Nextech AR Solutions Corp has announced several new e-commerce 3D modeling deals, providing the company with a steadily growing base of ARR (annual recurring revenue) and MRR (monthly recurring revenue).
The company noted that AR and 3D models have been proven to increase sales, decrease product returns and improve advertising results, which could generate billions of dollars in value and impact bottom lines for customers. of the company’s global brand, including Kohl’s, CB2, Crate and Barrel, NAPA Auto Parts and many more.
In a statement, Nextech AR CEO Evan Gappelberg said, “We continue to see strong growth in our ARitize 3D offering throughout the second quarter and expect acceleration in the third and fourth quarters. Our continued growth, accelerated transformation and penetration into the trillion-dollar e-commerce industry is evident by our expansion into new product categories and our ability to consistently win new 3D modeling contracts of over 12 months while simultaneously renewing contracts with existing customers who are asking for even more 3D models.”
READ: Nextech AR says transformation positions it for next level of Web 3.0 growth
He continued, “More and more companies and brands within the e-commerce ecosystem are recognizing the clear benefits and ROI of our ARitize 3D product offering. We strongly believe that the transition from flat 2D photos to 3D models is in full swing and that 3D models are currently established as the standard in e-commerce across the world. The June 9, 2022 hit news that Amazon (which has 350 million products) is now offering an augmented reality shoe “trial” confirms our view, as “all brands” have been announced, including New Balance , adidas, Reebok, Puma, Superga, Lacoste. Shoes, Asics and Saucony will need to be converted into 3D models for use in Amazon’s trial which is creating more and more demand for our ARitize 3D services”.
Gappelberg concluded, “Companies that don’t adopt a 3D/AR e-commerce strategy will be left behind, as 3D/AR produces immersive shopping experiences that customers expect, and results in 93% conversions. and up to 40% lower returns for merchants (Shopify ) Through 2022, we will continue to push to win new customers and renew our contracts, multiplying our ARR and MRR month to month. ‘other.
Nextech said the winning of new contracts, combined with renewals and expansion of existing contracts, is driving the rapid growth of the company’s 3D model and augmented reality business in e-commerce.
The company said examples of some new customers gained include:
- Mechatronics Solutions Stäubli, a global provider of mechatronics solutions in four dedicated divisions: electrical connectors, fluid connectors, robotics and textiles, signed Nextech’s ARitize CAD, the CAD to POLY solution for their manufactured products, along with a code-generated hologram QR. This latest adoption of CAD to POLY technology signals the growing adoption by the manufacturing industry of 3D assets to help make their business more profitable.
- Complex Home Goods William Wood Design, a UK-based mirror manufacturer, has contracted Nextech to create high quality, complex 3D models of their mirror SKUs. Mirrors are a very complex product to convert into a 3D model, and with this contract Nextech continues to show that it has the ability to handle complex models of a wide variety of products.
- Sports Equipment Nextech has signed a new 3D modeling contract with Kindred Custom Snowboards for 3D models of the company’s “ridable art” snowboards. This follows several sports-related ARitize 3D offerings, including MGI Golf, Marker Deutschland, Head, Himibike, Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for Sports, Joyride Bikes and others.
- Unique Art Millwork Design, an American manufacturer of wood wall art and wood decor, has signed on for a variety of high-quality 3D models showcasing their unique products. Nextech’s ability to provide high quality, high resolution models allows them to be confident that the finished product will accurately reflect what customers are buying to put in their homes.
- Decor Metal Point of Sale Solutions, a German company providing bespoke metal presentation concepts from displays to shop fittings, signed on for a variety of 3D models. Seeing products in 3D allows their customers to get an idea of what the product will look like in-store, which builds consumer confidence and helps increase sales.
- Logos Orange Energizing Solutions, an energy-saving solutions company signed for a 3D AR logo, highlighting that companies are beginning to use 3D solutions in a variety of areas.
- Partner Agencies Nextech has expanded its reach and now partners with marketing agencies and other agencies to provide templates to third-party clients. The latest signings in this area are for niche geode products, as well as an increase in the initial order of Smirnoff Ice products.
These signatures underline that more and more retailers are asking for 3D models in the e-commerce space and that their marketing agencies are turning to Nextech to find solutions for their customers.
The company said it also continues to expand its reach through partner ad agencies and through integrations with Shopify Big Commerce, and soon WooCommerce.
Nextech also said that as part of a 5-year employment contract, it has granted its CEO, Gappelberg, 96,346 stock options per tranche, which he will receive in the future and only after reaching market cap milestones that start at $100 million and extend to $1. market capitalization of one billion dollars. Only upon reaching these milestones will he then be entitled to purchase up to a total of 11,956,152 common shares of the Company.
The options will carry an exercise price of CA$0.55 per share, will expire on June 20, 2027 and will vest in twelve equal tranches of 996,346 stock options per tranche, such vesting being conditional upon the appointment of Gappelberg as CEO or President of the company at the
applicable vesting time; the Company obtaining all necessary shareholder and regulatory approvals to ensure sufficient availability under its Option Plan for the issuance of Common Shares upon exercise of the respective options, and/or the approval of shareholders of any option that exceeds the number of common shares otherwise available for issuance under this option plan; and the company reaching certain market capitalization milestones.
The company has also granted 3,601,000 stock options to directors, officers, employees and consultants for the right to purchase up to an aggregate of 3,601,000 common shares of the company. Options vest over three years at a price of C$0.55 per share, the closing price on the last trading day prior to the grant date. All options were granted pursuant to the Company’s stock option plan.
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.
Its platform-independent tools enable brands, educators, students, makers, creators, and technologists to create immersive, interactive, and the most photorealistic 3D assets and digital environments, compose AR experiences, and publish them to any device. 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’s e-Cpmerce platforms include: vacuumcleanermarket.com (VCM), infinipetlife.com and Trulyfesupplements.com. VCM and product sales of residential vacuum cleaners, supplies and parts, and small appliances are 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. However, with the growth the company is seeing in its AR and metaverse solutions, it is currently in the process of winding down its e-commerce business.
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