Nextech3D.ai Corp. develops AI and machine-learning software for event technology, digital commerce, and spatial computing. Its updates center on enterprise event platforms, including Eventdex, Map D/Map Dynamics and Krafty Labs, as well as AI-driven event intelligence, automation, computer vision, 3D modeling, digital twins and ARitize3D product visualization.
Company news also covers platform monetization and integrations such as hotel booking, blockchain-based ticketing, custodial wallets and fiat checkout, along with enterprise contracts, operating-efficiency initiatives, auditor changes and insider ownership activity.
Nextech AR Solutions Corp has expanded its partnership with Kohls to scale up WebAR for e-commerce, creating thousands of new 3D models to enhance the customer experience. This collaboration began with Kohls' recognition of Threedy.ai as a preferred option for integrating AR into their offerings. The extensive testing conducted through Kohls' Innovation Center validated the return on investment. This move positions Kohls' products to be featured in Google's 3D AR Search Program, allowing customers to engage with products dynamically.
Nextech AR Solutions Corp has expanded its partnership with Kohls to scale up WebAR for Ecommerce, producing thousands of new 3D models. This development aims to enhance the AR shopping experience for Kohls' customers, allowing them to interact with products within any backdrop. Kohls' selection of Threedy.ai for this initiative promises ROI by boosting customer engagement and reducing return rates. Furthermore, Nextech's recent inclusion in Google's 3D AR Search Program will enhance visibility for Kohls' products in search results, leveraging AR technology to improve e-commerce.
Nextech AR Solutions Corp (OTCQB: NEXCF) has finalized its acquisition of U.K.-based ARWAY Ltd., enhancing its augmented reality capabilities with cutting-edge 3D mapping technology. The all-stock deal allows Nextech to develop 'mini-metaverses', targeting significant market opportunities. The acquisition will see key ARWAY founders join Nextech’s team, strengthening leadership in spatial computing. Following the deal, Nextech issued 609,666 shares at CAD$2.06 each, subject to trading restrictions for up to 23 months. This strategic move positions Nextech for growth in the evolving metaverse market.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announces its partnership with Google as an early access provider for the Google 3D AR Search Program. This collaboration allows current Threedy.ai customers, including major retailers like Kohl’s and Pier 1, exclusive access to 3D models featured in Google's search results. This move is expected to enhance product visibility and customer engagement through augmented reality experiences. With Google processing over 3.5 billion searches daily, Nextech aims to leverage this significant market reach through its AI-powered 3D model creation platform.
NexTech AR Solutions Corp. (OTCQB:NEXCF) announced the advancement of its ad technology, integrating with SNAP, Facebook, and Instagram, expanding its 3D/AR advertising capabilities beyond Google. This strategic move positions NexTech to access a vast audience, leveraging SNAP's 293 million, Instagram's 500 million, and Facebook's 1.9 billion daily active users. CEO Evan Gappelberg emphasized readiness to capitalize on the growing AR advertising market, projecting mobile AR revenue to reach $21.02 billion by 2024.
NexTech AR Solutions Corp (OTCQB: NEXCF) has launched its next-generation advertising technology, integrating 3D ads on Google's platform without requiring app downloads. This upgrade utilizes WebXR to deliver engaging AR experiences and provides detailed analytics for customers, enhancing their digital advertising effectiveness. CEO Evan Gappelberg highlighted that their 3D ads yield a click-through rate of approximately 5%, significantly higher than Google's average. This strategic move positions NexTech to leverage Google's extensive reach, aiming for increased market engagement in the AR advertising space.
NexTech AR Solutions Corp. (NEXCF) reported strong financial results for Q2 2021, with revenues of $6.1 million, a 73% increase from $3.5 million in Q2 2020. Gross profit rose to $2.3 million, up over 6%. For the first half of 2021, revenue surged 130% to $13.8 million, with gross profit increasing 59% to $5.6 million. The company had cash on hand of $15.4 million as of June 30, 2021. Additionally, NexTech acquired Threedy.ai Inc., enhancing its capabilities in augmented reality model production.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced the acquisition of ARway, enhancing its capabilities in building the Metaverse. The acquisition provides a spatial mapping platform essential for augmented reality applications. Nextech's CEO, Evan Gappelberg, and ARway's CEO, Baran Korkmaz, will discuss this development in a livestream scheduled for August 11, 2021, at 12:30 PM ET. This strategic move aims to position Nextech as a leader in AR for eCommerce and virtual experiences.
Nextech AR Solutions Corp. (OTCQB: NEXCF) has announced a definitive agreement to acquire U.K.-based ARWAY in an all-stock transaction valued at approximately US$1 million. This strategic move is aimed at enhancing Nextech's capabilities in the evolving Metaverse space. ARWAY's spatial mapping platform will enable Nextech to offer immersive experiences for various locations, including museums and sports stadiums. The acquisition is expected to close in August 2021, pending regulatory approvals and shareholder support.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced the integration of its HoloX mixed reality solution into HoloLens2, set for release in September 2021. This integration will enhance user experience with gesture controls through eye-tracking and hand gestures. The company's AR Innovation Labs project aims to facilitate immersive interactions across various sectors, including education and military training. According to Gartner, the digital human economy could reach $125 billion by 2035, highlighting the growing potential for Nextech in the AR space.