Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF) announced that it has signed numerous new 3D modeling deals throughout the month of July and early August 2022.
The provider of augmented reality (AR) solutions said it has signed 26 new contracts, with seven new contracts since July 1 with major brands, and 19 additional deals as ‘ tests’, which are in addition to the previously-announced deals in 2022.
“Our ARitize 3D offering is being widely accepted by both enterprise customers as well as Shopify merchants and Amazon which has led to strong foundational growth of our business in 3D models for ecommerce in the first half of 2022,” Nextech AR Solutions CEO Evan Gappelberg said in a statement.
READ: Nextech AR launches major upgrade to Shopify app ARitize 3D
“Now that we have laid the foundation we are seeing strong re-orders and are expecting an acceleration of new customer contracts,” Gappelberg added.
Nextech also noted that it is seeing a rapidly growing demand for 3D.
It added that the ‘test’ contracts represent entry contracts with a limited number of stock-keeping units (SKUs) so brands and businesses can test Nextech AR’s proprietary AI-powered 3D/AR eCommerce solutions.
When the ‘tests’ are successful, 90% turn into larger deals, which result in longer contract durations and increased revenue for the company, Nextech said.
As well, the company reported that in the first half of 2022, it saw strong demand from ecommerce merchants both large and small to ‘test’ 3D modeling deals, further continuing its rapid expansion and growth into Web 3.0 and creation of digital twins for eCommerce.
With a full suite of end-to-end AR solutions in 3D commerce, education, events, and industrial manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all metaverse contributors.
Contact Sean at sean@proactiveinvestors.com