TORONTO–(BUSINESS WIRE)–Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a Metaverse company and leading provider of augmented reality (Experience technologies and services) AR”) are pleased to announce the closing of several NEW 3D model e-commerce offerings. These deals provide the company with a growing SaaS revenue base and illustrate the growing demand for Nextech’s state-of-the-art, AI-powered ARitize 3D Factory. The company has committed to producing over 1,500 3D models from these new deals alone, and expects to secure additional new deals and see rapid growth in demand in the e-commerce market.
The furniture industry has always struggled to sell online. Now it has success with 3D and AR models and it currently has the highest demand for 3D models and AR visualizations. Nextech has large and growing contracts with Kohl’s, Crate & Barrel, Pier 1, Just Recliners, Mathis Brothers Furniture and others to reflect this. It is reported that by 2022, online furniture sales are expected to reach US$294 billion, making the need for accurate 3D models essential for this industry.
Over the past few weeks, Nextech has signed several e-commerce agreements for 3D AR models in a number of dynamic industries. Having already delivered over 10,000 3D models, these new contracts show the continuation of Nextech’s 3D modeling capabilities at scale, and also validate the very strong and growing demand for 3D models and AR visualizations in e-commerce in the US. global scale.
Entering the solar energy business, Nextech has signed a Learn CAD deal with Spotlight Solar. Learn CAD allows the conversion of CAD files into large-scale 3D/AR models. This is an important solution for a company like Spotlight Solar, which manufactures architectural solar structures designed to be visible and signal environmental stewardship.
As Nextech continues to generate strong interest in 3D/AR artwork models, Nextech has entered into a contract with Artmill Work Design, which creates handcrafted wooden wall decor.
Nextech recently signed a 3D modeling agreement with leading sports equipment manufacturer, Head Sport, for its line of tennis racquets. This follows in the footsteps of other sports-related ARitize 3D offerings, including Never Summer, The Perfect Mound, Source for Sports, and others. The sporting goods market is a billion dollar industry. Sporting goods store sales in the United States alone are approximately US$45 billion annually, and the potential for 3D models to expand into this market is immense.
Announced last week, Nextech has signed an ARitize 3D contract for 3D modeling and custom decoration with Genuine Parts Company; a global service organization engaged in the distribution of automotive and industrial replacement parts.
These are just a few of the newest customers and newest sectors the company has expanded into, with rapidly increasing demand the company plans to further increase its expansion throughout 2022. Since the public launch of the SaaS of ARitize 3D, the Shopify integration, the BigCommerce integration, and the Metaverse sequel Over the past several months, adoption and demand for Nextech’s 3D/AR solutions have continued to accelerate rapidly.
Nextech AR CEO Evan Gappelberg commented, “These 3D modeling contracts for over 1,500 models include replenishments…proving that 3D models are sticky and 3D/AR models deliver results for our customers. This is just the start of the Fourth Industrial Revolution, just the start of our journey as we have other large company deals in our pipeline representing thousands of 3D models that we expect to complete in the coming months. Beyond the enterprise, we continue to see strong demand across the e-commerce space, also signing 3D modeling deals with small to mid-sized e-commerce businesses. The snowball effect is happening, widespread adoption is happening, and this is evident through all of the new and recurring contract signings with Nextech.
Demand is growing from large e-commerce companies that need the ability to quickly convert large amounts of files and create large-scale 3D models. Nextech believes that with ARitize 3D and Nextech Learn CADit has an elite end-to-end solution that is uniquely positioned in the market to meet the rapidly growing global demand for 3D models.
About ARitize 3D
ARitize 3D is your one-stop AR solution with automated 3D model creation at an unbeatable price. Our artificial intelligence (AI) will transform your existing 2D product images into high-quality 3D and augmented reality experiences. It’s fast, it’s easy, and it will transform your e-commerce site.
With a 3D model, customers can interact with the product to see every detail with a 3D model: rotate it, rotate it, zoom in, zoom out, resulting in a 40% drop in product returns, a 93% higher click-through rate and a 90% click-through rate reduction in product photography costs. The company believes that this value creation and return on investment is driving rapid growth in demand for the company’s 3D technology. Transform your online store into a dynamic virtual showroom. 3D models allow customers to view products from all angles and position them in their own space before purchase. It’s an exciting and immersive shopping experience that keeps customers more engaged, better informed, and helps your brand stand out from the competition.
ARitize 3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
- Affordable – cheapest provider
- Scalable – faster, seamless, high quality
- Without friction – requires little effort to implement
- Powered by AI and ML – automated creation of 3D models
- end to end – from model creation to CMS & AR visualization
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About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using groundbreaking AI, Nextech AR is able to quickly, easily, and cost-effectively ARitise (transform) vast amounts and varieties of existing assets at scale, making products, people, and places ready for use. Interactive 3D, giving creators at all levels all the essential tools they need. to develop their vision of digital AR in the Metaverse. Our platform-agnostic tools enable brands, educators, students, makers, creators, and technologists to create the most photorealistic, interactive, and immersive 3D assets and digital environments, compose AR experiences, and publish them to all devices. canals. With a comprehensive suite of end-to-end AR solutions in 3D commerce, education, events, and industrial manufacturing, Nextech AR is uniquely positioned to serve the needs of the world’s leading brands and all Metaverse contributors .
Nextech funds the development of its AR and Metaverse growth initiatives through its e-commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (“VCM”), Infinitypetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and sale of residential vacuum cleaner products, supplies and parts, and small appliances sold on Amazon. These e-commerce platforms serve as an incubator to develop and test Nextech’s cutting-edge AR, AI and machine learning applications to power next-generation e-commerce technology.
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Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.