Nextech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29) is reporting a 11% increase in 3D model production from second-quarter 2022 to third quarter. Nextech is a metaverse company and leading provider of augmented reality (“AR”) Wayfinding technologies and 3D model services for the largest Prime ecommerce platform as well as Kohl’s, CB2, NAPA Automotive and others. According to the announcement, the company is seeing consistent demand for 3D models from multiple ecommerce enterprise customers, with Nextech producing 5,667 3D models in the third quarter alone; those models spanned an array of products, including rugs, tables, lamps, couches, TVs, mirrors, chairs, toys, wall art, outdoor furniture, bicycles, clothing, perfume, sports equipment, electronics and more; in the second quarter, the company produced 2,776 3D models. With this increasing demand in mind, Nextech is ramping up production, projecting it will create more than 2,800 models in October alone, which would represent a substantial increase in 3D model production in fourth quarter 2022. “I’m very proud of the execution thus far on our deal with Amazon and excited as the ARitize 3D revenue continues to roll in as we continue ramping up the production of 3D models for the world’s Prime e-commerce marketplace,” said Nextech AR CEO Evan Gappelberg in the press release. “Many enterprise companies within the e-commerce ecosystem are now recognizing the game-changing ROI and customer satisfaction experienced by implementing 3D/AR models on their websites. We currently are quoting on a number of large RFPs, which we expect to close in Q4 2022, creating a snowball of revenue in 2023, as 3D models are the standard that continues to cement itself for Web 3.0 in eCommerce. With the launch of Toggle 3D, we have taken the leadership position in the world of everything 3D for CAD, rapidly prototyping the mass production of 3D models from CAD files. We are focused and working towards a huge ramp-up of 3D model production, setting the stage for an exciting 2023.”
To view the full press release, visit https://ibn.fm/XeNID
About Nextech AR Solutions Corp.
Nextech AR Solutions is the engine accelerating the growth of the metaverse. Using breakthrough artificial intelligence (“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, and giving creators at every level all the essential tools they need to build out their digital AR vision in the metaverse. The company’s 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 e-commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce 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 e-commerce platforms serve as an incubator for developing and testing Nextech’s leading-edge AR, AI and machine learning applications for powering next-generation e-commerce technology. For more information about the company, please visit www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF
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