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Nextech AR Announces Record $6.7 Million 3D Model Purchase Order From a NASDAQ 100 Technology Company
Thursday, October 27, 2022Company Profile | Follow Company
Vancouver, BC, October 27, 2022--(T-Net)--Nextech AR Solutions Corp. (OTCQB: NEXCF, CSE: NTAR), a Metaverse Company and provider of augmented reality ("AR") experience technologies, wayfinding technologies and 3D model services announced it has received its single largest purchaser order to date of $6.7 million from a NASDAQ 100 technology company.
The 3D models related to this $6.7 million order are to be delivered in the calendar year 2023. With the previously announced $700,000 3D model order to be delivered in Q4, 2022 the total new orders recently announced equals $7.4 million. These new 3D model orders set the stage for record growth in its 3D modeling business for the foreseeable future.
While $6.7 million is the most substantial 3D modeling order Nextech AR has received to date, the Company says it is still in negotiations for additional significant 3D modeling contracts from large enterprise customers, which it expects to announce shortly.
Evan Gappelberg, CEO, Nextech AR Solutions Corp.
CEO Evan Gappelberg commented, "The transformation from 2D online shopping to 3D is only in the first or second inning, similar to Artificial Intelligence, Robotics, Energy Storage, DNA Sequencing, Blockchain Technology, and other disruptive technologies. We are very fortunate to be positioned as one of the leaders in 3D technology transforming the $5.5 trillion e-commerce industry. We are now delivering mass quantities of 3D models to the highest standards, for the most demanding customers. We expect that global demand for 3D models will rapidly grow and then accelerate at a breakneck pace from 2023 into 2024. We see this massive demand for 3D models accelerating now because large enterprise e-commerce businesses have seen a positive ROI for 3D models and know that to remain competitive they will need 3D models. He continued, "Nextech AR has worked tirelessly over the past four years to cement itself as a leader in 3D model making at scale for large enterprise global customers and it is just now starting to pay off as evidenced by this $6.7 million order. The transition from flat 2D photos to 3D models is now in full swing presenting a massive opportunity which we plan to take full advantage of."
Recent 3D Modeling News Highlights
About ARitize 3D
ARitize 3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images into high-quality 3D and Augmented Reality experiences. It's fast, it's easy and it will transform your eCommerce website.
With a 3D model, clients can interact with the product to see every detail: turn it, spin it, zoom in, zoom out, leading to 40% lower product returns, 93% higher click-through rate and a 90% reduction in product photography costs. The Company believes that this value creation and ROI are leading to the rapidly growing demand for the Company's 3D technology. Transform your online store into a dynamic virtual showroom. 3D models allow customers to see products from every angle and position them in their own space prior to purchasing. It's an exciting, immersive shopping experience that keeps customers more engaged, and better informed and helps your brand stand out from the competition.
ARitize 3D is a One-Stop-Shop 3D + AR solution for eCommerce that is:
To learn more about ARway, visit: www.arway.ai
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world's biggest brands and all Metaverse contributors.
Nextech funds the development of its AR and Metaverse growth initiatives through its eCommerce platforms, which currently generate most of its revenue. Nextech's eCommerce platforms include: vacuumcleanermarket.com ("VCM"), infinitepetlife.com ("IPL") and Trulyfesupplements.com ("TruLyfe"). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These eCommerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation eCommerce technology.
Forward-looking Statements
Forward-looking information contained herein may include but is not limited to, references to any future acquisitions and the timing thereof and the use of proceeds of the Private Placement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, general market conditions, availability of financing, regulatory approvals and the results of the Company's operations. Forward-looking information is not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law. |
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Nextech3D.ai (formerly Nextech AR Solutions Corp)
Vancouver (Other Tech Sectors)
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