Nextech AR Solutions (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a Metaverse company and leading provider of augmented reality (“AR”) experience technologies and services, has released a corporate update noting key business developments, including that CEO Evan Gappelberg continues to increase his ownership position by buying company shares. Most recently he purchased 50,310 shares in the open market, bringing his total ownership to 10,099,589 common shares. In addition, the update reported that the company’s e-commerce business is currently its main revenue source although it is anticipated that in the future AR and technology services revenue is expected to eclipse that of e-commerce. Nextech is focused on the development of several first-to-market SaaS platforms for AR and the Metaverse. The company also announced the signing of numerous AR ecommerce deals across a variety of industries, including winter sports equipment, ultra-specialized furniture markets, eyewear, consumer goods, handbags and more. By using Nextech’s ARitize 3D, these companies are able to offer their customers an immersive, engaging shopping experience that results in higher click-through rates and conversions, along with decreased returns. “It really feels like the whole world is going 3D, and I believe that the mass adoption of 3D models has started,” said Nextech AR CEO Evan Gappelberg in the press release. “Since the launch of ARitize 3Din October, we have signed over 60 new accounts, which have cumulatively purchased thousands of 3D models, and as our upcoming January 15th Shopify integration goes live, we expect that demand will only increase. This is a big validation of our efforts and showcases our 3D/AR tech stack as a true disrupter in the emerging multibillion dollar 3D model market. . . . With our AI- and CAD-powered 3D model factory, I believe that we have the highest-quality, lowest-cost, most-scalable solution anywhere. Currently, all signs are pointing to 2022 being a breakout year for everything 3D.”
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About Nextech AR Solutions Corp.
Nextech AR Solutions is a Metaverse company that develops and operates augmented reality (“AR”) platforms, transporting three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences. Nextech focuses on developing AR solutions for the Metaverse, however, most of the company’s revenues are derived from three e-commerce platforms: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances are sold on Amazon. For more information about the company, please visit www.NextechAR.com.
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