NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (CSE:NTAR) (FRA:N29) has joined the Interactive Advertising Bureau (IAB) AR board, a trade association with more than 650 member media companies, brands and technology firms responsible for selling, delivering and optimizing digital ad marketing campaigns, the company announced.
As an IAB AR board member, NexTech will work along with industry peers to establish standards for AR creative formats, performance benchmarking measurement standards and privacy considerations.
Through the work of its public policy office in Washington DC, IAB advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. The AR board’s mission is to inspire brands to discover new immersive ways to reach audiences and unlock the value of AR through defining best practices and standards, the company said.
READ: NexTech AR launches 3D augmented reality ad network to usher in a new generation of ads
NexTech believes augmented reality (AR) advertising is at an inflection point, with several retailers and ecommerce companies expected to prioritize investments in the sector. The company already has AR technology in the marketplace and has established measurements to measure engagement data and conversion data to deliver ROI on AR ads to its customers.
Zoe Soon, Vice President, Experience Center at IAB, said: “Accelerated by our new socially distanced reality and buoyed by the rollout of 5G networks, AR is set to become the next frontier of advertising,”
IAB Experience Center VP Zoe Soon said in a statement. “I’m excited to welcome NexTech AR Solutions to the IAB AR Board, where our mission is to help brands connect with consumers in more immersive ways. NexTech AR Solutions is a great addition to our group of industry leaders because with their ecommerce and virtual events solutions they are helping brands reimagine ways to solve consumer problems and provide utility.”
NexTech’s advertising network team has been laser-focused on building a powerful, in-house advertising network for advertisers, brands and sponsors, the company said, and it has already begun to generate significant ROI for the company, its advertising customers and shareholders. NexTech’s 3D/AR Ad Network enables it to gather first- party data of online and offline purchase data, demonstrating the full impact of these advertising programs.
“Joining the IAB’s AR Board is another indication of NexTech AR’s investment in becoming the leader in the emerging AR/3D ad industry,” NexTech Advertising Network President Hareesh Achi said. “As members, we will be able to participate in a variety of industry-facing committees which are responsible for creating industry standards and best practices, in addition to providing NexTech with an opportunity to showcase our own technology and insights.”
He continued, “The growth in online ecommerce has created opportunities for brands and products to differentiate through immersive digital experiences and foundationally transform how they reach their target audience through online advertising. NexTech’s AR technology, virtual events platform and AR ads are going to enable the industry for this advertising digital transformation in not only reaching the audiences but also enabling that product or brand interaction with its audiences.”
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