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Nextech AR Announces Major Upgrades to Its Real-World Augmented Reality Spatial Computer Platform, “ARway”

TORONTO — (BUSINESS WIRE) — July 8, 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 Company has launched significant upgrades to its augmented reality spatial mapping platform, “ARway”, (previously referred to as ARitize Maps).

Evan Gappelberg CEO of Nextech comments “Spatial computing is beyond Virtual Reality and even Augmented Reality and I believe is the next big thing. It’s the logical next step in the ongoing convergence of the physical and digital worlds. It does everything virtual-reality and augmented-reality can do and much more. Pretty soon we will be living inside a computer simulation with digitized 3D objects that connect via the cloud. He continues “ The magic happens when you can combine all of this with high-fidelity spatial mapping to enable a computer platform which in our case is ARway. We can even track and control the movements and interactions of objects as people navigate through the spatial. We are getting very close to when Spatial computing with the help of AI will bring human-to-machine and machine-to-machine interactions to new levels of efficiency disrupting many industries, and creating the next trillion dollar opportunity. Major technology companies, including Unity, Epic Games, Microsoft and Amazon, are heavily invested and continue to invest in spatial computing technology.”

Upgrades and updates to the platform include:

Early adopters who have already signed up and are co-developing the platform with Nextech AR include:

ARway is a next generation spatial computing platform for the real-world metaverse that drives new revenue for properties and brands with out-of-box augmented reality (“AR”) mapping solutions. The ARway offering includes a mobile app as well as a no-code required web-based creator portal and software development kit (“SDK”) to form the ARway platform. This offering was recently launched to early adopters. Creators can map, author, and publish various metaverse experiences ranging from AR wayfinding to an array of AR experiences for exclusive branded activations. With the ability for location-specific, interactive and immersive AR content and proximity marketing campaigns, user experiences can be improved, user engagement will be driven and brand value can be maximized.

Mobile App

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 platform has a Visual Position System (“VPS”) which Nextech refers to as Mapping and Localization where users can map and enable VPS in any area through the platform. Occlusion, depth sensing and segmentation are also available. Users can share their metaverse with others, creating a new level of immersive interactivity for social, branding, advertising, gaming and more metaverse experiences.

Download the Mobile App

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Creator Portal

The web-based Creator Portal 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.

Features in the ARway Creator Portal include:

AR WAYFINDING: No code indoor spatial navigation with MetaMaps. Brands and creators can now author hyper-accurate augmented reality indoor navigation without the need for beacons, wifi, or external hardware.

MULTIPLE CREATORS: Creators can now collaborate in the authoring of metaverse experiences from across the globe in real-time.

VERSION CONTROL: The option to save map edits and version control, which will allow creators to control what changes to the maps will be released publicly.

ANALYTICS: Creators can gauge the success of their creations against set objectives by analyzing consumption data. Deep insights into customer behavior and comprehensive location-based analytics are provided for optimal results.

Early Adopters

The ARway platform has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. These include but are not limited to venues, hospitals, airports, shopping malls and retail stores, art galleries and museums, events and tradeshows, universities, public spaces, sports stadiums, restaurants, rental properties and real estate, and more. With value propositions spanning multiple industries and use cases, ARway opens Nextech’s 3D/AR technology solutions to new markets, for personal and professional use by creators, brands, and companies alike.

Spin Out

ARway is the new official title of the platform (previously referred to as ARitize Maps). As recently announced, Nextech AR will pursue a direct spinout of its ARway platform through a wholly-owned subsidiary of the Company (“Subco”).

Nextech intends to seek a direct listing of the Subco shares on the Canadian Securities Exchange ("CSE"). Shareholders of Nextech are anticipated to receive 3,200,000 new spin-out shares of ARway as a stock dividend on a pro-rata basis.

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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 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.

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.


Contact:

Investor Relations Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201