Nextech AR Solutions is a Metaverse company that develops and operates platforms critical to creating and populating the Metaverse, including spatial mapping technology and augmented reality (“AR”) solutions. These include three-dimensional (“3D”) product visualizations, human holograms, 360° portals and augmented labs that alter e-commerce, digital advertising, learning in higher education, hybrid virtual events and training. Market applications for Nextech’s various metaverse platforms include ecommerce, ads & marketing, education, and event solutions, giving Nextech AR a strong foothold in what looks to be the foundation of Web 3.0.
One of the most exciting growth markets to keep an eye on, is the Metaverse. Just recently, companies like Facebook, Epic Games, Microsoft, Unity, Nike, Adidas, Budweiser, and more have all joined the Metaverse revolution and are looking to companies like Nextech and others to provide 3D and AR solutions. Nextech is providing the market with unique, scalable solutions that are designed to dramatically impact the bottom line and enable brands and companies to monetize the Metaverse. The burgeoning Metaverse industry will provide an $800 Billion market opportunity by 2024, and we think Nextech is going to grow right along with it.
Diverse Offerings – Nextech is innovating across multiple verticals including Advertising, E-Commerce, Events, Higher Education and more.
2021 Results Rapid Growth Is Being Fueled by Innovation
Nextech AR Q3 Financial Highlights:
Revenue of $5.8 million, an increase of 21% (compared to the same period in 2020)
Year-to-date revenue of $19.61 million, an increase of over 83% (compared to the same period in 2020)
Nextech AR Q2 Financial Highlights:
Revenue of $6.1 million, an increase of over 73% (compared to the same period in 2020)
Year-to-date revenue of $13.8 million, an increase of over 130% (compared to the same period in 2020)
Total Bookings of $1.7 million, an increase of over 300%
4 Ways Nextech is Transforming the Industry
01 Measurable ROI —
Nextech’s innovative, end-to-end metaverse solutions are designed to drive sales, engagement, increase product awareness, and other measurable metrics. 02 Groundbreaking Tech —
Nextech is pioneering multiple AR technologies in several verticals, including human holograms, AR product visualization, 3D AR models for ecommerce, AR advertising, augmented packaging solutions, and augmented labs for higher education.
03 Fortune 500 Clientele —
Companies like Kohls, K-Mart Australia, Pier 1, Sears, Amazon, TEDx, Bell Canada, and many more trust Nextech with their business.
04 Solving a $300B Problem —
Product returns represent $300B of lost e-commerce revenue, and Nextech’s AR solutions have been shown to reduce returns by as much as 40%, while increasing conversions by 94%. That’s a massive difference in potential revenue for online retailers.
The Race to the Metaverse
So what exactly is the Metaverse? Great question. The Metaverse is the convergence of our physical and digital lives. It is the new Internet, enhanced to deliver 3D content, spatially organized information & experiences. The race to the Metaverse is a very real thing. Many digital leaders believe it is the next step in the internet and computing as a whole. Cathie Wood says the metaverse could be worth trillions and will affect the world in ways ‘we cannot even imagine right now.’ Big tech recognizes this opportunity, and multiple companies including Facebook (now Meta), Epic Games, Microsoft, Unity, Nike, Adidas, Budweiser, and more have all joined the Metaverse revolution and are looking to companies like Nextech and others to provide 3D and AR solutions. In November, Nextech officially rebranded as a Metaverse company, and is in a prime position to become a Metaverse leader. CEO Evan Gappelberg joined Benzinga All Access to discuss the Metaverse opportunity:
While the technology continues to catch up to the eventual applications, someone must build the framework for this massive undertaking. That’s where Nextech comes in. Their revolutionary technology allows users to build mini-metaverses. Nextech would be a first mover in this innovative area, utilizing spatial mapping and augmented reality applications to create and populate the metaverse and provide the fundamental building blocks to this unbelievably exciting development.
In a recent press release, Nextech CEO Evan Gappelberg stated, “Creating the metaverse is the most ambitious thing we can accomplish as an augmented reality company. The potential for Nextech to be first to market with mini-metaverses, spatial maps as NFT’s in the metaverse and leveraging our creator platform to populate the metaverse with content at scale is super exciting to me.” He continues, “with our global sales and marketing machine, our combined AI teams and our existing AR tech and resources as a public company, I’m convinced that we will quickly take a leadership position in the AR metaverse.”
