08:09 AM EDT, 10/28/2025 (MT Newswires) -- NextGen Digital Platforms ( NXTDF ) Tuesday said it has entered into a non-binding letter of intent with Resi to look into forming a joint venture for the development of Resi's AI-based real estate intelligence platform.

Resi generates revenue by providing AI-driven property data and analytics to participants in the real estate market.

Under the proposed 50/50 JV, Resi will focus on technology development and infrastructure, and NextGen would contribute resources toward enterprise sales, marketing and go-to-market activities.

NextGen intends to invest US$200,000 in Resi through a Simple Agreement for future equity with a $20 million valuation cap. Proceeds will be allocated 75% to the JV's working capital and 25% to NextGen's sales and business development activities in support of the JV.

NextGen also plans to purchase $100,000 of RESI's Alpha tokens, which will be subject to a six-month lock-up period.

NextGen will have a non-voting board observer seat, receive quarterly reports and participate in weekly coordination calls with the JV team.

The parties intend to execute definitive agreements within 30 days of signing the LOI.

Deal completion is subject to the negotiation and execution of a definitive agreement, receipt of all necessary regulatory approvals and satisfaction of other customary conditions.