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Sees 70%+ Revenue Growth Rate in 2022
Sees Accelerating Sales in New Categories
New Web 3.0 Products Expected to Drive Accelerating Sales Growth in Second Half of 2022
TORONTO, June 28, 2022--(BUSINESS WIRE)--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 signing of multiple deals in the events industry by the Map D division of Nextech AR for their self-serve event management software solution. The Map D software platform is experiencing an accelerating rate of growth, up 70% when compared to the first 6 months of 2021, and continues to expand rapidly with sales in new categories, combining integrations with Nextech’s Web3.0 technologies. The integration of these Web3.0 technologies is a game changer for the events industry and has led to a transformation of the Map D platform, accelerating its future revenue growth.
Nextech AR CEO Evan Gappelberg commented, "The Map D platform is transforming and shifting toward Web3.0 and seeing accelerating revenue growth with the integration of Nextech AR’s metaverse suite. By integrating Map D with ARitize Maps, ARitize 3D, and ARitize Holograms, we are able to maximize the potential revenue with each of our clients and offer immersive experiences that transform industries, including real estate, museums, sporting venues and more. He continues, "the Map D platform continues to grow, release new features, sign new clients, and generate accelerating revenue. Our aim is to upsell and cross sell Map D’s existing and new blue-chip clients by offering full end-to-end solutions, which provide engaging and immersive experiences that their customers want. The RC Show use case can be replicated for any event, tradeshow, convention or exhibitor hall across any industry, and incorporate 3D product visualizations, human holograms, augmented reality wayfinding, and more to wow guests and increase conversions, brand awareness, and engagement...which continues to drive strong revenue growth."
The Company is also testing and seeing early success with a massive 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. This technology will allow event show organizers to sell AR wayfinding to exhibitors as well as sponsorship opportunities to sponsors creating yet another source of revenue for Nextech.
Map D has fully embraced Nextech AR’s groundbreaking technologies, ARitize Maps, ARitize 3D and ARitize Holograms, providing the potential to take its events and associations clients into the metaverse with the Company’s spatial mapping, 3D modeling and hologram technology.
The new contracts signed by Map D represent accelerating growth opportunities for Nextech with the potential for spatial mapping, 3D models, holograms and more as they provide the Company dozens of additional clients for upsell and cross-sell opportunities. The ARitize Maps product has an unlimited number of use cases for augmenting physical spaces in the Metaverse, including events, conventions, trade shows, real estate, rental properties, sporting events, and more. With value propositions spanning multiple industries and use cases, this app opens Nextech’s 3D/AR technology solutions to new markets and provides a seamless integration with the events and association clients of Map D. For example, Apartment Associations can use Nextech’s ARitize Map’s wayfinding spatial mapping; Home Builders can show a new home completely in the metaverse in Web 3.0, showcasing not just the home itself, but 3D assets such as furniture and home appliances. The use cases are endless.
Map D Business is gaining sales momentum in multiple categories as seen below in the large number of contracts signed with Apartment Associations, Home Builders and many others. See a breakdown of the 2022 signings in each segment below:
Sampling of New Signed With Apartment Associations Including:
Apartment Association of Greater Dallas, Apartment Association of Greater Memphis, Apartment Association of Kansas City, Apartment Association of Metro Denver, Apartment Association of Nebraska, Apartment Association of Orange County, Apartment Association of Southern Colorado, Apartment Association of Tarrant County, Atlanta Apartment Association, Bay Area Apartment Association, Chicagoland Apartment Association, Connecticut Apartment Association, Delaware Apartment Association, First Coast Apartment Association, Houston Apartment Association, Indiana Apartment Association, New Jersey Apartment Association, Pennsylvania Apartment Association, San Antonio Apartment Association, Southeast Florida Apartment Association
Sampling of New Signed Contracts Home Builders Associations including:
Florida Home Builders Association, Greater Birmingham Association of Home Builders, Greater Peoria HBA, Greenville HBA, HBA of Central New York, HBA of Marion & Polk Counties, HBA of Western Michigan, Hilton Head Area HBA, Home Builders Association of Greater Chattanooga, Huntsville-Madison HBA, Rochester Area Home Builders, Southern Utah Home Builders Association, Upper Cumberland Home Builders Association
Other Notable Contracts Recently Signed:
About Map D
Map D is a self-serve event management software solution. Map D provides clients with an extensive set of features and tools for managing almost any kind of event you can imagine. Whether someone is looking for an easy way to sell floor plan space or services at trade shows, expos, or festivals or to manage speaker and schedule details during conferences or meetings, Map D does it all and updates in real time to make it easier to communicate with event goers. Map D is a tool that makes an event manager’s job easier by automating or crowd sourcing complicated logistics while simplifying the sales processes and adding new revenue opportunities. Most clients spend 2-4 hours on setting up their event in Map D, then the rest is automated so they can sit back and collect sales, or point event participants to a single web address for all the information they may need. Map D also can provide a companion native mobile app which in the future will double as a AR wayfinding app, for in-person events or serve as a self-contained virtual venue for attendees, exhibitors, sponsors, speakers, or anyone else participating in an event.
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 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.
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