The Company recently announced it has landed a major enterprise 3D model deal with an S&P 500 Company Top 10 Retailer. As mentioned in a previous release, in addition to being a preferred supplier to Amazon and signing large enterprise deals, Nextech3D.ai continues to see record demand for 3D models and anticipates Q1 2023 will exceed sales numbers from Q4 2022. This positions Nextech3D.ai as the leader for 3D modeling in the global $5.5 trillion eCommerce ecosystem.
Generative AI & Patents
A major contributor to Nextech3D.ai's 3D modeling success and ability to meet market demand is its Generative Artificial Intelligence (AI). Last week, the Company filed a provisional patent titled: "Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning." This patent builds on the previous patent filed in November 2022: "Generating Three-Dimensional Models by Part" for creating complex 3D models by parts. The groundbreaking AI technology underpinning these patents places the Company in a leadership position in the 3D modeling for ecommerce industry and sets the stage for the Company to become cash flow positive.
Nextech3D.ai has built a substantial library of 3D models to date, and most of the 3D models created are composed of several individual parts. For example, a chair is composed of legs, a seat back and cushions. Every time a new 3D model is created, the parts are harvested into Nextech3D.ai's AI powered 3D part-library. Nextech3D.ai is in the process of significantly expanding this large library and its utility, which is expected to eventually hold millions of individual, unique parts. This massive parts library enables Nextech3D.ai to create new 3D models by searching, assembling and using this part library, allowing for a significantly increased speed of 3D model creation. Instead of starting from scratch, these parts are retrieved and assembled first, reducing 3D model creation time. The more models the Company makes, the larger that part library gets, and the easier it gets to make new 3D models.
In February, Nextech3D.ai announced a major generative artificial intelligence (AI) breakthrough in 3D model texture creation. The breakthrough enables the Company to recreate high-quality 4K textures at scale from just small digital swatches in just seconds versus hours of manual labor, representing a 720x increase in production speed. This breakthrough in texture expansion technology will revolutionize the 3D modeling industry, and gives Nextech3D.ai a major competitive edge further solidifying its leadership position in the global 3D model space for ecommerce. With this technology, Nextech3D.ai is revolutionizing the 3D modeling industry and making it possible to create photo-realistic 3D models as digital replicas of real-world products at scale for large enterprise customers.
The Company is continuously developing its Generative AI technology and plans to file an additional patent shortly.
3D Modeling Deals
Nextech3D.ai has recently signed both new and renewal contracts for 3D models for a variety of industries:
Furniture / Home Goods
One of South Korea's largest furniture retailers has 1000s of vendors, this contract has the potential to expand to 10,000+ 3 D models in 2023.
Bunnings (owned by Wesfarmers), which has 381 locations, and is the largest retailer of home improvement supplies in Australia and New Zealand, has added additional 3D models to their existing contract, showing further evidence that existing customers are continually expanding their contracts
Dyson, a premier supplier of high-end home products and accessories, has contracted for 3D models of some of their most popular products.
Globus, a high-end retailer in Germany, has signed on for a large number of 3D models for the company's home goods & accessories products.
Surplus Furniture & Mattress, a premium home furniture retailer, signed on for more 3D models of their furniture products. This is the second contract signed with Nextech3D.ai.
William Wood Mirrors, an eCommerce retailer of specialty mirrors, originally signed on for complex 3D models in mid-2022 and has been increasing its model orders steadily. This latest deal represents the 8th signed contract for additional 3D model SKUs.
City Furniture Canada, a provider of a variety of furniture and appliances, has contracted with Nextech3D.ai to showcase their most popular products as 3D models.
The Timber Line, an exclusive collection of locally made, handcrafted timber items for the household has signed on for additional 3D models of their most popular SKUs, enabling customers to see what the product will look like in their homes before purchasing, leading to more satisfied customers and less chance of product return.
Sports Equipment
Life Fitness, a fitness equipment provider and industry leader in the Canadian Fitness Industry has contracted with Nextech3D.ai for 3D models of their fitness equipment.
Specialty
Solutions BKC Canada Inc.- Black Circles, an online tire retailer, has signed on for a 3D model tire. Nextech3D.ai currently works with other auto parts retailers such as Napa, and this represents another signing in to the automotive industry.
TCM Enterprises LLC - O2VAPE, a provider of vape pens has signed on for more 3D models of their popular products.
Nextech3D.ai is experiencing a surge in demand for 3D models in 2023 and expects this to continue into 2024 as it signs multi-year contracts.
Recent News
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About Nextech3D.ai
(formerly "Nextech3D.ai AR Solutions Corp" or the "Company") (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime eCommerce Marketplace as well as many other online retailers. The Company develops or acquires what it believes are disruptive technologies and, once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
On October 26, 2022 Nextech3D.ai AR spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech3D.ai AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in the USA on the (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE:E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
On December 14, 2022 Nextech3D.ai AR announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.
To learn more about ARway, visit https://www.arway.ai/
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech3D.ai will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
For further information, please contact:
Investor Relations Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
SOURCE: Nextech3D.ai
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