InvestmentPitch Media Video Discusses Nextech AR Solutions and its Significant Order for 7,500 3D Models from Blue Chip Customer

Rhea-AI Summary

Nextech AR Solutions Corp. (OTCQB:NEXCF) has received a purchase order for 7,500 3D models, with over 50% already delivered. The remaining models are expected to be completed early in Q4 2022. The company's ARitize 3D technology uses AI to create high-quality 3D and Augmented Reality experiences, significantly enhancing customer engagement. The market for 3D models is projected to grow from $4.48 billion in 2021 to $12.13 billion by 2028, with a CAGR of 15.5%. The shares are currently trading at $0.82.

Positive

• Received a purchase order for 7,500 3D models, with over 50% already delivered.
• Proven effectiveness of 3D models, leading to a 93% higher click-through rate and 94% increase in conversions.
• Growing demand for 3D modeling projected to increase from $4.48 billion in 2021 to $12.13 billion by 2028.

Negative

• None.

VANCOUVER, British Columbia, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Nextech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse company and leading provider of augmented reality experience technologies and services, has received a purchase order for 7,500 3D models with more than 50% already delivered and the balance expected to be delivered early in the fourth quarter of 2022.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from Nextech AR’s CEO, Evan Gappelberg. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Nextech” in the search box.

The company’s ARitize 3D uses Artificial Intelligence to turn existing 2D product images into high-quality 3D and Augmented Reality experiences. With a 3D model, customers can interact with a product, turning and spinning it, zooming in and out, effectively seeing every detail, leading to a 93% higher click-through rate and a 90% reduction in product photography costs.

The company believes its ARitize 3D and its CAD to POLY technology, is an elite end-to-end integrated solution that is unmatched and uniquely positioned in the market to meet the rapidly growing global demand for 3D models, which is projected to grow from $4.48 billion in 2021 to $12.13 billion by 2028, a compound annual growth rate of 15.5%.

According to Shopify, 3D augmented reality product models have proven to generate a 94% increase in conversions and a 40% reduction in returns online. On some product pages, 3D/AR models have increased conversion rates by up to 250%.

In addition to being a 3D model supplier for the world’s largest prime eCommerce marketplace, the company has also closed a record number of new 3D modelling deals in 2022 for ecommerce, providing the company with a continually growing base of recurring revenues. 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.

The shares are trading at $.82. For more information, please visit the company’s website at www.NextechAR.com. Investor Relations is handled by Lindsay Betts, who can be reached at 866-274-8493 or by email at investor.relations@nextechar.com.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Nextech AR Solutions has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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