Nextech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a metaverse company and leading provider of augmented reality (“AR”) experience technologies, wayfinding technologies and 3D model services, announced its single largest purchase order (“PO”) to date: a $6.7 million PO from a NASDAQ 100 technology company. According to the announcement, Nextech anticipates delivering 3D models from this order next year. Together with previously received purchase orders, Nextech has received orders that total $7.4 million. In addition, the company is currently negotiating additional 3D modeling contracts from large enterprise customers. These increasing orders are representative of the company’s position as a leader in the space and its expertise as a 3D model provider. “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,” said Nextech AR Solutions CEO Evan Gappelberg in the press release. “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. 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.”
To view the full press release, visit https://ibn.fm/ah0mD
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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