Nextech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse company and leading provider of augmented reality experience technologies and services, contracts to supply 3D models to the world’s largest Prime eCommerce marketplace. ARitize 3D is a one-stop-shop AR solution using artificial intelligence to create high-quality 3D and augmented reality experiences, from existing 2D product images, at an unbeatable price.
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Nextech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse company and leading provider of augmented reality experience technologies and services, has contracted to supply 3D models to the world’s largest Prime eCommerce marketplace.
Evan Gappelberg, Nextech AR’s CEO, has joined us today to discuss today’s news. Welcome Evan.
ARitize 3D is a one-stop-shop AR solution using artificial intelligence to create high-quality 3D and augmented reality experiences, from existing 2D product images, at an unbeatable price.
By employing 3D technology, customers can “try before they buy”, thereby increasing conversions and perhaps more importantly, decreasing returns, a costly expense in the online marketplace.
Once a client realizes the benefits of this technology, it is hard to image ever losing a client.
In addition to supplying its 3D technology to the world’s largest prime eCommerce marketplace, Nextech AR has also closed multiple new 3D modeling deals in the eCommerce space, providing the company with both a continuing growing base of annual recurring revenue and monthly recurring revenue.
Winning new contracts, combined with renewals and expansion of existing contracts, is driving the rapid growth for the company’s 3D model and augmented reality business in eCommerce and growth into Web 3.0.
Some of the latest companies in the furniture and home goods sector to sign contracts for the company’s ARitize 3D product are Surplus Furniture, Loft, Marina Homes and Relax Sedmaisiai.
Sports Equipment has been another significant growth area for the company, with California-based Sports Basement contracting for the provision of 3D models for their top selling bicycles, with the potential to expand 3D capabilities to their other products.
Previous sports related contracts span numerous sports including Kindred Snowboard, Salamander Paddle Gear, MGI Golf, North by North, The Perfect Mound, Source for Sports, and others.
As Evan mentioned, the company has established a unique program to compensate employees and consultants with share purchase warrants, in lieu of monthly cash payments.
These warrants are priced at $0.84 for a period of one year, and exercised on a monthly basis, with the recipients given the option to have the company manage the sales of the underlying shares, with the company also covering any shortfall.
The shares are trading at $.98.
For more information, please visit the company’s website at www.NextechAR.com, contact Lindsay Betts, Investor Relations, at 866-274-8493 or by email at investor.relations@NextechAR.com.
