Oct. 27, 2022
TORONTO, O.N, Canada – OCTOBER 27, 2022 - Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), Metaverse Company and leading provider of augmented reality (“AR”) experience technologies, wayfinding technologies and 3D model services is pleased to announce that the spin-out of ARway Corp., a no-code spatial computing platform for real-world metaverse is now complete.
ARway began trading on the Canadian Securities Exchange (CSE) on Wednesday October 26, 2022 using the ticker symbol: ARWY. Nextech AR believes ARway is the first pure-play spatial computing public Company.
View ARway CSE listing - click here Nextech AR has retained an ownership stake of 13 million shares of ARway, and is distributing 4 million additional shares as a stock dividend to Nextech shareholders on a pro-rata basis, which are now expected to settle in brokerage accounts on Friday October 28, 2022.
No BLE Beacons. Create precise and robust navigation without any on-site hardware installation and ongoing maintenance.
ARway is disrupting the augmented reality wayfinding market with a no-code, no hardware no BLE beacon, spatial computing platform enabled by visual marker tracking. ARway can create precise and robust navigation without any on-site hardware installation and ongoing maintenance which represents a significant TAM opportunity for ARway, as the global indoor positioning and indoor navigation market is projected to reach $44 Billion by 2025, growing at a CAGR of 42.0% from 2018 to 2025, according to Allied Market Research.
While ARway is focusing revenue generation towards AR wayfinding, it is finding applications of its robust AR engine in additional markets that are opening up entirely new revenue opportunities. Announced earlier this week, ARway’s technology is now being used as part of the XR engine powering the music app: Encore. This application of the ARway platform opens up a substantial new market; providing AR spatial activations for the music industry.
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About ARway ARway is disrupting the Augmented Reality Wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking. Visitors can access a venue map by scanning a visual marker (e.g., QR code) with their smartphone and navigate to any Point of Interest (POI) by following an augmented path and step-by-step directions, while interacting with rich AR content and experiences. ARway only requires end-users to scan a QR code with their smartphone to activate.
The ARway Platform Includes:
Web Creator Platform The Web-Based Creator Platform provides 'advanced' authoring capabilities compared to the mobile app, including the ability for creators to upload their own OBJ/GLB files, and create their own 3D objects. Placing content in a large area using only mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.
With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse.
The Software Development Kit contains code libraries and API information that allows developers to build their own white label & private label mobile apps on both iOs and Android leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators will be able to develop white label and private label apps and access ARway APIs to author maps using the Web Creator Portal. The SDK features the latest and greatest of the ARway mobile app.
For further information, please contact:
Investor Relations Contact Lindsay Betts [email protected] 866-ARitize (274-8493) Ext 7201
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR 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 AR 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 eCommerce platforms, which currently generate most of its revenue. Nextech's eCommerce 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 eCommerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation eCommerce 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.