TORONTO, Canada, June 21, 2022 – Nextech AR Solutions Corp., a Metaverse company and leading provider of augmented reality (AR) experience technologies and services, is pleased to announce the closing of multiple new 3D modeling deals for ecommerce, providing the company with a continually growing base of ARR (annual recurring revenue) and MRR (monthly recurring revenue). AR and 3D models have been proven to increase sales, decrease product returns, and improve advertising results, leading to potentially billions of dollars in value, and bottom line impact for the company’s global brand clients which include Kohl’s, CB2, Crate and Barrel, NAPA Auto Parts and many others.
Nextech AR CEO Evan Gappelberg commented, “We are continuing to see strong growth in our ARitize 3D offering throughout Q2 and expect an acceleration in Q3 and Q4. Our continued growth, accelerating transformation and penetration into the trillion dollar ecommerce industry is evident by our expansion into new product categories, and by our ability to consistently sign new 12-month+ 3D modeling contracts while simultaneously renewing contracts with existing clients who are requesting even more 3D models.” He continues, “More and more companies and brands within the ecommerce ecosystem are recognizing the obvious benefits and ROI of our ARitize 3D product offering. We firmly believe that the transition from flat 2D photos to 3D models is now in full swing and that 3D models are currently being established as the standard in e-commerce throughout the globe. The June 9th, 2022 blockbuster news that Amazon (who has 350 million products) is now offering a shoe ‘try on’ in AR supports our view as ‘All the brands announced including New Balance, adidas, Reebok, Puma, Superga, Lacoste, Asics, and Saucony shoes will need to be converted into a 3D models to be used in Amazon’s ‘try on’ which is creating more and more demand for our ARitize 3D services.’
“Companies who don’t adopt a 3D/AR ecommerce strategy will be left behind as 3D/AR produces immersive shopping experiences that customers expect, and results in 93% higher conversions and up to 40% reduced returns for merchants (shopify). Through 2022 we will continue to push for new customer wins and contract renewals, multiplying our ARR and MRR month over month.”
Winning new contracts, combined with renewals and expansion of existing contracts, is driving the rapid growth for the company’s 3D model and augmented reality business in ecommerce.
Examples of some new customer wins:
- Mechatronic Solutions
Stäubli, global mechatronics solution provider in four dedicated Divisions: Electrical Connectors, Fluid Connectors, Robotics and Textile, has signed on Nextech’s ARitize CAD, the CAD to POLY solution for their manufactured products, as well as a QR code generated Hologram. This latest adoption of CAD to POLY technology signals the manufacturing industry’s increasing adoption of 3D assets to help make their businesses profitable.
- Complex Home Goods
William Wood Design, a UK based mirror manufacturer, has contracted with Nextech to create high quality complex 3D models of their mirror SKUs. Mirrors are a highly complex product to convert into a 3D model, and with this contract Nextech continues to show that it has the capacity to handle complex models of a wide variety of products.
- Sports Equipment
Nextech has signed a new 3D modeling deal with Kindred Custom Snowboards for 3D models of the company’s “rideable art” snowboards. This follows multiple sports related ARitize 3D deals, including MGI Golf, Marker Deutschland, Head, Himibike, Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for Sports, Joyride Bikes and others.
- Unique Art
Art Millwork Design, an American wood wall art and wood decor manufacturer, has signed on for a variety of high quality 3D models showcasing their unique products. Nextech’s ability to provide high quality and high resolution models enables them to trust that the finished product will accurately reflect what customers are buying to put into their homes.
- Point of Sale Solutions
Decor Metal, a Germany company providing tailored metal presentation concepts from display stands to shop fittings, has signed on for a variety of 3D models. Seeing products in 3D allows their customers to get a sense of what the product will look like in store, which adds to consumer confidence and helps increase sales.
Orange Energizing Solutions, an energy efficient solutions company, has signed on for a 3D AR logo, highlighting that companies are beginning to use 3D solutions in a variety of areas.
- Partner Agencies
Nextech expanded its reach and now partners with marketing and other agencies to provide models for 3rd party clients. The latest signings in this area are for niche geode products, as well as an increase to the initial order for Smirnoff Ice products. These signings highlight that more and more retailers are asking for 3D models in the ecommerce space, and their marketing agencies are reaching out to Nextech for solutions for their clients.
The company continues with expanding its reach through partner advertising agencies and through integrations with Shopify, Big commerce, and soon to be WooCommerce.
- Shopify Customers
Nextech’s Shopify integration and app continues to pay dividends with signing of multiple deals including Habitt Furniture for a bed; Mobius for a large planter; Tory Burch for a handbag; Shawpz for a mirrored cabinet; Birthstone Plus for rings; Budology for a cannabis shirt and National Bookstore for bean bags, amongst others. Shopify customers are adopting Nextech’s 3D modeling technology, and looking to the Company to propel their products into the augmented reality space. Nextech is preparing to launch a number of new apps for Shopify and WooCommerce. Announcements will be made in the upcoming weeks.
