Nextech's
Breakthrough Generative AI Positions Company For Breakout Revenue
Growth in 2023
Generative
AI Driving
Exponential Growth in Nextech's Web3.0 portfolio of technologies
for ecommerce
Enables
Scaling 3D Model Production
TORONTO, O.N,
Canada -- January 10, 2023 -- InvestorsHub NewsWire
-- Nextech
AR Solutions Corp.
("Nextech" or the
"Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a Metaverse Company and leading provider of
augmented reality ("AR") experience technologies, and 3D model
services announces a patent update covering the Company's
breakthrough artificial intelligence (AI) technology 3D model
creation. Also, the Company is pleased to report that this
proprietary AI-based 3D model creation using through composition of
deformable parts is now covered under: US patent application #
17/874,992.
ARitize 3D is the company's One-Stop-Shop in 3D + AR solution for
eCommerce.
Nextech AR's generative AI is a
game-changer by solving the multi-billion dollar 3D model supply
problem for the ecommerce market with this proprietary AI
technology. In
November 2022, Nextech AR
announced it had filed a patent titled, "GENERATING THREE-DIMENSIONAL
MODELS BY PART." At the
time, the Company began to implement this breakthrough part-based
3D model creation technology. Now the Company is scaling its 3D
models by rapidly expanding its library of 3D model parts past
100,000 by using through composition of deformable
parts.
Watch a video
demonstrating this breakthrough innovation:
click here
Evan
Gappelberg, CEO of Nextech commented, "Today we are leveraging the
game-changing power of generative AI which we believe gives us a
major competitive advantage in the 3D model market. With generative
AI we are creating an increasingly wider exponentially growing
moat: the more models we make, the larger that part library gets,
and the easier it gets to make new 3D models. I believe that we are
at the point where the value of Nextech goes up with each new 3D
model we make, creating a virtuous cycle of growth and value." He
continued, "2023 is going to be the year of AI. We have already
announced multi-million dollar enterprise contacts and more are
expected in 2023. With our breakthrough AI that we are continuously
developing, we are becoming the global go-to 3D model supplier for
ecommerce. With hundreds of millions of 3D models needing to be
made, we have been heavily investing in AI which is now paying
dividends. Our proprietary breakthrough AI perfectly positions us
to take full advantage of the multi-billion dollar decade long 3D
model mega-trend!"
ARitize 3D 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 Nextech's AI
powered 3D part-library, which is expected to have upwards of
1,000,000 individual, unique parts. Nextech is in the process of
significantly expanding this large library and its utility, which
will scale 3D model production. The more models the Company makes,
the larger that part library gets, and the easier it gets to make
new 3D models.
The Company's innovation
protected under patent application 17/874,992 allows Nextech to
create new 3D models by searching, assembling and fine-tuning 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.
Pursuant to an engagement
letter with Coachman's Research Program, the Company has issued
26,666 common shares at a price of $0.75 per share, for services
provided. All securities issued pursuant to the
engagement will be subject to a hold period of four months plus a
day from the date of issuance and the resale rules of applicable
securities legislation.
About
ARitize 3D
ARitize 3D is
your one-stop-shop AR solution with automated 3D model creation at
an unbeatable price. Our Artificial Intelligence (AI) will turn
your existing 2D product images into high-quality 3D and augmented
reality experiences. It's fast, it's easy and it will transform
your eCommerce website.
With a 3D model, clients
can interact with the product to see every detail: turn it, spin
it, zoom in, zoom out, leading to 40% lower product returns, 93%
higher click-through rate and a 90% reduction in product
photography costs. 3D models allow customers to see products from
every angle and position them in their own space prior to
purchasing. It's an exciting, immersive shopping experience that
keeps customers more engaged, and better informed and helps your
brand stand out from the competition.
The Company believes that
this value creation and ROI are leading to the rapidly growing
demand for the Company's 3D technology.
ARitize 3D is the
companies One-Stop-Shop in 3D + AR solution for
eCommerce
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
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)
About
Nextech AR
Nextech AR Solutions
(OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2) is a diversified AR, 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
Nextech AR spun out its spatial computing platform, "ARway" as a
stand alone public Company. Nextech AR 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. To learn more
about ARway, visit
https://www.arway.ai/
On December 14, 2022
Nextech AR 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 Toggle3D,
visit
https://toggle3d.com/
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.
