Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF, NEO:NTAR) has announced an update to its Shopify (TSX:SH., NYSE:SHOP) app, initially launched in January 2022, allowing merchants to create 3D/AR (augmented reality) models for their eCommerce sites.
The metaverse company, which develops and operates AR platforms, said the Freemium model offers an enticing incentive to eCommerce businesses. It also plans to integrate the same Freemium pricing with more eCommerce platforms, including BigCommerce, WooCommerce, and Magento. and is targeting the second quarter of 2022 for completion of these integrations.
These integrations will collectively place Nextech's AI-powered 3D/AR model creation solution in front of millions of merchants globally, the company added.
READ: Nextech AR Solutions expands 3D patent portfolio as it files four pivotal non-provisional utility patents
Since the launch of its 3D/AR modeling self-serve app with Shopify (TSX:SH., NYSE:SHOP), Nextech said it has quickly expanded its reach to small and medium-sized eCommerce websites and is currently in the top 2% or in the 98th percentile of apps downloaded in the 3D modeling category (out of 228).
Following the app's launch in late January, the company said there has been an approximately 44% increase in app installs month over month. It attributed the success to its affordable pricing, 3D model-making scalability, and high-quality 3D models. With a frictionless implementation and being the only end-to-end eCommerce app for 3D/AR, the company said it believes that it has a competitive advantage in the 3D model market.
The company said CEO Evan Gappelberg will present today, April 12, at 12:30pm ET at the "NEXT SUPER STOCK Live!" event hosted by the Wall Street Reporter. Individual and institutional investors, as well as advisors and analysts, can attend Gappelberg's live stream presentation by following this link: https://www.youtube.com/watch?v=TA86qJPr-FU
Contact the author at stephen.gunnion@proactiveinvestors.com