Nextech AR Launches Ground-Breaking Integrated SaaS Platform “Nextech Metaverse Suite”

Rhea-AI Summary

Nextech AR Solutions Corp. has launched the Nextech Metaverse Suite, unifying its 3D and AR software offerings into a single subscription-based platform. This integration is expected to enhance customer accessibility with a single login for various products including ARitize 3D, ARitize CAD, and ARitize Holograms. The initiative aims to significantly boost the company’s revenue through monthly and annual recurring revenue models. As the platform transitions toward SaaS, it emphasizes scalability and growth in the augmented reality market.

Positive

• Launch of Nextech Metaverse Suite enhances customer access to 3D and AR products.
• Potential for increased monthly and annual recurring revenue (MRR/ARR).
• Transition to SaaS model could drive significant revenue growth.
• Simplified user experience through a single login for multiple applications.

Negative

• None.

This integration of the Company’s 3D and AR SaaS offerings in one login portal marks a major milestone with substantial SaaS revenue implications

TORONTO--(BUSINESS WIRE)-- Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and services is proud to announce that it has achieved a major milestone with the launch of the Nextech Metaverse Suite. This Suite of Metaverse SaaS products unifies Nextech’s entire technology stack of 3D and AR products and apps into one, end-to-end seamless and easy to use SaaS subscription based platform.

(Photo: Business Wire)

In beta the metaverse suite was presented by the UI/UX designer Brynne Kennedy which can be seen here: click here

Nextech’s Metaverse Suite is easy to use. Customers will have a single login and account, giving them access to all of Nextech AR products as listed below:

• 3D Modelling (ARitize 3D, ARitize CAD, ARitize Configurator, ARitize Swirl)
• 3D Holograms (ARitize Holograms, ARitize CPG)
• 3D Mapping (ARitize Maps, ARitize Maps Studio)

Once a customer signs up they can launch the web-based apps, have access to helpful links, the support center, and learn about other products with more information, videos, and examples. This is a major milestone for the company and has significant revenue implications by increasing the Company’s potential for monthly and annual recurring revenue (MRR/ARR).

Max Hwang, SR. Vice President of Engineering at Nextech AR commented, “This unifying platform is a cross-team integration that requires an all hands on deck effort. We took a long-term view in gathering the requirements by soliciting not only from internal products but also from 3rd party applications. Metaverse Suite also introduces the new platform that our current and future products are being built on. The contemporary architectural design offers additional design and customization capabilities as we continue to add more innovative features.”

One 3D/AR model has endless possibilities and use cases. Watch the video of the 3D/AR model journey - click here

Brynne Kennedy, Director of UX/UI Product Design at Nextech AR commented, “The focus of the user experience for the Nextech Metaverse Suite design was to create a seamless experience for our clients, enabling them to access their files, and our products, all in one location and in one cohesive experience. We wanted to create a convenient and efficient experience where our clients can not only access and open all of our products, but to learn about upcoming products as well. It’s just the beginning of a multifaceted tool that’s going to be a game changer!”

Evan Gappelberg, CEO of Nextech AR commented, “I’m very excited about what we’re bringing to market today, and I think it’s game changing for our Company and the industry as well. Customers will not only be able to create and manage all of their 3D models in one location but also with a single click be able to add additional features and 3D technology to their accounts. They can create 3D models using 2D images or CAD files, and then embed those 3D product models directly on their website with a click of a button. Customers can then take it a step further, using those same 3D models and enhance them with the ARitize Configurator creating multiple product textures and colors, or choose our interactive ARitize Swirl 3D banners for their website. With the Nextech Metaverse Suite, the Company provides its customers with what they really want… the one-stop 3D solution that is high quality and scalable, in a seamless and frictionless environment - welcome to the Nextech Metaverse Suite!”

SaaS

As previously stated, Nextech views SaaS as a significant advancement of all its 3D modelling and augmented reality solutions. SaaS integration has enormous implications for scalability and the company's future revenue growth. With this SaaS rollout, the Company is moving away from its managed solutions and moving toward monthly recurring revenue (MRR), business scalability, and low to no-touch AR for ecommerce.

