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NexTech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) Successfully Grows Revenue 235%; Explores Launch of NFT Marketplace for Augmented Reality
March 25, 2021

NexTech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) Successfully Grows Revenue 235%; Explores Launch of NFT Marketplace for Augmented Reality

  • Nextech AR Solutions, an augmented Reality company is projecting revenues going from $20mill in 2020 to over $50 million for 2021.
  • Nextech’s Platform (“VXP”) chosen to host the Student Veterans of America’s (“SVA”) 2021 National Conference in February Featuring first lady Dr. Jill Biden.
  • The company is working towards introducing a new NFT technology for what is considered “the holy grail of AR” a LIVE volumetric human hologram in their AiRShow app.
  • Nextech AR launched its AR AD Network which will be generating reveue off it’s owned and operated digital platfoms this month.

Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF) is a Vancouver-based augmented reality company focusing on e-commerce, education, hybrid events, and more, using its AR 3D network. An article on Nextech’s development and projects read that the company is projecting revenues over $50 million for 2021. The company’s Q4 2020 bookings were recorded at $7.3 million (estimated), marking a greater than 235% year-over-year increase.

The company recorded a mammoth 235% revenue growth for calendar 2020, reporting $20 million for the 12 months. The web-based AR platform attributes its success to the newly launched 3D ad network that has secured the company new and existing contracts along with conversions from the e-commerce channels.

The company is exploring the launch of a NFT marketplace:

A Non-Fungible Token, or NFT, is a unique identifier on a blockchain such as Ethereum that represents verified ownership of digital assets. NFTs are becoming increasingly prevalent within the realm of digital content and can be used to represent tangible and intangible assets, such as music, digital artwork, video, and virtual or augmented reality assets.

Nextech’s AR NFT marketplace when launched will be used initially to create meaningful transactions that live forever as NFT enabled AR experiences. The Company’s AiR Show mobile app which is currently available globally on iOS and Android was created for musicians to be able to beam themselves into people’s living rooms as a hologram and put on a performance. The Company believes these performances in the app will be a perfect NFT enabled use case. Each musician’s performance can be unique, rare, collectible, downloadable, immutable and re-sellable which are all unique qualities of an NFT transaction. The company expects to develop many additional use cases for its NFT enabled marketplace.

Nextech AR CEO and founder Evan Gappelberg stated that the company is toiling hard in the AR segment to introduce its new technology in the market, which includes a live volumetric human hologram in their AiRShow app. The company is focusing on providing the AR room to the consumer market as a standalone product. While the company has the AR technology intergrated as a part of their events platforms, they will soon be launching this enhanced version of Zoom lookalike with AI and AR technology.

Gappelberg was notably pleased that Nextech’s Virtual Experience Platform (“VXP”) was chosen to host the Student Veterans of America’s (“SVA”) 2021 National Conference in February. This event showcased a keynote address by first lady Dr. Jill Biden and other imminent speakers such as author Gary Vaynerchuk, actress, neuroscientist, and author Mayim Bialik, and Secretary of Veterans Affairs Denis McDonough (https://ibn.fm/y3jOM).

Nextech successfully launched its Ad network, which is run by former MSFT ad network president Hareesh Achi, which will further strengthen the company’s stance as a power player in the Augmented reality ecosystem. The Ad Network generated a over 1million impressions during a test at the recently held virtual and hybrid events for Repticon who hosts 100 events annually and the North Carolina Association of Zoning Officials (“NCAZO”) Annual Conference. 

With the launch of the AR Ad Network, Nextech is now uniquely positioned to deliver native ads and augmented reality solutions for the hybrid events for its enterprise customers who include: Amazon, Viacom, Johnson and Johnson, Bell Canada, Grundfos, UNESCO, Dell Technologies, Luxottica, Vulcan Inc, TEDx, Arch Insurance and others (https://ibn.fm/hAWUe).

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 (https://ibn.fm/2pDen). 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

For more information, visit the company’s website at www.NextechAR.com.

NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF

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