InvestorNewsBreaks – Nextech AR Solutions Corp. (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29) Inks Enterprise 3D Modeling Expansion Deal, Adds New S&P 500 Customer
Jan 17, 2023
Nextech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a metaverse company and leading provider of augmented reality (“AR”) experience technologies, wayfinding technologies and 3D model services, has announced the expansion contract with Majid Al Futtaim; the contract calls for thousands of 3D model products. Majid Al Futtaim is a branding partner for world-class fashion and retail brands with more than 100 stores across the Middle East, North Africa (“MENA”) region, including some of the world’s best-known brands, such as Crate & Barrel, Abercrombie & Fitch, Hollister, AllSaints, and lululemon Athletica. Nextech also now supplies 3D models for other well-known companies, including Procter & Gamble, an S&P 500 company, and Bunnings, the largest retailer of home improvement supplies in Australia and New Zealand. The company is also reporting that it is discussing agreements and contracts with other major retailers. In fact, Nextech expects to sign a record number of new deals for 3D models this year. The company expects to sign new contracts or renew 3D model contracts in an array of industries, including specialty products, specialty outdoor furniture and equipment, sports equipment, and furniture and home goods.
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About Nextech AR Solutions Corp.
Nextech AR Solutions is a diversified augmented-reality, AI-technology company that leverages proprietary artificial intelligence to create 3D experiences for the metaverse. The company’s main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. Nextech develops or acquires what it believes are disruptive technologies and, once commercialized, spins those technologies out as standalone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spinout. On Oct. 26, 2022, Nextech AR spun out its spatial computing platform, ARway, as a standalone public company. Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed in Canada (CSE: ARWY), in the United States (OTC: ARWYF) and internationally (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no-beacon spatial computing platform enabled by visual marker tracking. On Dec. 14, 2022, Nextech AR announced its second spinout of Toggle3D, an AI-powered 3D-design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023. For more information about the company, please visit www.NextechAR.com.
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