- NexTech AR Solutions (NTAR) has announced the launch of new capabilities for the company’s recently acquired AiRShow music app
- As of early November, the hologram app will have in-app purchases and ticketing facilities available to users
- NexTech is also working on creating virtual venues for events in the app, which should launch before 2020 ends
- The company believes that the market for holograms and augmented reality (AR) is rapidly expanding beyond just the music industry
- NexTech AR Solutions (NTAR) is up 3.09 per cent and is currently trading for $8.68 per share
NexTech AR Solutions (NTAR) has announced the launch of new capabilities for the company’s recently acquired AiRShow music app.
The company announced the acquisition of the app from TRICK 3D in late September for C$300,000 in cash and common shares. The AiRShow application allows user to buy tickets to live music shows in their own homes.
Specifically, the app turns your favourite music artist into a live hologram, which you can interact with in your living room. The use of holograms to go where live concerts and performances can not has recently become very valuable amid ongoing COVID-19 lockdowns.
Since acquiring the hologram app, NexTech has updated it to include various new facilities, including in-app purchases and ticketing capabilities. The ticketing feature will provide a much-needed solution for music artists, who may struggle to create revenue during the COVID-19 pandemic.
These features will become available to users sometime in early November, 2020. The company is also working on creating virtual venues for events in the app, which should launch before 2020 ends.
NexTech’s CEO, Evan Gappelberg, believes that human holograms can become a multi-million-dollar business as the technology advances to disrupt entire industries.
“It’s a very exciting time for our AR business, as the adoption of augmented reality is happening very fast, stimulating us to aggressively hire talent to ramp up our delivery of client projects as well as invest in and accelerate the development of our new AR capabilities.
“We are in a unique position as we are a diversified company in the fastest growing business segments of the global economy including AR, eCommerce, video conferencing, virtual events, and 3D/AR advertising,” he said.
NexTech AR Solutions (NTAR) is up 3.09 per cent, and trading for $8.68 per share, as of 1:25pm EDT.