking interactions through new products while continuously enhancing its current product set.
Shares of Nxt-ID were trading up 12.4% at $0.27 Monday morning, with a consensus analyst price target of $4.38 and a 52-week trading range of $0.16 to $4.20.