ARway.ai (CSE:ARWY, OTCQB:ARWYF) has announced a groundbreaking partnership with Map D, an event technology company wholly owned by its former parent, Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF).
The strategic collaboration aims to revolutionize the lucrative trade show industry, valued at $50 billion, through the introduction of ARway's cutting-edge indoor navigation system.
ARway's spatial computing navigation platform utilizes advanced AR technology and computer vision algorithms to overlay digital information onto the real world, enhancing navigation capabilities in various environments. Users can wear AR-enabled devices like smart glasses or use mobile devices to receive real-time, context-aware navigation instructions overlaid onto their surroundings.
The company's breakthrough technology employs visual marker tracking with centimeter precision, offering a seamless and immersive AR experience. This innovation has the potential to transform how trade shows are navigated and experienced, providing unparalleled engagement and value for participants.
In a statement, Michael Candela, SVP Strategic Markets at Map D, expressed excitement about the partnership, commenting: "The fusion of Map D's robust interactive mapping technology with ARway's innovative augmented reality capabilities is not just an upgrade; it’s a leap forward that promises to revolutionize navigation and advertising experiences at events!"
Under the terms of the license agreement, ARway will receive monthly payments totaling $41,666 for 12 months, guaranteeing a minimum of $500,000. Additionally, if sales exceed $500,000 within any 12-month period, ARway will be entitled to a 10% royalty.
The partnership ensures comprehensive customer support and technical assistance from ARway throughout the term, facilitating a seamless integration for all stakeholders. The collaboration between ARway and Map D is expected to reshape the landscape of trade shows, placing both companies at the forefront of the evolving event technology industry.
ARway's disruptive no-code, no-beacon spatial computing solution empowers businesses and developers to create immersive and interactive AR experiences. The combination of cutting-edge technology and seamless integration sets the stage for a new era in the trade show industry, where augmented reality navigation becomes an integral part of the event experience.
Contact the author at jon.hopkins@proactiveinvestors.com