TORONTO, ON / ACCESSWIRE / April 4, 2023 / Nextech3D.AI (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce that Toggle3D has increased the converting power of its CAD to POLY importer by over 10X, and is now able to convert manufacturing files over 1000mb. These new features will allow the Company to close new revenue opportunities for enterprise-level manufacturers looking to unleash their CAD files for usage on the web. Toggle3D enables the conversion, texturing, customizing, and sharing of the highest quality 3D models at scale, using CAD files and is creating an industry-leading solution for the $160 billion CGI market.
Since the Beta launch, Toggle3D.ai has attracted a variety of users such as designers, developers, 3D artists, entrepreneurs and creators, reaching over 1000 users on the platform within 2 months. The rapid adoption of this technology is continuing as it now has surpassed 1300 new users and positions Toggle3D.ai to become an industry leader in the estimated $160 Billion Global GGI Application Software market.
Using breakthrough AI- Toggle3D has greatly improved its ability to convert heavy manufacturing files by a factor of 10X. Previously, the platform allowed users to convert file sizes of up to 75MB on the Pro Plan, however, the product has been testing an enterprise-level solution that converts files over 10X bigger than the existing limit.
This new enterprise package sets up the converter on-premise for enterprise-level clients to upload their CAD files directly from their systems and into the Toggle3D converter in a secure and efficient way. Once the file has been uploaded to the converter, the system starts the mesh generation workflow. The software parses the CAD file, extracts the parts, and produces quadrilateral meshes for each part. Using machine learning (ML) and computer vision tools, the algorithm will then reliably detect, and optionally remove, components that are not visible once a CAD file is converted to mesh. This optimizes the file size and usability without sacrificing visual quality or representation, allowing for the opportunity to decrease a file by 95%.
Nextech3D.ia CEO Evan Gappelberg comments, "This generative AI-powered technological advancement sets up Toggle3D to serve larger enterprise clients with large CAD files that need to be both converted and compressed for use on the web. The enterprise subscription package offered by Toggle3D will include: on-premise deployment, workflow management tools, increased security protocols, dedicated account management, and technical support. This new business model addition is targeted to large enterprise clients who are asking for this solution and are looking to empower 3D design among their substantial teams and to re-use the 3D manufacturing files they already have for new use cases on the web. Pricing will remain custom depending on the needs of the organization but these are expected to be the $100,000+ customers."
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About Nextech3D.ai
(formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2 is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The Company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway.ai with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway.ai. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.On December 14, 2022 Nextech announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.
To learn more about ARway, visit https://www.arway.ai/
For further information, please contact:
Investor Relations Contact
Lindsay Betts
This email address is being protected from spambots. You need JavaScript enabled to view it.
866-ARITIZE (274-8493) Ext 7201
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
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.
| Last Trade: | US$0.04 |
| Daily Change: | -0.002 -4.76 |
| Daily Volume: | 49,205 |
| Market Cap: | US$5.920M |
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