- Nextech AR Solutions (NTAR) has announced the signing of multiple new 3D modelling deals for e-commerce
- The company has been contracted to produce approximately 400 3D models
- The global e-commerce industry is estimated at $5.5 trillion in 2022 with roughly 2 billion people now shopping online
- Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals
- Nextech (NTAR) is down 3.85 per cent, trading at C$0.50 per share at 10:30 am ET
Nextech AR Solutions (NTAR) has signed multiple 3D modelling deals for e-commerce.
The Company has been contracted to produce approximately another 400 3D models from these new deals, showcasing the accelerating demand for Nextech’s state-of-the-art AI-powered ARitize 3Dand ARitize CAD technologies.
CEO Evan Gappelberg commented on the news.
“I believe that 3D models are a must have in 2022 and beyond and that it will become increasingly difficult and eventually impossible to compete and do business online without 3D models when your competitors are adopting this technology. 3D technology gives ecommerce leaders a competitive edge during both a good and challenging economy such as now. What’s ultimately pushing ecommerce leaders to move toward 3D models is the bottom line impact of profitability or ROI.”
He continues, “Due to a high ROI we’re seeing a rapid market adoption, which is evident through our consistent flow of ARitize 3D deal signings across various industries as reported here. We’re pleased to keep announcing deals because we keep signing deals! It is a very exciting and dynamic time at Nextech as 3D models and really all our Metaverse technology that we have spent the last four years building is being adopted. I believe that our current share price is not reflecting our potential.”
Nextech charges its ARitize 3D customers a recurring monthly fee between $10-$50/model under a 12-month contract that auto-renews. The company is pleased to report that it’s experiencing success with this new business model which was only launched in Q4 of 2021 and is seeing strong repeat orders from existing new clients.
With a 3D model, clients can interact with the product to see every detail with a 3D model: turn it, spin it, zoom in, zoom out, leading to 40 per cent lower product returns, 93 per cent higher click-through rate and a 90 per cent reduction in product photography costs. The company believes that this value creation and ROI are leading to the rapidly growing demand for Nextech’s 3D technology.
Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals.
Nextech (NTAR) is down 3.85 per cent, trading at C$0.50 per share at 10:30 am ET.