ARitize 3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Their artificial intelligence (AI) will turn your existing 2D product images into high-quality 3D and augmented reality experiences. It’s fast, it’s easy and it will transform your ecommerce website.
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% lower product returns, 93% higher click through rate and a 90% reduction in product photography costs. The Company believes that this value creation and ROI is leading to the rapidly growing demand for the Company’s 3D technology. Transform your online store into a dynamic virtual showroom. 3D models allow customers to see products from every angle and position them in their own space prior to purchasing. It’s an exciting, immersive shopping experience that keeps customers more engaged, better informed and helps your brand stand out from the competition.
ARitize 3D is the One-Stop-Shop 3D + AR solution for ecommerce that is:
- Affordable – lowest cost provider
- Scalable – fastest, seamless, high quality
- Frictionless – requires low implementation effort
- AI & ML powered – automated 3D model creation
- End to End – from model creation to CMS & AR visualization
The company has granted to Evan Gappelberg, CEO of Nextech as part of a 5 year employment agreement 996,346 stock options per tranche, which he will receive in the future and only upon reaching market capitalization milestones that start at $100 million extending to a $1 billion dollar market capitalization. Only upon achieving these milestones will he then have the right to purchase up to an aggregate of 11,956,152 common shares of the company (the “Options”). The Options shall bear an exercise price of Cdn $0.55 per share, expire on June 20, 2027, and vest in twelve (12) equal tranches of 996,346 stock options per tranche, with such vesting contingent upon (i) Evan Gappelberg serving as chief executive officer or chairman of the company at the applicable time of vesting; (ii) the company securing all necessary shareholder and regulatory approvals to provide for sufficient availability under its Option Plan for the issuance of the common shares upon exercise of the respective Options, and/or shareholder approval of any Options which exceed the number of common shares otherwise available for issuance under such Option Plan; and (iii) the company achieving certain market capitalization milestones.
The company has also granted 3,601,000 stock options to directors, officers, employees and consultants for the right to purchase up to an aggregate of 3,601,000 common shares of the company. The Options vest over three years, at a price of Cdn $0.55 per share, being the closing price of the last trading day prior to the date of grant. All Options were granted in accordance with the company’s stock option plan.
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. Their 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.
Historically Nextech has funded the development of its AR and Metaverse growth initiatives through its e-Commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (VCM), infinitepetlife.com (IPL) and Trulyfesupplements.com (TruLyfe). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech’s leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology. However with the growth the company is seeing in it’s AR and metaverse solutions it’s currently in the process of winding down its ecommerce businesses.
To learn more, please follow visit www.Nextechar.com.
ESPOO, Finland and SHANGHAI, China, June 6, 2022 – Dispelix (Espoo) – a pioneer in the design and manufacturing of next-generation diffractive waveguides – announced it has been in a long-term partnership with respected AR light engine supplier Jade Bird Displays (JBD) to develop a family of new reference designs for augmented reality (AR) glasses and headsets across multiple price points.
Developed through an intensive collaboration, the new designs combine JBD’s family of cutting-edge MicroLED projectors with the Dispelix LED – an industry-leading pantoscopic waveguide with an advanced nanotech coating. JBD & Dispelix have brought together their respective expertise in MicroLED displays, light engines and diffractive waveguide combiners – including at least one bleeding-edge model combining binocular waveguides and polychrome MicroLED projectors.
The MicroLED engine used in the flagship reference design is JBD’s AmµLED MicroLED projectors for smart eyewear, both monochrome and other polychrome projector development kits are also available. These are all designed to aid OEMs and partners in their rapid development, evaluation and prototyping of branded smart eyewear (as well as other augmented reality (AR) products & solutions).
The monochrome projector is only 0.35cc in volume, has a FOV of 30°, weighs nominally 0.60 grams and is available in red, green and blue. It can be used for monochrome smart eyeglasses development or it can be used in RGB waveguides with multiple input couplers for polychrome applications.
The polychrome projector is only 1.3cc in volume, has a FOV of 30° & weighs nominally 2.3 grams. In the polychrome module projector, an x-cube prism is used to combine images from three individual monochrome panels attached to the faces of the X-cube prism. Both the monochrome and polychrome projectors are focused at infinity.
