Nextech AR Announces New Updates to Its Real-World Augmented Reality Spatial Computing Platform, “ARway”

• Enhanced Wayfinding with – Out-of-box capabilities to create and experience guided tours with AR enhanced navigation
• Enhanced 3D Models with– Animated 3D models driving higher engagement
• Enhanced Location Intelligence – Collection and visualization of analytics to monitor the performance of Spatials through multiple data dimensions including location and time
• Full Occlusion – Virtual objects can be hidden or occluded by real-world objects in both Android and iOS

TORONTO--(BUSINESS WIRE)-- Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a metaverse Company and leading provider of augmented reality (“AR”) experience technologies and services is pleased to announce the Company has launched upgrades to its augmented reality spatial mapping platform, “ARway.” As previously announced ARway is being spun out as a stand-alone public company marking what the Company believes will be the first publicly traded “pure play” spatial computing platform.

It is anticipated that ARway will begin trading in 2022 and that Nextech AR shareholders of record will receive a stock dividend of at least 3,200,000 shares on a pro-rata basis. It is expected that Nextech AR will still retain a majority share ownership in ARway after the spinout.

Nextech AR CEO Evan Gappelberg commented, “I am confident that spatial computing is the technology industry’s next big breakthrough, possibly the most important technology breakthrough in the 21st century because spatial computing merges many disruptive technologies including 3D models, augmented reality, VR, AI, and Web 3.0.” He continued, “Spatial computing expands the concept of “traditional computing” by adding a 3D object’s location in space in relation to other objects or locations. During the first half of 2022 Nextech AR has been hard at work developing an integrated solution combining all our technology into one unified platform which allows us to leverage our technology, stay ahead of the curve and keep pushing the boundaries of what's possible with spatial computing. I’m super excited to announce that we have integrated our ARitize 3D CMS into our ARway offerings. We now can combine spatial mapping, and insert thousands of 3D models into the spatial, creating an end-to-end solution for creators and brands that is unmatched anywhere. Not only does ARway provide immersive and engaging spatial experiences for consumers, but we can also provide valuable analytical data for brands and properties. With our ability to capture “location intelligence” for spatial maps, we can provide deep insights into customer behaviour and comprehensive location-based analytics. This will allow our clients to optimize their spatial maps to improve traffic, engagement and revenue, which is extremely valuable for enterprise customers who are now lining up for the full release of ARway.”

ARway is a next-generation spatial computing platform for the real-world metaverse that drives new revenue for properties and brands with out-of-box augmented reality (“AR”) mapping solutions. The ARway offering consists of a no-code required Web Creator Platform, as well as the ARway Mobile App and the ARwayKit Software Development Kit (“SDK”). Creators can map, author, and publish various metaverse experiences ranging from AR wayfinding to an array of AR experiences for exclusive branded activations. With the ability for location-specific, interactive and immersive AR content and proximity marketing campaigns, user experiences are improved, user engagement is driven and brand value is maximized.

These new upgrades will launch version v.1.1 of ARway, and include updates to the Web Creator Platform, the ARway Mobile App and ARwayKit Software Development Kit (SDK).

The new upgrades are as follows:

Platform

• Web Creator Portal available to select Early Adopters
• Wayfinding Upgrades – Out-of-box capabilities to create and experience guided tours with AR enhanced navigation
• 3D Model Upgrades – Animated 3D models in Spatials to drive user engagement
• Map Admin – Version control, map edits, auto save and other User Experience upgrades for managing Spatials
• Location Intelligence – Collection and visualization of analytics to monitor the performance of Spatials through multiple data dimensions including location and time
• Improved stability and scalability for larger maps of 1,500 m²

ARway App and ARwayKit SDK:

• Early access to Beta program for ARwayKit SDK
• Content edit upgrades – Advanced content authoring ability from mobile app
• SLAM Placement – Targeted placement of AR content in Spatials using mobile app
• Full Occlusion – Virtual objects can be hidden or occluded by real-world objects in both Android and iOS
• 1500 m² maps – 10X increase in the size of Spatials and AR enhanced wayfinding

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway opens Nextech’s 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.

Early adopters who have already signed up and are co-developing the platform with Nextech AR include:

Property Owners In:

• sporting venues
• exhibition centers
• universities
• hospitals
• government and public sector

Brands In:

• retail
• real estate
• marketing agency
• consumer goods

About the ARway Offering

Web Creator Platform

The Web-based Creator Platform provides 'advanced' authoring capabilities compared to the mobile app, including the ability for creators to upload their own OBJ/GLB files, and create their own 3D objects. Placing content in a large area using only mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.

Mobile App

With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse. The platform has a Visual Position System (“VPS”) which Nextech refers to as Mapping and Localization where users can map and enable VPS in any area through the platform. Occlusion, depth sensing and segmentation are also available. Users can share their metaverse with others, creating a new level of immersive interactivity for social, branding, advertising, gaming and more metaverse experiences.

Download the Mobile App
Apple iOs - click here
Google Play Store - click here

ARwayKit SDK

The Software Development Kit contains code libraries and API information that allows developers to build their own mobile apps on both iOs and Android leveraging ARway technology. Creators will be able to develop white label and private label apps and access ARway APIs to author maps using the Web Creator Portal. The SDK features the latest and greatest of the ARway mobile app. To request early access to the ARwayKit SDK - click here

Create Your Own Metaverse!

Tutorial - click here
Demo - click here
Masterclass - click here

Nextech also announced today that an aggregate of 200,000 common shares of Nextech were issued to Hybrid Financial in settlement of indebtedness at a deemed price of Cdn$0.90 per share. The Shares will be subject to a statutory hold period expiring on Nov 21, 2022.

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About Nextech AR

Nextech AR Solutions is the engine accelerating the growth of the metaverse. Using breakthrough 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, giving creators at every level all the essential tools they need to build out their digital AR vision in the metaverse. Our 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. 

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. 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220719005347/en/

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)

Source: Nextech AR Solutions Corp.