InvestmentPitch Media Video Discusses Nextech AR Solutions’ New Patent for AI Technology 3D Model Creation and 2nd Pending Spinout, Positioning Company for Exceptional 2023

Rhea-AI Summary

Nextech AR Solutions Corp. (OTCQX:NEXCF), a leader in augmented reality, announced a patent update for its AI technology in 3D model creation. The patent, filed in November, enhances their existing library of over 100,000 3D model parts, streamlining model creation. Following a successful spinoff of ARway, contributing $17 million to market cap, the company also plans to spinoff Toggle3D, enabling easy 3D model creation for various professionals. The global CAD market is projected to grow significantly, indicating potential for Nextech's continued expansion.

VANCOUVER, British Columbia, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Nextech AR Solutions Corp. (OTCQX:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse Company and leading provider of augmented reality experience technologies and 3D model services, announced a patent update covering its artificial intelligence technology 3D model creation. The patent titled “Generating Three-Dimensional Models by Part” was filed in November.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from Nextech AR’s CEO, Evan Gappelberg. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Nextech” in the search box.

At that time, the company began implementing this breakthrough part-based 3D model creation technology and by using what it calls “through composition of deformable parts” has expanded its library to more than 100,000 3D model parts. These parts are used to create a 3D model as most 3D models are composed of several individual parts. Every time a new 3D model is created, the parts are harvested into Nextech’s AI powered 3D parts library, thus expanding the library, which in turn makes it both easier and quicker to create new 3D models.

The company has been a favorite with investors lately, particularly following the highly successful spinoff of ARway in October. With ARway currently trading at $1.32, Nextech’s holdings of 13 million shares are contributing more than $17 million to Nextech’s market capitalization.

On December 15th, the company announced plans to spinoff of Toggle3D which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models without any technical or 3D design knowledge. The record date for this spinoff has not yet been set.

According to a recent report by Research and Markets, the world’s largest market research store, the global computer aided design market is expected grow from US$9.89 billion in 2022 to US$17.47 billion by 2030, a compound annual growth rate of 6.9%.

The shares are trading at $0.80. For more information, please visit the company’s website at www.NextechAR.com. Investor Relations is handled by Lindsay Betts, who can be reached at 866-274-8493 Ext 7201 or by email at investor.relations@nextechar.com.

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Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Nextech AR Solutions has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the latest patent update for Nextech AR Solutions (NEXCF)?

Nextech AR Solutions announced a patent for its AI technology in 3D model creation, filed in November.

How does the new patent impact Nextech's business strategy?

The patent enhances Nextech's ability to create a larger library of 3D model parts, improving efficiency in model creation.

What financial impact did the spinoff of ARway have on Nextech (NEXCF)?

The spinoff of ARway added over $17 million to Nextech's market capitalization.

What is the expected growth of the CAD market relevant to Nextech (NEXCF)?

The global CAD market is projected to grow from $9.89 billion in 2022 to $17.47 billion by 2030, indicating strong industry potential.

What products are targeted in the upcoming spinoff of Toggle3D?

Toggle3D aims to help product designers, 3D artists, and marketers create high-quality 3D models without technical skills.