MESA, AZ / ACCESSWIRE / October 6, 2022 / Medical Care Technologies, Inc. (OTC PINK:MDCE) today announced that it completed its acquisition of 100% of the membership units of sports memorabilia auction house Infinite Auctions LLC. Infinite Auctions will now operate as a wholly owned subsidiary of MDCE. Mr. Marshall Perkins, the founder of Infinite Auctions will now serve as President and CEO of MDCE. Mr. Perkins was one of the early pioneers of the photo matching authentication process that is now standard for authenticating high-end sports memorabilia.
Mr. Perkins stated, "Infinite Auctions has experienced rapid revenue growth over the last few years. The sports memorabilia industry is one of the fastest growing industries in the world, and this business combination provides us with access to additional capital markets that will allow us to substantially increase our memorabilia asset base and accelerate our revenue growth trajectory going forward."
Founded in 2015, Infinite Auctions provides an online platform for memorabilia collectors and professional athletes to consign and sell high valued collectibles in a secure online auction format. Infinite Auctions specializes in the auctioning of game-worn sports memorabilia, including jerseys, helmets, bats, and other items worn or used by athletes in professional sporting events. The company also auctions high-end sports cards, trading cards, fine autographs, Americana, and other valuable antiquities. Infinite Auctions also offers a private sale brokering program that connects sellers and buyers outside of auction for quicker sales.
In addition to its core memorabilia business, the company recently announced its intentions to create an NFT marketplace of digital media experiences based on its sports memorabilia assets. The company will be attending the Web 3 Expo in Las Vegas, Nevada, October 10-13, 2022, along with some of the leading visionaries, speakers, personalities, and investors in the Web 3 space.
With this business combination, MDCE enters the $26 billion sports memorabilia market that is expected to climb to over $200 billion by 2032. Details on the company's vision, business strategy, and its plans for the new NFT marketplace will be released in the coming weeks.
About Infinite Auctions LLC.
Infinite Auctions provides an online platform for memorabilia collectors and professional athletes to consign and sell high valued collectibles in a secure online auction format. Infinite Auctions specializes in the auctioning of game-worn sports memorabilia, including jerseys, helmets, bats, and other items worn or used by athletes in professional sporting events. The company also auctions high-end sports cards, trading cards, fine autographs, Americana, and other valuable antiquities. Infinite Auctions also offers a private sale brokering program that connects sellers and buyers outside of auction for quicker sales.
About Medical Care Technologies, Inc.
Medical Care Technologies, Inc. seeks to capitalize on the fast-growing memorabilia and collectibles market by consolidating companies in the collectibles space and acquiring high value collectible assets. The company is negotiating multiple joint ventures and developing new platforms to create additional revenue streams from our memorabilia asset portfolio.
Contact Information:
https://twitter.com/SportsAuction1
https://www.infiniteauctions.com
https://www.medcaretechinc.com
Shareholder/Investor inquiries for Medical Care Technologies, Inc.:
Medical Care Technologies, Inc. / Infinite Auctions LLC
1- 480-645-0750
contact@medcaretechinc.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Medical Care Technologies, Inc.
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