- Nextech AR Solutions (NTAR) has announced the closing of multiple new 3D modeling deals for ecommerce
- Stäubli, global mechatronics has signed on Nextech’s ARitize CAD for their manufactured products, as well as a QR code generated Hologram
- William Wood Design, a UK based mirror manufacturer, has contracted with Nextech to create high quality complex 3D models of their mirror SKUs
- Nextech has signed a new 3D modeling deal with Kindred Custom Snowboards for 3D models of the company’s “rideable art” snowboards
- Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals
- Nextech (NTAR) is down 14.55 per cent on the day, trading at C$0.08 per share at 1 pm ET
Nextech AR Solutions (NTAR) has signed multiple new 3D modelling deals for eCommerce.
These deals will provide a growing base of annual and monthly recurring revenue.
AR and 3D models have been proven to increase sales, decrease product returns, and improve advertising results, leading to potentially billions of dollars in value.
CEO Evan Gappelberg commented on the news.
“We are continuing to see strong growth in our ARitize 3D offering throughout Q2 and expect an acceleration in Q3 and Q4. Our continued growth, accelerating transformation and penetration into the trillion dollar ecommerce industry is evident by our expansion into new product categories, and by our ability to consistently sign new 12-month+ 3D modeling contracts while simultaneously renewing contracts with existing clients who are requesting even more 3D models.” He continues, “More and more companies and brands within the ecommerce ecosystem are recognizing the obvious benefits and ROI of our ARitize 3D product offering. We firmly believe that the transition from flat 2D photos to 3D models is now in full swing and that 3D models are currently being established as the standard in e-commerce throughout the globe. News that Amazon (who has 350 million products) is now offering a shoe ‘try on’ in AR supports our view as ‘All the brands announced including New Balance, adidas, Reebok, Puma, Superga, Lacoste, Asics, and Saucony shoes will need to be converted into a 3D models to be used in Amazon’s ‘try on’ which is creating more and more demand for our ARitize 3D services.’
He continued,
“Companies who don’t adopt a 3D/AR ecommerce strategy will be left behind as 3D/AR produces immersive shopping experiences that customers expect, and results in 93% higher conversions and up to 40% reduced returns for merchants (shopify). Through 2022 we will continue to push for new customer wins and contract renewals, multiplying our ARR and MRR month over month.”
ARitize 3D is an AR solution that provides automated 3D model creation. The company’s Artificial Intelligence (AI) turns existing 2D product images into high-quality 3D and Augmented Reality experiences.
Winning new contracts, combined with renewals and expansion of existing contracts, is driving the rapid growth of the company’s 3D model and augmented reality business in eCommerce.
Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals.
Nextech (NTAR) is up 14.55 per cent on the day, trading at C$0.063 per share at 1 pm ET.
