Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced that it has received a purchase order valued in the mid-six figures from a blue chip enterprise customer for more than 1,000 3D AI models and more than 4,000 3D AI digital photos, sending the stock 10% higher.
The order was received in May with delivery set to begin in June, the 3D model provider said.
“These large contracts are critical revenue and cash flow drivers for the company,” CEO Evan Gappelberg said.
He highlighted that this enterprise customer has recognized the significant return on investment from the use of 3D models in eCommerce and is accelerating its purchase of 3D models.
“Shopify has reported up to a 93% increase in clickthrough rate (CTR), a 250% increase in conversions, and a 40% reduction in returns by implementing 3D/AR models on their eCommerce websites,” he pointed out.
“Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) is currently working directly with Amazon, the largest e-commerce marketplace, and some of the world's largest e-commerce retailers including Kohl's. We also offer ‘one-click integration’ with the largest eCommerce platforms including Shopify, BigCommerce, and WooCommerce, which have rolled out 3D/AR and set the standard for Web 3.0 in e-commerce.”
Gappelberg also noted that Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) was seeing companies of all sizes interested not just in its 3D AI models but also in the 3D AI digital renders that it sells alongside its 3D AI models.
“With our end-to-end integrated solutions, white-glove service, ability to scale production, and large enterprise customers, Nextech3D.ai is emerging as a 3D AI e-commerce leader,” he said.
Shares of Nextech3D.ai traded up 10.3% at $0.10 at noon on Wednesday.
- Updated with share price movement -