Nextech AR’s Toggle-3D Disrupting The Rapidly Growing CAD-3D Model Market

Rhea-AI Summary

Nextech AR Solutions Corp. (OTCQB: NEXCF, CSE: NTAR) has announced significant updates to its Toggle3D Design Studio, a web-based application enhancing 3D modeling for product designers and marketers. Innovations include a breakthrough PBR material creation flow, reducing material design time from days to minutes, and expanded CAD conversion capabilities. The platform's user-friendly features aim to disrupt the $11 billion CAD market, attracting various early adopters. CEO Evan Gappelberg expressed optimism about revenue growth as Toggle3D prepares for commercial launch.

Positive

• Toggle3D's PBR material creation reduces design time significantly, enhancing productivity.
• The platform is set to disrupt the $11 billion CAD market with its user-friendly features.
• Strong early adoption from diverse industries indicates positive market reception.

Negative

• None.

• Toggle3D is introducing break-through PBR material creation flows that reduces the material creation time from days to minutes
• Toggle3D Supports NEW File Formats & Expanding CAD Conversion Capabilities
• Toggle3D eliminates the complexity of texturing 3D models

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, wayfinding technologies and 3D model services is pleased to announce multiple platform development updates to its Toggle3D Design Studio.

Launched in September, Toggle3D is an AR enhanced standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required. The Company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale. According to BIS Research, the CAD market, quantified by the amount spent on the creation of CAD files, is projected to reach $11 Billion dollars by 2023.

CEO Evan Gappelberg commented, "I’m super excited with these new developments of our flagship SaaS platform Toggle3D which is set to disrupt the $11 billion CAD market. We believe that Toggel3D will drive a significant amount of revenue and value for Nextech shareholders as we are quickly moving out of Beta where we are getting incredibly positive feedback, to a full commercial launch later this month."

Since its Beta launch, Toggle3D has been successfully attracting and working with early adopters as the development of the platform continues. This early adopter group includes manufactures, production agencies, design agencies, industrial software companies and XR startups. These users are looking for a 3D modeling creation workspace for use-cases such as prototyping, design decision-making, content population in XR scenes and marketing applications. The user personas are business owners, graphic designers, 3D artists, product designers, marketing teams, and operations teams that are all either looking to replace their legacy platforms because they are no longer meeting their needs, are new to the 3D ecosystem, or are facing 3D creation bottlenecks and are looking for a more scalable solution.

Watch a video showcasing the Toggle3D platform - click here

Product Development Updates:

• Material Creation: Toggle will be releasing a new template in the platform for material creation. Recreating a material from scratch today can take anywhere from 120-240 minutes depending on its complexity and the artist's experience. Now imagine if you have 5X or even 10X materials on a simple object it could take days to finish. In Toggle3D, we have developed a break-through PBR material creation flow that reduces the time from hours or days to minutes. From start to finish it lets anyone transform a 2D reference image into a high-quality realistic PBR material with no technical experience necessary from the user. This is possible due to the generation and training of advanced learning algorithms that have been brewing in NextechAR’s research and development hub for some time now.
• Supports NEW File Formats & Expanding CAD Conversion Capabilities: Toggle3D will be able to welcome new file format imports and will introduce improvements to its CAD file management. With the goal of simplifying this process, we are employing logic that allows parts from CAD conversions to be automatically named, grouped and filtered in a way that decreases the file organization flow effort by more than 200%.
• Advanced Editing Features:
  We have introduced three NEW tools:
  • A Lighting Environment: This is a pre-set lighting library that allows users to change between environments to see how materials would look in different settings.
  • Advanced Material Property Editing: Users can adjust the roughness, glossiness, transparency, and intensity of a material finish to best match their desired output. This can be done on any materials in the preset library, or any materials created in the new template.
  • Adjustment of UV Settings: This allows a user to change the way a texture looks on the model regarding size, rotation and position of the pattern

• NEW Branding Underway: Toggle 3D has a new logo and is undergoing a UX/UI lift that streamlines the user workflow.

Top Three Competitive Advantages of Toggle 3D Versus 3D Legacy Software Generating $10 Billion In Revenue

1. NO Learning Curve:
What makes Toggle3D different from the legacy 3D design software is its ease-of-use and democratization of 3D design. The goal is for anyone with no prior technical or 3D design experience to be able to hop into the platform and create a high-quality 3D visual in minutes. This is unlike legacy 3D modeling systems, that require months to truly feel comfortable with. Users would first be required to learn and understand the industry lingo, learn what the tools do and then learn how to use them in the legacy software. Meanwhile, we have streamlined this process in Toggle3D by “humanizing” 3D design terminology, creating templates to guide creation and simplifying the tools using machine learning to transfer the complexity out of the user experience into the backend platform, and instead allow more room for creativity.

2. Web-based:
Toggle3D is a web-based design studio which means the user can access everything on the browser and start designing instantly. No desktop downloads involved, no updates to keep track of, and no system requirements to worry about. All the templates are organized into project panels that a user can access anywhere and seamlessly navigate between. This is different from how legacy software were built back in the day with the software package being broken out into multiple desktop apps that would require the user to understand system compatibility, download, sync, and learn independently.

3. Collaboration:
Toggle3D will allow advanced, in-app collaboration. These new sets of features will allow multiple users to work at the same time and on the same project resulting in quick feedback and decision making cross-department, and team. These tools will allow businesses to adopt 3D organization-wide and unlock the power of group iteration. Users could set up workflows, permissions, and version history to keep up with real-time design changes. These advanced collaboration cycles are harder to set up in desktop apps and may sometimes slowdown or isolate the design workflow.

About Toggle3D
Toggle3D is a breakthrough standalone AR enhanced web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required.

Toggle3D is a completely self-serve platform that contains an extensive pre-built library of high-quality over 1000 PBR materials. Toggle3D makes things easy, with a friendly user interface that works for the user and makes the entire 3D journey seamless and predictable. The user is fully in control of their design output.

CEO Evan Gappelberg joined the Wall Street Reporter’s NEXT SUPER STOCK for a livestream event, where he discussed the new Toggle3D product and provided a live demo of the platform. Watch the replay - click here

Sign up for the Toggle3D platform - click here

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221108005406/en/

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)

Source: Nextech AR Solutions

FAQ

What is Toggle3D by Nextech AR Solutions?

Toggle3D is an AR-enhanced web application that enables non-technical users to create high-quality 3D models quickly.

How much time does Toggle3D save in material creation?

It reduces material creation time from days to minutes.

What market does Toggle3D aim to disrupt?

Toggle3D aims to disrupt the $11 billion CAD market.

When is the commercial launch of Toggle3D?

The full commercial launch of Toggle3D is expected later this month.

What improvements have been made to Toggle3D's CAD conversion capabilities?

Toggle3D will support new file formats and simplify CAD file management, improving organization flow by over 200%.