Nextech Metaverse Suite Product Descriptions

ARitize 3D

A WebAR Solution for eCommerce that is a component of the Nextech AR platform and is an end-to-end AR platform with content creation, hosting and viewing of AR/3D assets all in one. ARitize 3D for eCommerce tools give users the ability to embed a 3D model in a product page on an ecommerce website. This embedded experience, once rendered in a shopper’s browser, will provide a 3D model experience that a shopper can easily manipulate and explore. Works across all mobile and desktop devices on the web.

ARitize CAD

ARitize CAD enables the conversion of CAD files into 3D/AR models at scale. CAD is a function of product engineering. Industrial designers, working for product manufacturers, use CAD software (e.g., AutoCAD, SolidWorks, etc.) to design many of the products in the modern world. Using ARitize CAD, those files can be converted to 3D/AR models with the creation of photo realistic, fully textured 3D models from raw CAD models and reference images. This technology creates optimized 3D meshes that are suitable for 3D and AR applications.

ARitize Configurator

View custom made products with our configurator tool that swaps colors and textures at the click of a button.

ARitize Swirl

An ARitize Swirl is a swirling (rotating) 3D asset on the header or page of an ecommerce website. In a few simple steps, any customer can create a fully interactive ARitize Swirl 3D/AR banner using their existing 3D models and embed them into their ecommerce website to create 6X higher purchase intent, increase conversions and click-through rates. The ARitize Swirl self-serve creator tool is an upsell opportunity for existing ARitize 3D clients, and allows for the creation and management of 3D and AR banners for their ecommerce websites, highlighting the products that clients wish to promote.

ARitize Holograms

ARitize Holograms is Nextech's human hologram creator mobile app. Currently available in the apple iOS store. ARitize Holograms lets you CREATE, SHARE and VIEW holograms on your smartphone device. It is as easy as creating a video. No green screen or technical equipment required; anyone can create themselves as a human hologram in minutes.

ARitize CPG

ARitize CPG (CPG = Consumer Packaged Goods) is an Augmented Reality hologram experience, triggered by a visual anchor such as a QR code placed on product packaging, in-store aisles or end-cap displays. This interactive AR hologram takes smart packaging to a new level with exciting 3D objects, innovative visual effects and engaging episodic content.

ARitize Maps

An all-in-one metaverse creation studio allowing users to spatially map their location and populate it with interactive 3D objects, navigations, wayfinding, audio and more. ARitize Maps is a smartphone application available on iOS and android for authoring, sharing and viewing location-persistent AR experiences and AR Navigation. It is a self-serve solution, and all is done on a smartphone device in a matter of minutes.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.

About Nextech AR

Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.

Nextech funds the development of its AR and Metaverse growth initiatives through its e-Commerce platforms, which currently generate most of its revenue. Nextech's e-commerce platforms include: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology.

Forward-looking Statements

The CSE and the NEO have not reviewed and do 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005292/en/

Investor Relations

Lindsay Betts

investor.relations@Nextechar.com

866-ARITIZE (274-8493) Ext 7201

Source: Nextech AR Solutions Corp.

FAQ

What is Nextech AR Solutions Corp. announcing?

Nextech AR is announcing the launch of the Nextech Metaverse Suite, a unified platform for its 3D and AR products.

How does the Nextech Metaverse Suite affect revenue?

The integration is expected to increase the company's potential for monthly and annual recurring revenue.

What products are included in the Nextech Metaverse Suite?

The suite includes ARitize 3D, ARitize CAD, ARitize Holograms, among others.

What is the significance of the SaaS model for Nextech?

The SaaS model is viewed as a significant advancement, enhancing scalability and potential revenue growth for Nextech's AR solutions.

What benefits does the single login provide to Nextech customers?

Customers can access multiple 3D and AR products seamlessly with one account, improving user experience.