Nextech AR Receives
Enterprise 3D Modeling Expansion Contract and Lands New S&P 500
Customer
Nextech's
Generative AI Driving
Exponential Growth For Portfolio of 3D/AR Technologies for
Ecommerce
Record
3D Model Demand in Ecommerce Continuing In 2023
TORONTO, O.N,
Canada -- January 17, 2023 -- InvestorsHub NewsWire
-- Nextech
AR Solutions Corp.
("Nextech" or the
"Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a Metaverse Company and leading provider of
augmented reality ("AR") experience technologies, wayfinding
technologies and 3D model services is pleased to announce the
expansion contract with thousands of 3D model products for
Majid Al Futtaim,
a branding partner for world-class fashion and retail brands with
more than 100 stores across the MENA region, including some of the
world's most desirable brands, such as Crate & Barrel,
Abercrombie & Fitch, Hollister, AllSaints, and lululemon
Athletica. The Company is also pleased to announce that it now
supplies 3D models for
Procter & Gamble, an
S&P 500 company, as well as
Bunnings (owned
by Wesfarmers), which has 381 locations, the largest retailer of
home improvement supplies in Australia and New Zealand.
These latest 3D modeling
contracts are further evidence of the global demand for 3D models
due to the high ROI. Nextech anticipates the 3D model
mega-trend gaining even more traction in 2023, as the mass adoption of 3D models
continues. Nextech is currently in discussions with other major
retailers and is anticipating a record number of new deals for 3D
models in 2023.
Nextech has recently
signed both new and renewal contracts for 3D model for a variety of
industries:
Specialty
Products
Vornado Air LLC,
a premium supplier of fans, heaters, humidifiers, air purifiers,
steamers and more have signed on for 3D models of their most
popular products.
Home Leisure Direct, a game room products provider of
pool tables, arcade machines, pinball, table tennis, etc. has
signed on for a number of unique and complex 3D models to promote
their games.
Speciality Outdoor
Furniture / Equipment
Babmar, the most
trusted brand name in weather-resistant, handwoven outdoor
furniture, along with Everdure by Heston Blumenthal, Ezooza, North
by North, and others. Nextech continues to see growth in this
category, and will continue to expand this segment into
2023.
These contracts follow
recently announced news for other specialty product retailers such
as Prineta, As Good As Gold Australia, and Top Meteorite showcasing
the complexity and details that Nextech's 3D models are able to
provide.
The adoption of complex
3D models is accelerating as online retailers see the value of
highlighting these products to customers, which increases sales
since consumers can now accurately see these items in their space,
as well as reducing returns.
Sports
Equipment
MGI Golf, a
supplier of golf caddies and other related golf products,
originally signed on for a 3D model of their golf cart and has
requested another contract for more models. This latest signing is for 3D model
SKUs of their other golf caddy products.
The sports equipment
segment continues to grow for Nextech, as the Company also recently
signed a 3D modelling deal with Skate One, Bunnings (bicycle line),
as well as a renewal 3D modelling deal with City Grounds, a bicycle
retailer for additional SKUs. This follows multiple sports-related
ARitize 3D deals, including Marketer Deutschland, Head, Himibike,
Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for
Sports, Joyride Bikes and others.
Furniture / Home
Goods
Material Comforts Inc - (MC) Poly & Bark, a premium American furniture and
home decor online retailer has renewed for another term, and it is
anticipated that additional SKUs will be requested.
William Wood Mirrors, an eCommerce retailer of specialty
mirrors, originally signed on for complex 3D models in mid-2022 and
has been increasing its model orders steadily. This latest deal
represents the 7th signed contract for additional 3D model
SKUs.
The Timber Line,
an exclusive collection of locally made, handcrafted timber items
for the household has signed on for a number of 3D models of their
most popular SKUs, enabling customers to see what the product will
look like in their homes before purchasing, leading to more
satisfied customers and less chance of product return.
The furniture and home
goods market for Nextech continues to be strong. These deals follow
recently announced contracts with Seville
Classics, a global leader in home organization
and storage solutions; Summit International Flooring, a premier
flooring supplier and many others.
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
For further information,
please contact:
Investor Relations
Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493)
Ext 7201
Nextech AR
Solutions Corp.
Evan
Gappelberg
CEO and
Director
866-ARITIZE
(274-8493)
About
Nextech AR
Nextech AR Solutions
(OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2) is a diversified augmented reality, AI
technology company that leverages proprietary artificial
intelligence (AI) to create 3D experiences for the metaverse. Its
main businesses are creating 3D WebAR photorealistic models for the
Prime Ecommerce Marketplace as well as many other online retailers.
The Company develops or acquires what it believes are disruptive
technologies and once commercialized, spins them out as stand-alone
public Companies issuing a stock dividend to shareholders while
retaining a significant ownership stake in the public
spin-out.
On October 26, 2022
Nextech AR spun out its spatial computing platform, "ARway" as a
stand alone public Company. Nextech AR retained a control ownership
in ARway Corp. with 13 million shares, or a 50% stake, and
distributed 4 million shares to Nextech AR Shareholders. ARway is
currently listed on the Canadian Securities Exchange (CSE:ARWY), in
USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock
Exchange (FSE: E65). ARway Corp. is disrupting the augmented
reality wayfinding market with a no-code, no beacon spatial
computing platform enabled by visual marker tracking.
On December 14, 2022
Nextech AR announced its second spinout of Toggle3D, an AI-powered
3D design studio to compete with Adobe. Toggle3D is expected to be
public in the first half of 2023.
To learn more about
ARway, visit
https://www.arway.ai/
Forward-looking
Statements
The CSE
has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Certain
information contained herein may constitute "forward-looking
information" under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as, "will be" or variations of
such 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 are incorporated by reference herein, except as
required by applicable securities laws.