Nextech AR Solutions (Nextech) (OTCQB: NEXCF) (NEO: NTAR.NE) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events today announced the launch of new standardized chat features within its Virtual Experience Platform /VXP) and recently-launched ARoom collaborative streaming solution. Nextech will also offer the chat platform, as a stand-alone SaaS service externally, increasing the company's revenue potential for 2021.
The AI driven chat features will be integrated directly into the existing VXP system, allowing for a seamless, optimized experience for attendees and organizers looking to navigate between event programming and chat venues. With the new integration, participants can easily launch direct chats by searching for other attendees by name, company, or other available data. Event managers can also set up networking rooms within an existing event dashboard or create moderated Q&A sessions that allow speakers to communicate directly with large audiences. Chat logs can be downloaded following events, both for group and Q&A session chats and direct messages, as needed.
‘ARoom’ Live Streaming
Augmented reality (AR) and artificial intelligence (AI) functionality will be available throughout the streaming interface, allowing for virtual and hybrid event experiences that break the confines of attendee computers and mobile devices. Without the need for a third-party streaming provider, Nextech AR will now be able to incorporate AR into the streaming experience via presenter holograms, AR objects and AR filters similar to Snapchat and more.
Like the VXP and ARoom Live Streaming platforms, the new chat features will be fully scalable and can accommodate unlimited users for the largest conferences and events while also being convenient and accessible for direct messaging. Across all events and platforms, the chat functionality will be secure and fully GDPR compliant with privacy requirements. The features will also be available as a standalone product that can be easily embedded in other internal and external products. With AI enhancements complex chatting experiences can happen, even in rooms with thousands of users.
“Standardized, embedded chat features will take the networking features in our Virtual Experience Platform and ARoom solutions to the next level at a time when more industries, companies and groups are looking to host immersive virtual events and experiences,” said Mark Pace, CTO, Virtual Experience Platform at Nextech AR. “Previous versions of chat were external embeds resulting in a suboptimal experience for our users. This first-class chat integration makes it easy and natural for attendees to connect with one another, network and recreate some of the most engaging in-person experiences within a fully virtual or hybrid event environment. I’m really excited about this as well as the upcoming potential to incorporate AI into this platform!”
Evan Gappelberg, CEO of Nextech AR comments, “At Nextech we’re constantly looking for ways to evolve our products and technology to deliver best-in-class experiences and services to all our customers. Our team of over 50 software engineers have their finger on the pulse of this rapidly growing industry and is working hard with our R&D department to develop new features and functionality to further solidify our market leading position as the go-to virtual event and experience partner, and platform”. He continues, “The launch of these AI driven chat features are the first of many technology upgrades we have planned for the VXP and “ARoom” live streaming platforms in the coming months. We are experiencing rapidly growing demand globally for our products and platforms and are working overtime to deploy these innovative tools to co-create some truly incredible events with our growing list of blue-chip clients in 2021 and beyond.”
Nextech’s platforms have serviced many Fortune 500 businesses such as Amazon Viacom, Northwell Health, Johnson and Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc , Boehringer Ingelheim, TEDx, Grundfos, Arch Insurance. Security is a core feature of the company which reported a breakthrough in security with the help of Fastly, an edge computing company. Bringing token authentication to the edge greatly enhances security and performance, which is essential for winning more contracts from Fortune 500 companies.
Also, Nextech has entered into an agreement with SRAX (“SRAX”), a financial technology company that unlocks data and insights for publicly traded companies. The agreement is for an initial term of 12 months pursuant to which Nextech will work with the SRAX platform to track shareholders' behaviors and trends, manage investor outreach, track warrant conversion, manage quarterly earnings calls and hold investor conferences. In consideration for SRAX’s services, Nextech has agreed to issue SRAX 200,000 common shares at a price of C$6.61 per share. The issuance of the shares to SRAX is subject to approval of the NEO Exchange and the common shares are subject to a six (6) month lockup period.
To learn more about Nextech AR, please visit www.Nextechar.com
Recent Company Highlights:
About Nextech AR
Nextech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.
The company is pursuing four verticals:
Virtual Experience Platform (VXP): An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With Nextech’s VXP platform having augmented reality, AI, end-to-end encryption, and built-in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.
ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. Nextech has a ‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its ARitize white label app, its ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.
ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.
ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Evan Gappelberg
Chief Executive Officer
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The NEO 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”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance, or achievements of Nextech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and 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.
Last Trade: | US$0.10 |
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Market Cap: | US$12.190M |
April 03, 2024 March 26, 2024 March 12, 2024 |
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