Vancouver, British Columbia–(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 (“AR”) experience technologies and services is pleased to announce the closure of a large business ARitize 3D doing business with a multinational e-commerce brand. This deal provides the company with a growing MRR (Monthly Recurring Revenue) base and showcases growing demand for Nextech’s state-of-the-art ARitize 3D factory which is powered by AI and ML. The company has committed to producing 2,500 3D models which will be distributed through the client’s online subsidiaries worldwide. This new contract is fundamental for the company as it not only shows the validation of Nextech’s 3D modeling at scale, but also validates the very strong and growing demand for 3D models and AR visualizations in e-commerce globally. .
Nextech AR CEO Evan Gappelberg joined Proactive Investors to discuss the news: Click here to watch the interview
ARitize 3D has grown in popularity as more and more e-commerce businesses recognize that the future of online commerce lies in product visualizations via augmented reality and 3D models. In 2021, Nextech has developed its suite of 3D/AR and metaverse solutions, as it seems to be a leader in the 3D modeling industry. His ARitize 3D Already provides many notable retailers with 3D models and AR product visualizations including Kohl’s, Lighting Plus New Zealand, Pier 1, Kmart Australia, Ezooza, NorthByNorth, The Office Group, Just Recliners, Never Summer, Mitra10, Cle Privee, Seville Classics, Bizrklan Eyewear, Poly & Bark, Skate One and more as demand for this technology increases across a wide variety of industries.
Reaching this deal with a major company in early 2022 sets the stage for a big year in 3D modeling and allows Nextech to showcase its suite of ARitize 3D solutions including its Product Hotspots, Animations, 360+ Exploded Views, 3D Swirling Ads, Configurator, 3D Carousel, Virtual Staging and Room Decorator.
To rapidly grow its accounts in 2022, the company is preparing to exit its beta launch of ARitize 3D SaaS offer for e-commerce. This opens up the technology to anyone with an e-commerce site, allowing them to offer WebAR and 3D shopping experiences on their website. Whether the client wants to create 5 templates or 5000 templates, all they need to do is register, enter a credit card payment method, and activate webAR for their website. The Company believes that it is the first to market this WebAR 3D SaaS solution for e-commerce.
Of the society ARitize 3D The technology enables large, medium and small e-commerce companies to scale their 3D model production using Nextech’s AI-powered technology in a cost-effective manner. The Company believes that with the combination of ARitize 3D and Nextech Learn CAD which enables manufacturers to convert CAD files into large-scale 3D AR models, the company has a major competitive advantage in the 3D modeling market.
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 Aritize CAD, it has an elite end-to-end solution that is uniquely positioned in the market to meet the rapidly growing global demand for 3D models, which is expected to grow from USD 3.8 billion in 2020 to USD 7.6 billion by 2025, at a compound annual rate. Growth rate (CAGR) of 15.0% over the forecast period.
Nextech AR CEO Evan Gappleberg said, “This enterprise 3D modeling contract for 2,500 initial models is a huge win for Nextech and clearly highlights the future trajectory of our technology. By being able to deliver scalable 3D/AR e-commerce solutions to the world’s largest multinational corporations at what we believe to be the lowest cost and highest quality, most scalable solution is truly a game-changer for our business. He continues, “I think this is just the beginning, as we have many other corporate transactions in our pipeline that we expect to close in the first quarter. Beyond the enterprise, we’re seeing strong demand throughout the e-commerce space. I believe 2022 is the year 3D models go from a “nice to have” to a “must have” in e-commerce and we have the 3D model factory that can scale, turning our platform into a “must-have” solution for e-commerce.
To find out more, follow us on TwitterYouTube, Instagram, LinkedIn and Facebook, or visit our website: https://www.Nextechar.com.
Latest Nextech AR news
January 10 – Nextech AR will exhibit at NRF 2022 Retail’s Big Show from January 16-18 at the Javits Center in New York
January 6 – Nextech AR sees strong demand for models from major manufacturers showcasing its CAD to Poly 3D/AR technology
December 23 – Nextech AR sees demand for its 3D models growing rapidly as it signs deals across a wide range of industries
December 22 – Nextech AR CEO Evan Gappelberg buys company stock on the open market and provides company update
December 21 – Nextech AR signs multi-year virtual event and marketplace deal with Restaurants Canada
December 15 – Nextech AR launches Stripe integration for its 3D mapping and events platform
About Nextech AR
Nextech AR Solutions is a Metaverse company that develops and operates Augmented Reality (“AR”) platforms, bringing three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, modifying e-commerce, digital advertising, hybrid virtual events (events held in a digital format combined with in-person attendance) and learning and training experiences.
Nextech is focused on developing AR solutions for the Metaverse, but most of the company’s revenue comes from three e-commerce platforms: 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.
CSE and NEO have not reviewed and accept no responsibility for the adequacy or accuracy of this release.
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.