Revitalist to Develop Revitaland - Virtual Clinics in the Metaverse

Rhea-AI Summary

Revitalist Lifestyle and Wellness (CSE: CALM, OTC: RVLWF) has announced a binding letter of intent with Metachain Technologies Inc. to establish virtual mental health clinics in the Metaverse. The initiative aims to enhance access to mental health services through real-time virtual sessions, cryptocurrency payments, and a rewards program utilizing NFTs. The collaboration emphasizes the global reach and efficiency of digital therapy while maintaining traditional therapies for specific conditions. This move aligns with the growing demand for accessible mental health solutions amid increasing societal challenges.

Positive

• Development of Revitaland, a virtual mental health clinic, enhancing accessibility.
• Introduction of a cryptocurrency token for payments within the mental health services.
• Implementation of NFT rewards for patients, promoting engagement.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is pleased to announce it has executed a binding letter of intent (“LOI”) with Metachain Technologies Inc. (“META”), to develop virtual mental health clinics in the Metaverse with real time patients and mental health professionals.

The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence. This virtual world allows real people to gather, socialize, play and work with other people who aren’t in the same physical space. A peer-reviewed study by Oxford University psychologist concluded that patients who used automated VR therapy experienced a 38% decrease in anxiety and avoidant symptoms over a six-week period.

The initial projects that will be developed in 2022 by META on behalf of Revitalist are as follows:

1. Develop a virtual clinic in the Metaverse (“Revitaland”) which will allow patients to attend virtual mental health sessions with Revitialist mental health professionals in real time;
2. Create a cryptocurrency token that can be used for payment for mental health services at Revitaland and carry other utility in the digital real; and
3. Create non-fungible tokens (“NFT’s”) that will act as a rewards program for the completion of a set number of mental health sessions. These NFT’s will be minted by META and will give future trading flexibility to Revitalist patients in the virtual marketplace. Examples of NFT’s will include digital wearable, art, music, big sports moments, video game items and other collectible items.

Matthew Connelly, CEO of META stated “We are excited to work with Kathryn and the Revitalist team to develop Revitaland as a mental health virtual clinic. This is a perfect fit for the Metaverse given the convenience and anonymity that it offers to Revitalist patients. We have a team of over 30 developers that are well versed in tokenization, virtual reality, augmented reality, Metaverse development as well as Decentralized finance. All of these play a key role when developing protocols in the Metaverse.”

Kathryn Walker, CEO of Revitalist stated “In the past we were 100% focused on brick and mortar mental health clinics. Technology allows us to span our offering around the globe in a much more efficient and effective manner. The Metaverse will not replace certain therapies such as Ketamine IV infusions however it will provide patients with optionality with regards to initial intake with a mental health provider and ongoing follow up sessions. Mental health doesn’t discriminate, doesn’t have borders and is only getting worse in today’s society. We want to reach as many people as possible and provide our mental health solutions to their every day lives. Working with Matthew and his team at META will allow us to do this much quicker compared to traditional face to face in person sessions.”

ABOUT METACHAIN TECHNOLOGIES INC.

Metachain Technologies Inc. is a private company that is focused on developing technologies in blockchain, NFT’s, crypto currency and the metaverse. Metachain’s mission is to help companies discover hidden revenue opportunities by way of tokenization, NFT’s and fully utilizing the metaverse.

ABOUT REVITALIST LIFESTYLE AND WELLNESS

Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is a publicly traded company, headquartered in Knoxville, Tennessee, with five clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided thousands of infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness. For additional information and to be added to the Company’s mailing list, please click here.

Twitter: @RevitalistCorp
Facebook: @RevitalistLifestyleandWellnessLtd.
Instagram: @RevitalistCorp
LinkedIn: @RevitalistLifestyleAndWellnessLtd

Forward Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005581/en/

On Behalf of the Board

Kathryn Walker

Chief Executive Officer

For further information please contact:

Revitalist Lifestyle and Wellness Ltd.

Email: IR@revitalist.com

Tel: (865) 585-8414

Source: Revitalist Lifestyle and Wellness Ltd.

FAQ

What is Revitalist's new partnership about?

Revitalist has partnered with Metachain Technologies to create virtual mental health clinics in the Metaverse.

What services will the virtual clinic Revitaland offer?

Revitaland will provide virtual mental health sessions with professionals in real-time.

How will payments be handled at the new virtual clinic Revitaland?

Payments at Revitaland will be facilitated through a new cryptocurrency token.

What role will NFTs play in Revitalist's virtual clinic?

NFTs will be used as a rewards program for patients completing mental health sessions.

What are the expected benefits of this virtual clinic initiative for Revitalist's patients?

This initiative aims to provide greater accessibility and convenience for patients seeking mental health support.