Revitalist sign LOI to develop virtual clinic
REVITALIST LIFESTYLE and Wellness Ltd. has executed a binding letter of intent with Metachain Technologies Inc. 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 3-D 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 are not in the same physical space. A peer-reviewed study by Oxford University psychologist concluded that patients who used automated VR (virtual reality) therapy experienced a 38-percent decrease in anxiety and avoidant symptoms over a six-week period.
The initial projects that will be developed in 2022 by Metachain on behalf of Revitalist are as follows:
1. Develop a virtual clinic in the Metaverse (Revitaland), which will allow patients to attend virtual men tal heal th ses sions 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 realm;
3. Create non-fungible tokens (NFTs) that will act as a rewards program for the completion of a set number of mental health sessions; these NFTs will be minted by Metachain and will give future trading flexibility to Revitalist patients in the virtual marketplace; examples of NFTs will include digital wearable, art, music, big sports moments, vi deo game items and other collectible items.
Matthew Connelly, chief executive officer of Metachain, 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, chief executive officer of Revitalist, stated: “In the past, we were 100 per cent 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 [intravenous] 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 everyday 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.”
We seek Safe Harbor.
Aaron Bowden, Patrick Gray, Kathryn Walker
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