Company is testing new spatial mapping technology
TORONTO — (BUSINESS WIRE) — June 9, 2022 — Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and services is pleased to announce the launch of a new major upgrade to the platform. The upgrade includes attendee ticket sales and registration options available to clients using the Map D platform. The Company is also testing a new breakthrough in scaling the creation of spatial maps for events, and especially augmented reality (AR) wayfinding by using Map D technology for its ARitize Maps product.
“Map D has been able to sell millions of dollars in exhibitor booth space and register attendees for thousands of events for many years,” said Jeremy Minnick, Lead Developer for Map D. “This major platform upgrade for the first time allows us to provide a complete event management solution including tools that event managers can use to capture every opportunity for revenue and truly manage all aspects of an event within a single platform.”
Watch a video preview of the Map D Platform - click here.
A most recent example of Map D’s technology was the groundbreaking 365 Marketplace with Restaurants Canada, unveiled at the RC Show 2022 - Canada’s leading foodservice and hospitality event, which took place May 9-11, 2022. Watch a video preview of the 365 Marketplace - click here.
This new upgrade to the event platform creates a hybrid blend of virtual event space and international marketplace, with up to 5,000 virtual vendor profiles serving 30,000+ members. 365 Marketplace aims to be a thriving centre for ecommerce, using ARitize 3D technology to showcase products in their truest form, allowing members to interact at a higher level. The Company sees this opportunity as being the Shopify of the foodservice industry with 3D/AR by providing the platform and the tools for the foodservice industry to build its online presence. Additionally, with the ability to add ticketing revenue, it is anticipated that this marketplace and marketplaces such as this created by Nextech, will become very profitable. As noted by Report Linker in March 2022, The Online Event Ticketing Market was valued at USD 28.49 billion in 2021, and it is expected to reach USD 94.92 billion by 2027, registering a CAGR of 7.52% during the period of 2022-2027.
“Map D has seen great returns from existing clients in the association space, but also strong growth from new clients and industries with the resurgence of in-person events post covid,” said Evan Gappelberg, CEO of Nextech AR. “The addition of attendee ticket sales to the Map D platform is not only a great development for our clients but will also translate to shareholder value as transaction fees present a new and virtually unlimited source of revenue that Map D has never experienced before. Nextech is also seeing positive early results in its ability for Map D to provide accurate trade show floor maps to ARitize Maps - leveraging two of our technologies to create something new. This is potentially very valuable as it will allow us to produce spatial maps at scale… which I haven’t seen anywhere else.”
"Ticket sales are a game changer for Map D," said Lane Gibbs, Map D Director of Sales and Operations. “Not only will ticket sales make a lot of our existing clients happy, Map D can also now serve as a single solution for exhibitor, sponsor, and attendee sales in a way that I think will make a lot of new clients happy, too. This should open the door for us to serve even more industries.”
About Map D
Map D has become one of the most popular self-serve event management tools as the easiest way to sell your floor space and secure sponsors, deliver a robust companion mobile app for in-person attendees or host entirely in a self-contained virtual venue. Make booth sales a breeze and cross complicated event logistics off your to-do list with Map D. All the event planning features you need to manage and execute any kind of event in the easiest solution available.
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.
Nextech funds the development of its AR and Metaverse growth initiatives through its e-Commerce platforms, which currently generate most of its revenue. Nextech's e-commerce platforms include: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology.
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. Nextech 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:
866-ARITIZE (274-8493) Ext 7201