Nextech AR Receives Enterprise 3D Modeling Expansion Contract and Lands New S&P 500 Customer

Nextech's Generative AI Driving Exponential Growth For Portfolio of 3D/AR Technologies for Ecommerce

Record 3D Model Demand in Ecommerce Continuing In 2023

TORONTO, Jan. 17, 2023 (GLOBE NEWSWIRE) -- via InvestorWire --  Nextech AR Solutions Corp.  ("Nextech" or the "Company") (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Metaverse Company and leading provider of augmented reality ("AR") experience technologies, wayfinding technologies and 3D model services is pleased to announce the expansion contract with thousands of 3D model products for Majid Al Futtaim, a branding partner for world-class fashion and retail brands with more than 100 stores across the MENA region, including some of the world's most desirable brands, such as Crate & Barrel, Abercrombie & Fitch, Hollister, AllSaints, and lululemon Athletica. The Company is also pleased to announce that it now supplies 3D models for Procter & Gamble, an S&P 500 company, as well as Bunnings (owned by Wesfarmers), which has 381 locations, the largest retailer of home improvement supplies in Australia and New Zealand.

These latest 3D modeling contracts are further evidence of the global demand for 3D models due to the high ROI. Nextech anticipates the 3D model mega-trend gaining even more traction in 2023, as the mass adoption of 3D models continues. Nextech is currently in discussions with other major retailers and is anticipating a record number of new deals for 3D models in 2023.

Nextech has recently signed both new and renewal contracts for 3D model for a variety of industries:

Specialty Products

Vornado Air LLC, a premium supplier of fans, heaters, humidifiers, air purifiers, steamers and more have signed on for 3D models of their most popular products.

Home Leisure Direct, a game room products provider of pool tables, arcade machines, pinball, table tennis, etc. has signed on for a number of unique and complex 3D models to promote their games.

Speciality Outdoor Furniture / Equipment

Babmar, the most trusted brand name in weather-resistant, handwoven outdoor furniture, along with Everdure by Heston Blumenthal, Ezooza, North by North, and others. Nextech continues to see growth in this category, and will continue to expand this segment into 2023.

These contracts follow recently announced news for other specialty product retailers such as Prineta, As Good As Gold Australia, and Top Meteorite showcasing the complexity and details that Nextech's 3D models are able to provide.