Nextech3D.ai Enters
Asian Market with Major 3D Modeling Deal to Revolutionize
E-commerce
Multiple
New Enterprise Accounts Driving 2023 Sales Growth As Company Pushes
Towards Going Cash Flow Positive
Toronto, ON, Canada
-- MARCH 30, 2023 -- InvestorsHub NewsWire
-- Nextech3D.AI (formerly Nextech
AR Solutions Corp) (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a leading Generative AI-Powered 3D modeling
supplier for major e-commerce brands such as Amazon, P&G,
Kohls, and Dyson, has announced a significant expansion into the
Asian market with a major enterprise 3D modeling deal for thousands
of product SKUs. The contract highlights Nextech's breakthrough
Generative AI technology, which is emerging as a globally dominant
AI solution for scaling the production of 3D models in the booming
e-commerce industry. The production of 3D models for ecommerce is
estimated to be worth $100billion.
Evan Gappelberg, CEO of
Nextech comments, "With this enterprise contract we have officially
expanded into Asia, the largest and fastest
growing market for ecommerce worth 3Trillion in annual revenue.
This multi-year large enterprise contract is another critical step
towards our goal to be the global 3D model supplier of choice for
enterprise ecommerce giants globally. We continued to see a record
number of new deals for 3D models from a variety of customers in Q1
2023 which will generate significant revenue for the next few
years. He continues " This latest 3D modeling contract from the
Asian Pacific region of the world continues to
point at the accelerating global demand for 3D models as the $5.5
trillion dollar ecommerce ecosystem pivots from flat 2D photos to
3D models. As Nextech3D.AI expands its reach, technology investors
have a unique opportunity to invest in a company that is disrupting
the e-commerce landscape and driving innovation in the lucrative 3D
modeling sector".
"As we move further into
2023, the trend towards 3D models is only gaining more momentum. At
Nextech, we are in active discussions with major brands and
retailers around the world and are optimistic about securing
additional multi-year enterprise contracts. These contracts present
a significant revenue opportunity for our Company, which we expect
to ramp up over the coming years. With millions of Amazon merchants
now realizing the value of incorporating 3D models into their
businesses, we anticipate exponential demand and revenue growth. We
are excited to be at the forefront of this cutting-edge technology
and look forward to continuing to drive innovation in the
industry." - Evan Gappelberg, CEO of Nextech.
The Company has also
recently landed a major enterprise 3D model deal with an S&P
500 Company Top 10 Retailer - in addition to being a preferred 3D
model supplier to Amazon. Nextech3D.ai continues to see record
demand for 3D models and anticipates Q1 2023 will exceed sales
numbers from Q4 2022. This growth position Nextech3D.ai is a
leadership position for 3D modeling in the global $5.5 trillion
ecommerce ecosystem.
Generative AI &
Patents
A major contributor to
Nextech3D.ai's 3D modeling success and ability to meet market
demand is its Generative Artificial Intelligence (AI). Last week,
the Company filed a provisional patent titled: "Generative AI for
3D Model Creation from 2D Photos using Stable Diffusion with
Deformable Template Conditioning." This patent builds on the
previous patent filed in November 2022: "Generating
Three-Dimensional Models by Part" for creating complex 3D models by
parts. The groundbreaking AI technology underpinning these patents
places the Company in a leadership position in the 3D modeling for
ecommerce industry and sets the stage for the Company to become
cash flow positive.
Nextech3D.ai has built a
substantial library of 3D models to date, and most of the 3D models
created are composed of several individual parts. For example, a
chair is composed of legs, a seat back and cushions. Every time a
new 3D model is created, the parts are harvested into
Nextech3D.ai's AI powered 3D part-library. Nextech3D.ai is in the
process of significantly expanding this large library and its
utility, which is expected to eventually hold
millions of individual, unique parts. This massive parts library
enables Nextech3D.ai to create new 3D models by searching,
assembling and using this part library, allowing for a
significantly increased speed of 3D model creation. Instead of
starting from scratch, these parts are retrieved and assembled
first, reducing 3D model creation time. The more models the Company
makes, the larger that part library gets, and the easier it gets to
make new 3D models.
In February, Nextech3D.ai
announced a major generative artificial intelligence (AI)
breakthrough in 3D model texture creation. The breakthrough enables
the Company to recreate high-quality 4K textures at scale from just
small digital swatches in just seconds versus hours of manual
labor, representing a 720x increase in production speed. This
breakthrough in texture expansion technology will revolutionize the
3D modeling industry, and gives Nextech3D.ai a major competitive
edge further solidifying its leadership position in the global 3D
model space for ecommerce. With this technology, Nextech3D.ai is
revolutionizing the 3D modeling industry and making it possible to
create photo-realistic 3D models as digital replicas of real-world
products at scale for large enterprise customers.
3D
Modeling Deals
Nextech3D.ai has recently
signed both new and renewal contracts for 3D models for a variety
of industries:
Electronics
Kyocera, a leading supplier of solar power
generating systems, mobile phones, printers, copiers, printheads,
LCDs, electronic components and more has contracted with Nextech
for 3D models of a cell phone. This opens the door to additional 3D
modeling opportunities in their product line.
Nextivity, a cellular
solutions provider, has contracted with Nextech for a 3D model of
one of their popular routers.
Furniture / Home
Goods
Tectake, an international
eCommerce company with a wide range of work, home, leisure and
garden products signed for 3D models of their most popular items,
and are anticipated to increase their contract throughout
2023.
Vornado, a premier
supplier of Heating, Venting & Cooling products has increased
their 3D model contract with Nextech, with most of the models being
posted on Amazon.
Sports
Equipment
Hammer, a strength
training equipment retailer has contract with Nextech for a number
of models of their most popular gym equipment. This signing follows
the signing of Life Equipment a few weeks ago, showing growth in
this industry vertical.
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
About
Nextech3D.ai
(formally "Nextech AR
Solutions Corp" or the "Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2 is a diversified augmented reality, AI
technology company that leverages proprietary artificial
intelligence (AI) to create 3D experiences for the metaverse. Its
main businesses are creating 3D WebAR photorealistic models for the
Prime Ecommerce Marketplace as well as many other online retailers.
The Company develops or acquires what it believes are disruptive
technologies and once commercialized, spins them out as stand-alone
public Companies issuing a stock dividend to shareholders while
retaining a significant ownership stake in the public
spin-out.
On October 26, 2022
Nextech3D.ai spun out its spatial computing platform, "ARway" as a
stand alone public Company. Nextech3D.ai retained a control
ownership in ARway Corp. with 13 million shares, or a 50% stake,
and distributed 4 million shares to Nextech AR Shareholders. ARway
is currently listed on the Canadian Securities Exchange (CSE:ARWY),
in USA on the (OTC: ARWYF) and Internationally on the Frankfurt
Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented
reality wayfinding market with a no-code, no beacon spatial
computing platform enabled by visual marker tracking.
On December 14, 2022
Nextech announced its second spinout of Toggle3D, an AI-powered 3D
design studio to compete with Adobe. Toggle3D is expected to be
public in the first half of 2023.
To learn more about
ARway, visit
https://www.arway.ai/
For further information,
please contact:
Investor Relations
Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493)
Ext 7201
Nextech3D.ai
Evan
Gappelberg
CEO and
Director
866-ARITIZE
(274-8493)
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.
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