Nextech AR Solutions Corp. (CSE:NTAR, OTCQX:NEXCF) said it has been chosen as a supplier for a top 10 eCommerce retailer in the US, continuing the company’s rapid expansion and growth.
The contract is for a significant number of 3D models to be delivered in 2023 and will help propel the company towards becoming the top 3D model supplier to the global $5.5 trillion dollar eCommerce ecosystem.
“Today's new contract is for the delivery of over 10,000+ 3D models in 2023, with significant expansion possible in Q3/Q4 of 2023. We are seeing more and more enterprise contracts, meaning 10,000+ 3D models or more, enter our production pipeline in 2023,” Nextech AR CEO Evan Gappelberg said in a statement.
READ: Nextech AR Solutions says determined to pursue direct spinout of its generative AI-powered Toggle3D platform
“We expect to announce additional enterprise contracts from major retailers in Q1, 2023. This is happening because a rapidly rising number of companies within the eCommerce ecosystem are recognizing the game-changing ROI and customer satisfaction experienced by implementing 3D/AR models on their eCommerce websites.
“Over the past few years we have been heavily investing in artificial intelligence (AI), which is now paying dividends. Our proprietary breakthrough AI perfectly positions us to take full advantage of the multibillion-dollar decade-long 3D model mega-trend,” he added.
Nextech AR’s proprietary generative AI is a game-changing technology that solves the multi-billion dollar 3D model supply problem for the eCommerce market.
Nextech AR is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the prime eCommerce marketplace as well as many other online retailers.
The company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
Contact the author at jon.hopkins@proactiveinvestors.com