Nextech’s ARitize Metaverse Studio, is currently available as a managed service but is expected to be released as a SaaS solution in early Q1 2022, bringing all of Nextech’s solutions together into one, easy to use, web-based studio. Nextech’s customers can access all their 3D assets, compose AR experiences, and publish them into the Metaverse in any format. In ARitize Metaverse Studio, customers can manage 3D/AR content and point cloud maps, which are used for localization. It also gives users the ability to update these point cloud maps and 3D/AR content in their application in real-time. ARitize Metaverse Studio will assist in managing and creating mini-metaverse environments such as shopping malls, airports, museums, university campuses, and more.
To further align with their Metaverse vision, Nextech AR has also integrated with Coinbase Commerce to accept cryptocurrency as an optional payment method. The company believes that Crypto economies are the next emerging market and that Crypto will be a major payment method in the Metaverse. New customers will have the ability to choose from several cryptocurrencies for payment, including Bitcoin, Ethereum, Litecoin, and USD Coin. Evan Gappelberg, Nextech AR CEO commented, “Cryptocurrency has emerged as a critical part of the evolution of finance, just as the Metaverse is the evolution of the internet from 2.0 to 3.0. With this Coinbase integration, Nextech is positioning not only as a Metaverse technology company that offers Metaverse solutions to its customers but also as an end-to-end Metaverse company that accepts crypto, keeping us ahead of the curve in everything we do.”
How Nextech Could Save Online Retailers Billions of Dollars
One of the biggest problems for ecommerce businesses (to the tune of $300B), is returns. It makes sense. People order things online, and when the item arrives it just isn’t quite right in some way. So, they send it back and get a refund. No harm, no foul. Unless you’re the retailer. In that case, you’re looking at a huge amount of lost revenue, and possibly even a damaging review. Click here to learn more– How Augmented Reality Changes The Economics of Online Furniture Sales
To solve this massive issue, Nextech has acquired Threedy.ai (recently rebranded to ARitize 3D). ARitize 3D is a true game-changer for 3D models in the ecommerce world. Having 3D AR representations of products has been shown to reduce returns by up to 40% and increase shopping cart conversions by 94%. That’s over $100B in saved revenue every year! So why doesn’t every retailer offer AR-enabled shopping? It’s simply a matter of scaling; at the moment, creating 3D models of products is expensive and time-consuming. Each product must be individually examined, designed, and rendered by an AR expert to make a usable image. But Nextech’s advanced AI allows excellent 3D models to be created with just a picture of the item. Nextech can now offer big box retailers like Kohls, Pier 1, Sears, and K-Mart Australia (who are already clients) quick, affordable, scalable, high-quality 3D models for an immersive shopping experience.
“With our integrated platform powered by AI, users can quickly transform 2D objects into AR-enabled 3D, while removing the friction that currently exists within the customer value chain. Simply – one will be able to take a photo, convert it to a high-resolution 3D model within minutes, and have that item displayed on a phone or device in augmented reality in webAR. This is a true game-changer for e-commerce businesses and product manufacturers alike, and for the more than 100 million and growing consumers shopping with AR online and in stores today who are driving the mass adoption of augmented reality in everyday life.”
Initially offered only as a managed service to large enterprise companies, the Company is so confident in this technology that it is now offering the same solution as a self-serve SaaS tool for anyone to leverage. This opens up the technology to anyone with an ecommerce site, allowing them to offer webAR shopping experiences on their website. Whether the customer wants to create 5 models or 500 models, they just have to sign up, enter a credit card payment method, and enable webAR for their website. To make this process even easier as demand for 3D models rises exponentially, Nextech is expanding this self-service SaaS offering as a 1-click integration directly into the world’s largest ecommerce platforms, which will be available to all merchants as a plugin. Over Q1 and Q2 of 2022, Nextech will integrate with Shopify, WooCommerce, and Magenta, who collectively represent over 7 million ecommerce merchants globally.
