Nextech AR launches major upgrades for its SaaS e-commerce platform – ARitize Decorator

TORONTO–(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 3D model services is pleased to announce that it has released major upgrades and features to its SaaS product ARitize Decorator for e-commerce. ARitize 3D uses groundbreaking artificial intelligence technology to create high-quality, large-scale 3D models for the largest leading e-commerce market. ARitize Decorator can be seamlessly integrated with any e-commerce website acting as a software extension to Nextech’s ARitize 3D platform. The decorator works with ARitize 3D to transform these models into experiences by contextualizing their importance in the e-commerce journey.

Watch a video of the ARitize decorator – click here

Try the ARitize Decorator tool yourself – click here and scroll down the homepage

New ARitize Decorator features to revolutionize the e-commerce experience include:

  • magic eraser: For the first time ever, shoppers will now be able to remove any element of their bedroom photo with a “magic eraser” tool and then replace it with a new product. It works exactly like Google’s magic eraser for the Pixel phone.
  • Color changer: The consumer will be able to change the layout of the floors, add ceiling elements and even change the color of the walls. Nextech AR believes that all of these personalization tools combined will provide consumers with a shopping experience never seen in the market before.
  • 3D model overlap: Buyers can now overlap multiple 3D product models when using ARitize Decorator to design an interior, including placing rugs under furniture.
  • New UX/UI: Along with the new features, the product received a major design improvement, with user experience and user interface updates.

ARitize Decorator allows customers to place 3D versions of products into uploaded photos of their own space. For example, if a customer wanted to design their living room, they could take a regular 2D photo of their living room, upload it to an ARitize decorator, and design the space by adding 3D product models of furniture and decor from the retailer. By previewing these products in real scale in their home and seeing what works best, buyer confidence is increased and they are more likely to make a purchase. Alternatively, customers can also use stock templates of different room types, which are provided in the Decorator platform.

ARitize Decorator allows online shoppers to preview furniture, lighting, rugs, wall art, and other decor right in their rooms using a simple 2D photo. This solution uses advanced artificial intelligence (AI) technology to automatically analyze the room layout uploaded by the buyer and analyze the room surfaces to reconstruct the scene. This whole process only takes a few seconds before the buyer can seamlessly place 3D models inside the 2D photo as if they were part of the room. For merchants, this technology increases the average cart size as users can place multiple 3D objects and add them all to the cart with a single click. The ARitize Decorator also acts as a tool to merge the online and offline shopping experience by allowing shoppers to take their home with them to the store. This way, a shopper can place all physical items seen in store directly in their room before committing to the purchase.

ARitize Decorator is seamlessly integrated and acts as a software extension of Nextech’s ARitize 3D platform, which uses groundbreaking artificial intelligence technology to create high-quality 3D models. The Decorator works with ARitize 3D to transform these models into experiences by contextualizing their importance in the e-commerce journey.

The technology that powers the ARitize Decorator product is also a perfect use case for the increasingly popular virtual interior design and e-design industries. Interior design trends continue to change drastically with constant technological breakthroughs. The technological innovations behind products like ARitize Decorator increase work efficiency, save time, and allow designers or businesses to digitally connect and collaborate with customers. The constant integration of new technologies, such as artificial intelligence (AI), virtual reality (VR) and augmented reality (AR), will continue to grow the interior design software market in the coming years . According to a study by The Insight Partners, the interior design software market size is expected to reach $6.87 billion by 2028, from $3.33 billion in 2020; it is expected to grow at a CAGR of 9.8% from 2021 to 2028.1

In an article for Architectural Digest, Shanna Tellerman, Managing Director of Modsy, said: “We won’t make as strong a distinction as we do today between what we consider the offline and online physical world. For designers, this opens up the idea that they can have clients anywhere. Ten years from now, people will be using visualization to buy furniture, whether they’re going to a store to buy a piece, trying to furnish an entire room, or hiring an interior designer. This will be an expected part of the stream.2

Stock-based compensation

Evan Gappelberg – CEO took restricted stock in lieu of cash for services rendered by Atlas Advisors LLC (Evan Gappelberg) in the amount of CAD $264,962.91 for 339,696 common shares. The assumed price per share is C$0.78 and the shares are subject to a 4 month hold period. As insiders of Nextech participated in the transaction, it is deemed to be a “related party transaction” within the meaning of the multilateral instrument 61-101. Protection of holders of minority securities in special transactions (“IM 61-101”). Nextech relies on the exemptions from the formal minority valuation and approval requirements contained in sections 5.5(a) and 5.7(1)(a) of NI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of Nextech’s market capitalization. The Company will file a material change report regarding the related party transaction on SEDAR.

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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 cost-effectively ARitise (transform) vast amounts and varieties of existing assets at scale, making products, people, and places ready for use. Interactive 3D, giving creators at all levels all the essential tools they need. to develop their vision of digital AR in the Metaverse. Our platform-agnostic tools enable brands, educators, students, makers, creators, and technologists to create the most photorealistic, interactive, and immersive 3D assets and digital environments, compose AR experiences, and publish them to any device. canals. With a comprehensive suite of end-to-end AR solutions in 3D commerce, education, events, and industrial manufacturing, Nextech AR is uniquely positioned to serve the needs of the world’s leading 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”), Infinitypetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and sale of residential vacuum products, supplies and parts, and small appliances sold on Amazon. These e-commerce platforms serve as an incubator to develop and test Nextech’s cutting-edge AR, AI and machine learning applications to power next-generation e-commerce technology.

Forward-looking statements

The CST hais not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these 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 is incorporated by reference herein, except as required by applicable securities laws.

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1 https://www.globenewswire.com/en/news-release/2022/03/24/2409809/0/en/Interior-Design-Software-Market-Size-Worth-6-87Bn-Globally-by-2028- at-9-8-CAGR-Exclusive-Report-by-The-Insight-Partners.html

2 https://www.architecturaldigest.com/story/future-interior-design-profession

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