TORONTO–(BUSINESS WIRE)–Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse company and leading provider of augmented reality (“AR”) experience technologies and services is Glad to announce that the company is now a 3D model provider for the world’s largest Prime e-commerce marketplace. In addition to this significant achievement, in the past 45 days the company has signed 17 new 3D modeling agreements, continuing its rapid expansion and growth towards Web 3.0 and the creation of digital twins for e-commerce.
Nextech AR CEO Evan Gappelberg said, “A growing number of companies within the e-commerce ecosystem are recognizing the game-changing ROI and customer satisfaction by implementing 3D/AR models. on their e-commerce websites. We currently work directly with some of the largest eCommerce retailers in the world and are integrated with the largest eCommerce marketplaces including Shopify, BigCommerce and WooCommerce, all of which are now deploying 3D/AR and setting the standard for Web 3.0 in e-commerce. In my opinion, it’s obvious that it won’t be long before all e-commerce businesses need to follow suit to stay competitive in the market. He continued, “We strongly believe that the transition from flat 2D photos to 3D models is in full swing and that 3D models are now established as the standard in e-commerce across the world. Businesses that don’t adopt a 3D/AR e-commerce strategy will be left behind as 3D/AR produces immersive shopping experiences that customers are beginning to expect. With our end-to-end solutions, premium service, and ability to scale production, Nextech AR is becoming the leader in the digital twin of e-commerce.”
According to Shopify3D augmented reality product models have been shown to generate a 94% increase in conversions and a 40% off in online returns. On some product pages, 3D/AR models have increased conversion rates by up to 250%.
Popular categories for 3D models on Amazon and other sites include:
Garden and tools
Kitchen and dining room
bed and bath
Garden and outdoor
Shoes and glasses
In addition to being a 3D model provider for the world’s largest premier e-commerce marketplace, Nextech AR has also secured several new 3D modeling deals (listed below) for e-commerce, providing the company a steadily growing base of ARR (annual recurring revenue) and MRR (monthly recurring revenue). 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 e-commerce and growth towards Web 3.0.
Examples of new customers won:
Furniture and household items
Nextech AR has signed a variety of new ARitize 3D contracts for the supply of 3D models to suppliers of Furniture and Equipment:
Surplus Furniture, a major furniture and mattress retailer in the United States and Canada;
Loft, a supplier of high-quality, affordable home and office products made by experts around the world;
Marina Homes, a well-known and highly successful home furnishings brand that continues to evolve and reinvent itself, fusing the urban with the exotic, embracing the diversity of adventure by sourcing products from around the world;
Relax Sedmaisiai, specialist relaxation chair supplier.
These 3D models will allow customers to “try before they buy”, increase sales conversion and reduce returns, which is especially important for this industry. The furniture and home goods industry is a very successful industry for the Company, and these latest contracts continue to support it.
Sports Basement, a California-based sporting goods supplier, has signed up with Nextech to provide 3D models of their best-selling bikes, with the option to extend 3D capabilities to their other products.
This follows several sport-related ARitize 3D offerings, including Kindred Snowboards, North by North, MGI Golf, Marker Deutschland, Head, Himibike, Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for Sports, Joyride Bikes and others.
Nextech AR has expanded its reach and now partners with marketing agencies and other agencies to provide templates for third-party clients. The latest signatures in this area relate to niche products, such as a jar of Nutella, whiskey glasses and a Wedgwood plate. These signatures underline that more and more retailers are asking for 3D models in the e-commerce space and that their marketing agencies are turning to Nextech to find solutions for their customers.
ARitize 3D is your one-stop AR solution with automated 3D model creation at an unbeatable price. Our artificial intelligence (AI) will transform your existing 2D product images into high-quality 3D and augmented reality experiences. It’s fast, it’s easy, and it will transform your e-commerce website.
With a 3D model, customers can interact with the product to see every detail: turn it, rotate it, zoom in, zoom out, resulting in a 40% drop in product returns, a 93% higher click-through rate % and a 90% reduction of the product. photography costs. The Company believes that this value creation and return on investment is driving rapid growth in demand for the Company’s 3D technology. Transform your online store into a dynamic virtual showroom. 3D models allow customers to view products from all angles and position them in their own space before purchase. It’s an exciting and immersive shopping experience that keeps customers more engaged and informed and helps your brand stand out from the competition.
ARitize 3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
- Affordable – cheapest provider
- Scalable – faster, seamless, high quality
- Without friction – requires little effort to implement
- Powered by AI and ML – automated creation of 3D models
- end to end – from model creation to CMS & AR visualization
Brands are invited to Contact us to let our team help you start selling using 3D models for your online store today.
The Company is also announcing today that in order to manage its cash flow and reduce or eventually eliminate its reliance on raising capital for payroll, it has implemented a new equity warrant program. shares pursuant to which it will issue a total of 7,434,115 share warrants (the “Warrants”) to its service providers under their employment and/or consultancy contracts with the Company. may be exercised to acquire one common share of the Company (an “Underlying Share”) at an exercise price of C$0.84 for a period of one year. The Warrants will be automatically exercised in monthly installments equal to the pro rata over the term of the Warrants, and the exercise price will be satisfied by the monthly salaries otherwise payable by the Company to the beneficiaries of the Warrants.Upon exercise, the beneficiaries of the Warrants may elect to receive the shares shares or participate in a managed sale program to sell the underlying shares on the open market and receive the cash proceeds. Any shortfall resulting from participation in such managed sales program will be funded by the Company.