Nextech AR CEO Evan Gappelberg joined Proactive investors to discuss the news:
CAD TO POLY SOLUTION
In a recent press release, the Company announced it has filed a provisional patent covering the conversion of CAD files into 3D models. CAD to 3D model conversion capability implies drastically improved scalability associated with Nextech’s 3D models for ecommerce, with the creation of photo realistic, fully textured 3D models from raw CAD models and reference images. This technology will greatly reduce the cost and accelerate the CAD conversion process across industries.
CEO Evan Gappelberg commented on the technology, “Most modern products that have ever been built have been manufactured from reference CAD models. Think of it, that’s billions of products worldwide, and Nextech has invented an easy way to turn them into 3D models. Instead of using 2D images to create 3D models, we now have the ability to go straight to the source, where the products are designed by engineers (CAD files) and render these into perfect 3D models, at scale. Our new CAD to POLY solution is backed by technology that will prove to be the holy grail of scaling 3D content.”
Nextech AR CEO Evan Gappelberg and CTO Nima Sarshar, joined Proactive investors to discuss the news:
A recent Network News Wire article illustrated just how big an opportunity there is in the online education space. As stated in the piece, the global EdTech market is estimated at $106 billion and forecast to expand at a 19.9% CAGR through 2028. Nextech, who is already partnered with Microsoft, Ryerson University, and more, is already well-positioned to take advantage of that growth.
Earlier this year, Nextech AR announced its partnership with Microsoft to power EdTechX (recently renamed to ARitize University) and its suite of enhanced augmented reality solutions for education. Nextech’s global higher education solution combines enterprise scale video streaming, integrated assessments, augmented reality holograms, augmented reality labs and data analytics. Higher education institutes such as Ryerson University, Carnegie Mellon University have successfully implemented ARitize University in their daily operating businesses. Additionally, in June Nextech’s ARitize University, built on Microsoft Azure – had achieved Co-sell Ready status becoming an approved Microsoft Co-sell Partner and allowing the Company to work with Microsoft sales teams to actively fulfill customer needs across a global marketplace.
ARitize University is currently on Azure marketplace and discoverable to millions of customers across 141 geographies and provides access to Microsoft’s existing procurement relationships.
ARitize University ARitize University is an online education platform that enables educational institutions to transform traditional learning and event formats into valuable, immersive digital experiences that higher education students are seeking. Through ARitize University, students can access course materials, learning objectives, and ARitize labs. ARitize Labs With “ARitize Labs” higher education institutions can bring classrooms to life with immersive and engaging augmented learning labs. Using the ARitize Play app, students are welcomed into a virtual learning lab, where they can interact and learn in 3D, mimicking a traditional lab environment.
“Nextech AR Solutions is helping education institutions digitally transform the way educators teach and the way students learn, by enabling remote experiential learning through ARitize University,” said Nancy Teodoro, education partner lead at Microsoft Canada.
“Aritize Events 3D” (formerly known as IgniteX/LiveX) is Nextech AR’s virtual and hybrid events platform. The self-serve platform enables customers to create stunning floor plans, unique exhibitor booths, poster sessions, and more. Virtual audiences can be immersed with get-out-of-your-seat moments created with human holograms, AR portals that transport users to different destinations, and AR products beamed into their personal space.
In a recent press release, the Company announced the launch of a major 3D Metaverse Upgrade to its events platform, making the opportunity for 2022 very exciting. As the pandemic continues and new variants like Omicron have emerged, the company is seeing an uptick in its virtual events business – and is now able to offer significant new features. By successfully integrating its metaverse product offering into their events platform, immersive virtual events are now available as part of its growing suite of metaverse solutions. “ARitize Events 3D ” is now able to showcase 3D products seamlessly with its existing suite of Augmented Reality solutions, creating a first of its kind metaverse event platform. Nextech AR CEO Evan Gappelberg joined the Power Play by the Market Herald to discuss the news – watch the interview here For 2021, Nextech’s IgniteX and LiveX hosted many virtual events generating approximately $4.5million in revenue. With this major platform upgrade, the company is expecting to generate significant revenue growth in 2022 and beyond. To date, Nextech’s events platform has hosted events with notable brands such as, Johnson and Johnson, Amazon, Broad, Harvard, MIT, UNESCO, Restaurants Canada, TedX, Enterprise Florida, Carnegie Mellon, Bell Mobility / Virgin Mobile, Royal College of Physician and Surgeons, and many more.
