Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF, NEO:NTAR) has announced the closing of a large enterprise ARitize 3D deal with a multinational e-commerce brand.
The company said the deal provides it with a growing base of MRR (Monthly Recurring Revenue) and showcases the accelerating demand of Nextech's state-of-the-art ARitize 3D factory.
It is contracted to produce 2,500 3D models to be distributed through the client’s online subsidiaries globally.
Nextech noted that the new contract is foundational for the company as it not only shows validation of its 3D modeling at scale, but also validates the very strong and growing demand for 3D models and AR visualizations in e-commerce globally.
READ: Nextech AR Solutions announces signing of multiple AR eCommerce deals across a variety of industries
ARitize 3D has been gaining substantial traction, as more and more e-commerce businesses recognize that the future of online commerce rests in product visualizations through augmented reality and 3D models.
The company said it ARitize 3D solution is already supplying many notable retailers with 3D models and AR product visualizations, including Kohl’s, Lighting Plus New Zealand, Pier 1, Kmart Australia, Ezooza, NorthByNorth, The Office Group, Just Recliners, Never Summer, Mitra10, Cle Privee, Seville Classics, Bizrklan Eyewear, Poly & Bark, and Skate One.
Nextech said the deal sets the stage for a big year in 3D model making and allows the company to highlight its ever-growing, market-leading suite of ARitize 3D solutions including its product hotspots, animations, 360-plus exploded views, 3D swirl ads, configurator, 3D carousel, virtual staging and room decorator.
Beta launch in 2022
To rapidly grow its accounts in 2022, the company is preparing to come out of its beta launch of ARitize 3D SaaS Offering For Ecommerce -- opening up the technology to anyone with an e-commerce site, allowing them to offer webAR and 3D shopping experiences on their website.
Whether the customers want to create five models or 5,000 models, they just have to sign up, enter a credit card payment method, and enable webAR for their website. The company believes that it is first to market with this SaaS 3D WebAR solution for e-commerce.
The company's ARitize 3D technology allows for large enterprise, medium, and small e-commerce businesses to scale their 3D model production using Nextech’s AI-driven technology in a cost-effective way.
Nextech said it believes that with the combination of ARitize 3D and Nextech’s ARitize CAD, which enables manufacturers to convert CAD files into 3D AR models at scale, the company has a major competitive edge in the 3D modeling market.
“This enterprise 3D modeling contract for an initial 2,500 models is a huge win for Nextech, and clearly highlights the future trajectory of our technology," said Nextech CEO Evan Gappleberg in a statement. “By being able to provide scalable 3D/AR ecommerce solutions for the world’s largest multinational companies at what we believe is the lowest cost and highest quality, the most scalable solution really does change the game for our company.”
Gappleberg added: “I believe that this is just the beginning as we have many more enterprise deals in our pipeline which we expect to close in Q1. Beyond enterprise we are seeing strong demand all through the ecommerce space. I believe that 2022 is the year that 3D models move from a 'nice to have' to 'must have' in ecommerce and we have the 3D model factory that can scale, turning our platform into a 'must have' solution for ecommerce.”
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