Nextech3D.ai Sees Ecommerce Industry Shift Accelerating to 3D Models As Major Ecommerce Platforms Discontinue 360 Spin Experiences In Favor of 3D-AI and Augmented Reality (AR) Technologies

The e-commerce industry is witnessing a paradigm shift with the integration of 3D and AR technologies

TORONTO, ON / ACCESSWIRE / June 18, 2024 / Nextech3D.AI (OTCQB:NEXCF)(CSE:NTAR)(FSE:1SS), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" and other major e-commerce retailers sees the industry it operates in accelerating. As a pioneer in 3D and Augmented Reality (AR) technologies, the company is at the forefront of transforming the e-commerce landscape. As online shopping continues to evolve, Nextech3D.AI's AI solutions are transforming how consumers interact with products, helping to drive a new era of immersive and interactive shopping experiences in ecommerce.

The 3D and AR Transformation in E-Commerce:

The e-commerce industry is witnessing a paradigm shift with the integration of 3D and AR technologies. These innovations are redefining the online shopping experience by offering consumers a more engaging and realistic way to explore products. Most recently, Amazon discontinued the use of 360 spin experience and has set its sights on the transformative potential of 3D and Augmented Reality (AR) technologies¹.  At this year's AWE USA2024 conference there are presentations related to using 3D and AR, and building 3D models efficiently. Few key sessions we at Nextech are excited about are:

Unlock the Future of Shopping: Navigating the 3D and AR Revolution on Amazon

Rendering Believable 3D Assets for E-Commerce

As we see more ecommerce ecosystems shifting towards 3D and AR, we at Nextech are well positioned to take advantage of this shift as we have already built systems at scale for 3D and AR creation. Key benefits of this technological revolution include:

• Enhanced Product Visualization: 3D models and AR experiences allow customers to view products from every angle, providing a comprehensive understanding of their features and aesthetics. This level of detail helps bridge the gap between online and in-store shopping.
• Improved Customer Engagement: Interactive 3D and AR experiences create a more engaging shopping journey, keeping customers on websites longer and increasing the likelihood of purchase. The immersive nature of AR can turn shopping into a fun and memorable experience.
• Reduced Return Rates: By enabling customers to visualize products in their own environment, AR helps ensure that purchases meet their expectations. This can significantly reduce return rates, saving time and costs for both consumers and retailers.
• Personalized Shopping Experiences: AR technology can provide personalized recommendations and virtual try-ons, tailoring the shopping experience to individual preferences and needs. This customization enhances customer satisfaction and loyalty.

Nextech3D.AI's Role in the E-Commerce Transformation:

Nextech3D.AI is at the vanguard of this technological transformation, offering a suite of innovative solutions that empower e-commerce businesses to harness the full potential of 3D and AR:

• State-of-the-Art 3D Modeling: Nextech3D.AI creates hyper-realistic 3D models that can be easily integrated into e-commerce platforms. These models provide an unparalleled level of detail and accuracy, enhancing product visualization and customer confidence.
• Seamless AR Integration: The company's AR solutions enable customers to visualize products in their own spaces using their smartphones or other devices. This feature is particularly beneficial for furniture, home decor, and fashion retailers, allowing virtual try-ons and placements.
• AI-Driven Content Creation: Nextech3D.AI's AI-powered tools streamline the creation of 3D and AR content, making it accessible and cost-effective for businesses of all sizes. This technology accelerates the adoption of immersive shopping experiences.
• Customizable AR Applications: The company offers bespoke AR applications tailored to the unique needs of each retailer. These applications can include features such as virtual showrooms, interactive product demonstrations, and personalized recommendations.

Shares for Services

The Company also announces today that in order to manage its cash flow and reduce or possibly eliminate its dependency of raising capital for payroll it has renewed its share purchase warrant program that was originally announced last year, pursuant to which it will issue an aggregate of 9,000,000 share purchase warrants (the "Warrants") to its service providers in connection with their employment and/or consulting arrangements with the Company. Each Warrant will be exercisable to acquire one common share of the Company (an "Underlying Share") at an exercise price of CDN$0.125 for a period of one year. The Warrants will be automatically exercised in equal monthly tranches on a pro rata basis over the term of the Warrants, and the exercise price will be satisfied by the monthly salaries otherwise payable by the Company to the recipients of the Warrants. Upon exercise, the recipients of the Warrants may opt to either receive the Underlying Shares, or participate in a managed sale program to sell the Underlying Shares on the open market and receive the cash proceeds. Any shortfall as a result of participation in such a managed sale program will be funded by the Company.

¹https://www.channelmax.net/article/mazon-shifts-from-360-degree-images-to-3d-models-for-product-listings

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For further information, please contact:

Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)

About Nextech3D.ai

Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers with patented 2D-3D technology. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.

The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.

Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.

Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.

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. 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.

SOURCE: Nextech3D.ai