“JBD has launched a number of innovative MicroLED display and projector solutions that are designed into end products such as smart glasses, holographic sights and Sports AR goggles,” said Dr. Qiming Li, CEO & founder of JBD. “We are currently expanding our production facilities to support the unprecedented demand for our MicroLED displays and projectors. Our success has only been made possible with the launch of concurrent innovative solutions by our partners and a stellar example is the Dispelix LED waveguide. Our polychrome projector combined with the LED waveguide will enable OEMs to rapidly turn around small form factor and aesthetically-pleasing AR wearables that are suitable for all day use.”
Leon Baruah, director sales & marketing at JBD further added “As a MicroLED display and light engine manufacturer we have always valued the significance of our Waveguide partners as their inventions complete our offering and are critical to the success of the AR industry. Dispelix’s LED waveguide is a truly innovative solution and at first light with our AmµLED polychrome MicroLED projector we knew we had a compelling solution. Dispelix LED is a versatile platform allowing a number of possibilities in terms of possible FOVs and waveguide profiles but what strikes out most is the amazing image quality that can be observed through the waveguide with our polychrome projector.”
“Dispelix is very excited to finally unveil our partnership with JBD – the end result of joint R&D activities that are enabling the next-generation of AR eyewear,” said Jussi Rahomaki, chief product officer for Dispelix. “Working with a manufacturer of JBD’s reputation for light engine innovation means that a wide range of ODM/OEM manufacturers can at last enter the burgeoning AR eyewear market with an extraordinary and differentiated set of different reference designs. Dispelix LED combined with AmµLED means that ideal visual fidelity is both achieved and consistently maintained for an exceptional, undistorted and incredibly lightweight reference design.”
Dispelix is an advanced waveguide designer and manufacturer, delivering next-generation visual solutions for both consumer as well as enterprise AR and MR wearables. The company’s patented DPX waveguides bring unmatched image quality, performance and visual fidelity combined with mass manufacturability to scale for even the largest vendors. Led by the world’s most sought-after experts in optics, photonics and manufacturing, Dispelix is headquartered in the technology hub of Espoo, Finland with field offices throughout the United States, China and Taiwan.
Learn more at dispelix.com.
About Jade Bird Display
Founded in 2015, JBD has been focusing on developing the smallest, brightest, and most efficient micro-display panels. With a fab established in Shanghai CHINA, JBD is considered as one of the leaders in microLED display technologies with its portfolio of active matrix microLED displays.
For more information, visit JBD’s website.
SANTA CLARA, CA, June 2, 2022 – Augmented World Expo (AWE), the leading series of worldwide events focused exclusively on the business of augmented reality (AR), virtual reality (VR) and extended reality (XR), announced it is launching an ‘XPrize’-style’ challenge to try and solve the effects of the greatest threat facing mankind in the 21st century – climate change.
This new, year-long innovation challenge will enable any team in the world to vie for a $100,000 USD cash prize – no strings attached. No strictures or limitations are placed upon the winning entry, and all Intellectual Property (IP) remains in the sole ownership of the winning team.
The winning team will be announced at AWE USA 2023, at the same time next year during the Auggie Awards – to propose a partnership, learn more about the challenge and to sign up, visit this URL awexr.com/global/XRprize.
“The last two decades have demonstrated all-too-conclusively how climate change is in the process of dramatically reshaping everything from global terrain to water shortages and threatening humanity,” said Ori Inbar, co-founder of AWE. “We believe in the power of AR and VR to simulate and visualize the invisible, which can help change people’s behavior and simultaneously have a positive impact on climate change. It is incumbent upon every man, woman and other of conscience to strive to solve this potentially apocalyptic scenario – and there are no better tools than VR and AR to accomplish this! Since 2010, the AWE community of 50,000 AR and VR professionals has been inspiring a movement to advance AR and VR to advance humanity. I am looking forward to seeing firsthand how this contest will galvanize the XR community towards presenting truly innovative solutions!”
As the most trusted brand in XR since its inception in 2010, more than 5,000 companies and 50,000 professionals rely on AWE as their primary venue and community to connect, learn and grow their businesses throughout the XR hardware and software ecosystems.
AWE is a true XR ecosystem, event and marketplace where end-users meet solution providers in a curated setting. As such, AWE offers:
- An endless stream of online webinars and local meetupsin 20+ cities around the world;
- High-quality educational classes and workshopswith the best instructors from the XR community – for the XR community;
- Free access the largest collection of free videos of talks and webinarsin Augmented Reality and Virtual Reality;
- The XR industry’s most prestigious and long-standing awards competition (still open for voting!) – The Auggie Awards.
About Augmented World Expo
AWE (Augmented World Expo) is the world’s leading AR+VR conference and expo with events in the USA, Asia, the Middle East, and Europe. AWE events consistently bring together a mix of CEOs, CTOs, designers, developers, creative agencies, futurists, analysts, investors and top press in a unique opportunity to learn, inspire, partner and experience first-hand one of the most exciting industries of their times.