Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF) announced it has released major upgrades and features to its SaaS ARitize Decorator product that can be seamlessly integrated onto any e-commerce website as a software extension to its ARitize 3D platform.
The Decorator works with ARitize 3D, which uses artificial intelligence (AI) technology to create high-quality 3D models at scale, to turn those models into experiences by contextualizing their importance in the e-commerce journey, said the metaverse company.
The technology powering the ARitize Decorator is a perfect use case for the increasingly popular virtual interior design and e-design industries, it added.
READ: Nextech AR launches AI-powered SaaS software platform Toggle3D for fast-growing CAD-3D model market
Trends in interior design are continuing to change drastically with technological breakthroughs, Nextech said, noting that the constant integration of new technologies such as AI, virtual reality (VR), and augmented reality (AR) will continue to grow the interior design software market in the coming years.
According to research from The Insight Partners, the size of the interior design software market is projected to reach $6.87 billion by 2028 from $3.33 billion in 2020, and is expected to grow at a compounded annual growth rate (CAGR) of 9.8% from 2021 to 2028, the company noted.
Technological innovations behind products like ARitize Decorator increase working efficiency, save time, and allow designers or enterprise companies to connect and collaborate with customers digitally, it added.
The Decorator’s new features include:
- Magic Eraser: For the first time ever, shoppers will now be able to remove any item in their room photo with a “magic eraser” tool to then replace it with a new product. This works just like Google’s magic eraser for the Pixel phone.
- Colour Changer: The consumer will be able to change flooring layouts, add ceiling items, and even alter the wall colour. Nextech AR believes all these personalization tools combined will provide consumers with a shopping experience that has never been seen in the market before.
- 3D Model Overlap: Shoppers can now overlap multiple 3D product models when using the ARitize Decorator to design an interior, including placing rugs under furniture.
- New UX/UI: Along with the new features, the product has received a major design enhancement, with updates to the User Experience and User Interface. ARitize Decorator allows customers to place 3D versions of products into uploaded photos of their own space.
Stock compensation
Nextech also revealed that its CEO Evan Gappelberg has taken restricted shares in lieu of cash for services rendered by Atlas Advisors LLC in the amount of C$264,962.91 for 339,696 common shares.
The deemed price per share is C$0.78 and the shares are subject to a four-month hold period. The transaction is a “related party transaction”, and the company will be filing a material change report in that respect on SEDAR.
Contact the author at jon.hopkins@proactiveinvestors.com