Nextgen signs LOI with Resi Labs for AI real estate JV

Executive Summary

• Nextgen Digital Platforms Inc. has signed a non-binding Letter of Intent (LOI) with Resi Inc. to explore the formation of a 50/50 joint venture (JV) to scale Resi's AI-based real estate intelligence platform on the Bittensor network.
• The proposed transaction involves Nextgen investing $200,000 USD in Resi via a Simple Agreement for Future Equity (SAFE) with a $20 million USD valuation cap, alongside a $100,000 USD purchase of Resi's Alpha tokens subject to a six-month lockup.
• The JV will be structured as a new British Columbia corporation, with Nextgen contributing enterprise sales and marketing resources while Resi focuses on technology development and infrastructure.

Key Details

• Investment Structure: Nextgen intends to invest $200,000 USD in Resi through a SAFE instrument with a $20 million USD valuation cap.
• Token Purchase: Nextgen plans to purchase $100,000 USD of Resi's Alpha tokens (subnet-specific token of Subnet 46), subject to a six-month lockup period.
• Use of Proceeds: Proceeds from the SAFE investment are expected to be allocated 75% to the working capital of the JV and 25% to Nextgen's sales and business development activities in support of the JV.
• JV Structure: The parties intend to form a new British Columbia corporation owned 50/50 by Nextgen and Resi to manage commercialization, enterprise contracts, integrations, and revenue-sharing.
• Governance: Nextgen will receive a non-voting board observer seat, quarterly reports, and participate in weekly coordination calls with the JV team.
• Timeline: The parties intend to use best efforts to execute definitive agreements within 30 days of signing the LOI.
• Strategic Context: This transaction follows Nextgen's previously announced TAO staking initiative with RoundTable21 on September 23, 2025, aiming to extend exposure to the Bittensor ecosystem's infrastructure and application layers.
• Conditions Precedent: Completion is subject to the negotiation of definitive agreements, regulatory approvals (including the Canadian Securities Exchange), and other customary conditions.

Notable Quotes

• "Resi has developed a practical implementation of Bittensor technology. Rather than focusing on theoretical applications of AI and decentralization, the company has built a functioning subnet designed to ingest, verify and monetize real estate intelligence at scale, and has reported early commercial activity," said Matthew Priebe, chief executive officer of Nextgen.
• "Resi's approach seeks to apply decentralized computing and crypto-economic incentives to one of the world's largest and most fragmented asset classes -- real estate -- by creating an open data network that other developers can build upon. We believe this model has the potential to improve access to property information, mortgage risk data, valuations and insurance analytics, using decentralized systems rather than traditional centralized infrastructure."