SaaS Platform for CAD to 3D Conversion
3D Product Configuration
3D Virtual Photography
TORONTO — (BUSINESS WIRE) — September 22, 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 3D model services is pleased to announce it has launched its groundbreaking Toggle3D, a new AI powered SaaS platform that enables the creation, design, configuration and deployment of 3D models at scale. The Company sees this launch as a major milestone on its way to becoming the dominant 3D model platform and looks forward to Toggle3D becoming a new high margin engine of growth.
To experience the beta platform and try the technology, please visit the Toggle3D website - click here
Toggle3D is a standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required. The Company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale.
CAD is a function of product engineering. Industrial designers, working for product manufacturers, use CAD software like AutoCAD, and SolidWorks to design many of the products in the modern world. The Toggle3D platform leveraged AI so those raw CAD files can be converted to photo realistic, fully textured 3D models at scale. Toggle3D technology creates optimized 3D meshes that are suitable for 3D and AR applications.
The use of CAD files is ubiquitous across manufacturing verticals including; automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, healthcare, consumer goods and others. According to BIS Research, the CAD market, quantified by the amount spent on the creation of CAD files, is $11 billion dollars by 2023.1...the Company sees substantial use cases.
Toggle3D uses Nextech AR’s patent pending technology AI (enabling the conversion of CAD files into 3D models at scale) as well as the Company’s ARitize Configurator product. Creators can easily transform their CAD files into 3D models, or bring their existing 3D models into the platform. Within the platform, creators will be able to conduct 3 types of projects which are all templatized for a fantastic user experience: 3D Product Configurators, Virtual Photography, and Product Demos being rolled out over the next few weeks.
To rapidly gain early adopters, Toggle3D will be available both through a free trial and pro SaaS license. A free license will give users just enough functionality to try out the platform and experiment with the technology. By upgrading to a pro plan, users will be granted full access to the entire platform. This includes unlimited projects, more materials, larger file uploads, more storage, and other advanced editing tools. It is a completely self-serve platform, that contains an extensive pre-built library of high-quality over 1000 PBR materials. Toggle3D makes things easy, with a friendly user interface that works for the user and makes the entire 3D journey seamless and predictable. The user is fully in control of their design output.
Yesterday, CEO Evan Gappelberg joined the Wall Street Reporter’s NEXT SUPER STOCK for a livestream event, where he discussed the new Toggle3D product and provided a live demo of the platform. Watch the replay - click here
About ARitize Configurator
ARitize Configurator was previously only available as a managed service but now is also available as a self-serve product through the Toggle3D platform.
To use the product configurator within Toggle3D, a user is required to bring a CAD file or an existing 3D model. Once the 3D model is created or uploaded, the configurator tool makes it easy and seamless to change the colors, materials, and individual parts all in engaging real-time 3D.
The Configurator has many use cases, including eCommerce, where color and material configurators can be published on eCommerce websites, creating a valuable shopping experience for customers. A study by Deloitte concluded that 1 in 5 consumers who preferred customizations was willing to pay up to 20% more for the product2. For merchants, the Configurator is a cost-effective way to showcase all the product variations without incurring any additional photography costs. One high-quality 3D model can be customized, zoomed, and spun 360 degrees to showcase all the product details in an easy and cost-efficient way. These benefits increase the speed to market for merchants by reducing the need to keep all their physical inventory on hand while providing an engaging end-user experience.
The Configurator can also be used as a prototyping tool, used internally to make or communicate design decisions and gain stakeholder buy-in.
Watch a video of the ARitize Configurator - click here
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
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 eCommerce platforms, which currently generate most of its revenue. Nextech's eCommerce 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 eCommerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation eCommerce 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005207/en/
Contact:
Investor Relations:
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)
