Company is monetizing its 200,000+ 3D Model Library
TORONTO, ON / ACCESSWIRE / May 16, 2024 / Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is excited to announce significant enhancements to its revenue streams through a strategic partnership with Toggle3D.ai (CSE:TGGL)(OTCQB:TGGLF)(FSE:Q0C). This collaboration introduces a new, AI-driven marketplace featuring over 200,000+ of our meticulously developed 3D models, now available for purchase in millions of colors and configurations at prices ranging from $20 to $95 per model.
These models, which encompass a diverse array of 3D models, quad meshes and parts, have been crafted over several years, generating millions in revenue for Nextech3D.ai. By leveraging Toggle3D.ai's innovative generative AI platform, Nextech3D.ai aims to significantly increase this revenue. A 30% royalty fee on sales through the Toggle3D.ai marketplace will contribute to this growth.
Evan Gappelberg CEO of Nextech3D.ai comments " After spending 3-years and $20 million creating AI-powered 3D modeling technology, generative AI texturing capabilities and 3D cloud hosting platforms we are now totally focused on monetizing them. This partnership allows users to customize purchased models using Toggle3D.ai's advanced generative AI texturing tools. This capability not only enhances user experience by offering countless customization options but also opens up a new avenue for revenue generation through these unique, tailored models. We look forward to seeing the creative ways our models are used and the continued expansion of our marketplace."
Example of the companies new AI Rendering of a 3D Chair & Ottoman in 4K:
Nextech3D.ai Continues to Sign New and Renewal 3D Modeling Deals
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping, including Amazon, Walmart, CB2, IKEA, Sephora, Target and more.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
According to Amazon Prep: Amazon Has Measured the Following 3D/AR Model Benefits:
- an 8X increase in customers who viewed a product in AR at Amazon, from 2018
- 2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or View in 3D is enabled on an Amazon Product Listing
- 94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
- 9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing
Other Benefits of 3D
- 3D content that is created can be used beyond the detail page.
- Save money on product photography by using 3D assets to render detail page images
- Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup
- Many 3D content creators can use 3D assets to create animations, videos and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities
The Power of 3D Models in E-Commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
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About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
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.
SOURCE: Nextech3D.ai
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