Nextech’s Breakthrough AI is aiming to solve the multi-billion dollar 3D model supply problem
TORONTO, O.N, Canada – November 15, 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”) Wayfinding technologies, and 3D model services for the largest prime ecommerce platform is pleased to announce its has achieved breakthrough 3D content creation capabilities. The Company plans on increasing and expanding its Artificial Intelligence (“AI”) capabilities. This breakthrough in its AI capabilities translates into the ability to scale 3D model production at a higher velocity, resulting in increased production capacity, which results in higher revenue growth and higher profit margins.
The backbone of Nextech’s 3D model creation factory is a proprietary platform for scaling 3D content creation though a “virtual assembly” line. Nextech is upgrading the AI 3D model creation tools that run as part of the platform, which now supports the creation of thousands of 3D models per month. These algorithms can automatically produce 3D assets in certain categories, and significantly accelerate 3D model creation in others. The AI has been enhanced to create 3D models that pass the exacting requirements for some of the world’s largest e-commerce marketplaces. The Company believes it has breakthrough AI and is continuing to work towards additional AI breakthroughs which will have significant implications for the scaling of Nextech’s 3D model production. The Company continues to focus on being the largest 3D model supplier for the $5.5 trillion dollar ecommerce ecosystem.
Nextech AR CEO Evan Gappelberg commented, “With our recently announced multi-million dollar enterprise contacts and now with our breakthrough AI, we are well on our way to becoming the biggest 3D model supplier for ecommerce. Over the past year, we have been building our 3D modeling technology to be stable, scalable and as an end-to-end solution. We believe that everything that has ever been made, everything that is being made today and everything that will be made in the future will need a 3D twin, which means hundreds of millions of 3D models will need to exist. Without AI we don’t believe that having millions of 3D models will be possible so we have been heavily investing in AI, which is now beginning to pay dividends.” He continues, “2023 is going to be the year of AI and 3D and I believe with our breakthrough AI that we are perfectly positioned to take full advantage of these two mega-trends.”
The creation of 3D models using AI is underway for multiple product categories including rugs, pillows, wall-art, jars and decorative objects. With today's news, the Company has begun to implement its breakthrough part-based 3D model creation technology, which will start to show up throughout 2023, and will enable the platform to scale the creation of a larger class of modular objects, like chairs, tables, dressers, and more.
In addition, Nextech has implemented its proprietary physics-based-rendering (“PBR”) material estimation into Toggle 3D. Launched in September, Toggle 3D is an AR enhanced standalone web application which enables the creation, customization, and publishing of high-quality 3D models and experiences. The proprietary PBR technology allows industrial designers, and 3D customers with CAD files at hand, to create CGI-ready 3D assets within minutes. Combined with the automated texturing tools, a CAD model can be turned into a photo-realistic, web-ready 3D/AR asset with just a few clicks and without any technical or 3D design knowledge required. Creating realistic materials is a significant part of 3D model creation. To create PBR materials from reference photos using AI, the Company has invented several new technologies that are covered under a recently filed patent titled: “MATERIAL ESTIMATION FOR THREE-DIMENSIONAL (3D) MODELING”. These tools allow artists to reduce the time required to create textures and materials from hours to mere minutes. Throughout 2023, the technology will be fully integrated into the 3D model creation portal and is expected to significantly decrease the time and cost of 3D model production.
As noted in a recent press release, the Company has filed a number of patents pertaining to this proprietary technology, protecting it with these patents. An additional patent recently filed is titled “GENERATING THREE-DIMENSIONAL MODELS BY PART”.
Examples of AI Technology:
Using multiple photos (for example, 100) of a product from different angles, Nextech’s technology can create a 3D model of that product using AI techniques. On the left, the reconstructed 3D model is rendered from the same angle of a reference photo on the right.
Videos
White Table - This was created using only two reference photos from the product. Since there are not enough photos from different angles, it is not easy to directly infer the whole 3D shape of the product. Instead, since it is known that it is a table, AI algorithms are used to create a 3D model of a table that matches the photos.
Textured Colored Table - This is the same process as the previous video, adding the estimation of the textures.
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For further information, please contact:
Investor Relations Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201
Nextech AR Solutions Corp.
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
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.
On October 26, 2022 Nextech AR spun out its spatial computing platform, “ARway” as a stand alone public Company. Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake. ARway is currently listed on the Canadian Securities Exchange (CSNX:ARWY), in USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
To learn more about ARway, visit https://www.arway.ai/
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.
