InvestmentPitch Media Video Discusses Nextech AR Solutions’ Contract to Supply 3D Models to the World’s Largest Prime eCommerce Marketplace

Rhea-AI Summary

Nextech AR Solutions Corp. (OTCQB:NEXCF) has contracted to supply 3D models to the largest Prime eCommerce marketplace, enhancing its position in the augmented reality sector. This deal signifies ongoing growth in the company's 3D modeling and AR services, which include new contracts in the furniture, home goods, and sports sectors. The company's ARitize 3D technology allows customers to visualize products before purchasing, potentially decreasing return rates. Shares are currently trading at $0.98 and the company aims to expand its recurring revenue through new and renewed contracts.

Positive

• Secured contract to supply 3D models to the largest Prime eCommerce marketplace.
• Growing base of annual and monthly recurring revenue from new 3D modeling deals.
• New contracts signed with companies in furniture and sports sectors, indicating diversified growth.

Negative

• None.

VANCOUVER, British Columbia, July 13, 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 contracted to supply 3D models to the world’s largest Prime eCommerce marketplace.

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.

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.

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.

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. 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.

About InvestmentPitch Media

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FAQ

What recent contract did Nextech AR Solutions Corp. secure?

Nextech AR Solutions Corp. contracted to supply 3D models to the largest Prime eCommerce marketplace.

How is Nextech AR Solutions Corp. expanding its revenue?

The company is expanding its revenue through new contracts, renewals, and expansions in the 3D modeling market.

What sectors are showing growth for Nextech AR Solutions Corp.?

Nextech is experiencing growth in the furniture, home goods, and sports sectors.

What technology does Nextech AR Solutions provide?

Nextech AR provides ARitize 3D technology, which allows customers to visualize products using 3D and augmented reality.

What is the current share price of Nextech AR Solutions Corp.?

Shares of Nextech AR Solutions Corp. are currently trading at $0.98.