ARitize Holograms Formerly known as holoX. “Aritize Holograms” is Nextech’s human hologram creator app. No green screen or technical equipment required; anyone can create themselves as a human hologram in minutes using their mobile smartphone.
ARitize CPG Formerly known as Genie AR/Genie in a Bottle. “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 endcap displays. This interactive AR hologram takes smart packaging to a new level with exciting 3D objects, innovative visual effects and engaging episodic content.
ARitize Concerts Formerly known as AiR Show. “ARitize Concerts” is all about human holograms in augmented reality. It is an app that allows users to watch performances from real artists in their own homes. Users can tap on a featured event, or use a VIP code to access exclusive content to see music artists appear right in front of them using AR. Watch musical performances, have virtual meet and greets with celebrities, and more
Nextech AR is Leading Innovation in Augmented Reality Solutions for the Metaverse
With the advent of 5G, wearable devices, and the IoT, the way we interact with technology is changing at a breakneck pace.
The convergence of consumer need and technological capability has created a perfect storm of opportunity for those who can seize the moment.
Nextech AR is an exciting company to watch as the need for AR innovation grows. Global spending on AR/VR is expected to increase by 78% this year alone, with no sign of slowing down.
Nextech AR is using cutting edge technology to deliver superior user experiences across these main verticals (advertising, Events, e-Commerce, EdTech), and supply measurable ROI for their clients.
And that’s not all. The burgeoning Metaverse industry will provide an $800 Billion market opportunity by 2024, according to Bloomberg Intelligence – and Nextech’s total addressable market (TAM) is $250 Billion across its robust tech-stack and product offerings.
Working With the Best
Several multibillion-dollar companies are currently slugging it out in the competitive AR and Metaverse space. So why do we have an eye on Nextech, the small-cap company? Because they are a small cap with an impressive technology stack that compares to Big Tech. And the fact that they posted $20M in revenue in 2020 and being on track to outpace that in 2021 definitely helps. One of the things we like so much is the passion of Evan Gappelberg, CEO of Nextech. He has hands-on experience taking startups to sky-high valuations from nothing and is heavily involved in the operations of Nextech.
Evan recently went on a shopping spree and bought an bought an additional 72,656 shares of (drumroll please) Nextech. This increases his ownership to 10,049,279 common shares. He commented, “I continue to invest and buy more shares because I’m extremely excited about the Metaverse and our business prospects within the Metaverse, and don’t believe that our current share price reflects the upside potential of our businesses. The Metaverse opportunity is new, exciting, and huge to most companies, but we have been working on it for the past few years which gives us what I believe is a head start. We are starting to see business momentum in our 3D and AR product offerings as more and more brands and companies are beginning to recognize this massive opportunity.”
He believes in his company and thinks that it’s being undervalued. His faith is inspiring, and the direction the company is going makes us think he’s right.
The entire Nextech team boasts impressive resumes, and over the last six months, Nextech has been successful in attracting top talent from SAP, Apple, Microsoft Corporation, Disney, IBM, Oracle, Norton LifeLock, Fastly Salesforce.com, and more.
There is massive opportunity for AR in multiple markets due to a convergence of technological innovation and consumer need. A diversified small-cap company like Nextech is primed to leverage their current relationships into huge contracts, while they continue to advance the performance of their AR tech. To learn more, visit Nextech’s Investor Relations website: https://www.nextechar.com/investors/overview
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The details of our compensation and the period of the Campaign is set forth below.
Name of Issuer & Ticker Symbol - NexTech AR Solutions Corp. (NEXCF)
Amount & Form of Compensation - $1,030,000.00 in Common Stock
Who Paid for the Campaign & Position with Company if any - NexTech AR Solutions Corp.
Period of Campaign - March 4th 2021 to February 18th 2022
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Name of Issuer & Ticker Symbol - NexTech AR Solutions Corp. (NEXCF)
Number of Shares We or our Affiliates Hold - 200,000
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