Mr. Evan Gappelberg reports

ARWAY THE SPATIAL COMPUTING PLATFORM FOR THE METAVERSE ANNOUNCES MULTIPLE PILOT PROJECTS FOR AR WAYFINDING

ARway Corp. has signed multiple pilot projects for augmented reality (AR) indoor wayfinding and is now experiencing a surge in demand for its AR wayfinding services. Once converted to long-term contracts, these pilot programs have significant revenue implications for the company.

ARway's pilot projects span several countries across the globe and include multiple industries, including retail, university campuses, museums and airports, showcasing the wide range of applications of ARway.

The pilot projects are as follows:

• Large hospital group: ARway will deploy augmented reality wayfinding within a single three-storey hospital covering over 30,000 square feet. This pilot project has the potential to roll out to 200 hospitals within the same hospital group.
• Spain airport: In this airport, passengers will be able to use AR wayfinding from the arrival gate to baggage claim to transportation depot using image tracking technology. This pilot project will be using ARwayKit SDK (software development kit) to integrate AR wayfinding into the transportation provider's mobile app.
• Brazil airport: In this airport, passengers will use AR wayfinding to the ground transportation depot from baggage claim. The ARwayKit SDK will integrate AR wayfinding into a car rental company's mobile app.
• 400,000-square-foot Dubai mall: As announced on Dec. 12, 2022, ARway successfully spatially mapped a 400,000-square-foot mall for a pilot project, showcasing the company's breakthrough augmented reality indoor wayfinding solution. If the pilot is successful, it is anticipated that the ARway solution will be rolled out into more than a dozen additional malls controlled by the same ownership company. With ARway's technology, implementation will include a digital concierge with augmented reality wayfinding and marketing campaigns. This pilot will test the adoption of AR enhanced wayfinding, gamification and marketing content by mall visitors.

Evan Gappelberg, chief executive officer of ARway, commented: "We are fielding a steady flow of requests from Fortune 500 companies and have now started to hire an enterprise sales force to help address this rapidly growing demand. We expect to have over 100-plus pilot programs in play over the coming months and expect many to convert into full-scale projects."

He continued: "We are working on large individual projects that, once commercialized, can generate as much as $250,000 per month in MRR [monthly recurring revenue] or $3-million in ARR [annual recurring revenue]. As we book these pilot programs and listen to the customers' needs, we are convinced that ARway will become the de facto standard for AR wayfinding in 2023. We are extremely excited to have so much early demand as we are just at the beginning of ARway's wayfinding journey."

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations, which significantly improves visitor experiences in large and complex spaces.

According to research from Technavio, "The global indoor positioning and indoor navigation (IPIN) market size will grow by $23.03-billion (U.S.) from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR [compound annual growth rate] of 33.21 per cent during the forecast period." The market growth will be led by North America as this region will account for 40 per cent of the market's growth during the forecast period. This represents a substantial revenue opportunity for ARway as it aims on becoming the leading service provider for indoor navigation across all industries.

About ARway Corp.

ARway is a no-code spatial computing platform for the real-world metaverse. It enables augmented-reality-enhanced indoor navigation and wayfinding solutions for large, multipurpose venues enabled by marker-based tracking using QR (quick response) codes. Visitors can access a venue map by scanning a QR code with their smart phones upon entering the venue to navigate to any point of interest (POI) with step-by-step directions, learn information about those POIs, and interact with rich AR content and experiences along the way.

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech's 3-D/AR technology solutions to new substantial markets, for use by creators, brands and companies.

The ARway platform includes the following.

Web creator platform

The Web-based creator platform provides advanced writing capabilities compared with the mobile app, including the ability for creators to upload their own OBJ/GLB files and create their own 3-D objects. Placing content in a large area using only the mobile app required the user to physically be in the specific location, which was unscalable. The Web studio allows the user to place and write content remotely and at scale.

Mobile app

With the ARway mobile app, anyone can spatially map his or her location within minutes using his or her smart phone and populate it with interactive 3-D content, augmented reality wayfinding, audio, text, images and more. Nextech AR provides several preloaded 3-D objects, which creators can leverage to populate their metaverses.

ARwayKit SDK

The software development kit contains code libraries and API (application programming interface) information that allows developers to build their own white label and private label mobile apps on both iOs and Android, leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators will be able to develop white label and private label apps and access ARway APIs to write maps using the Web creator portal. The SDK features the latest and greatest of the ARway mobile app.

Nextech AR Solutions

On Oct. 26, 2022, ARway was spun out from its parent company, Nextech AR Solutions. Nextech AR retained a control ownership in ARway with 13 million shares, or a 50-per-cent stake. Nextech AR Solutions is a metaverse company and leading provider of augmented reality experience technologies and 3-D model services. Nextech's AI-powered 3-D modelling platform, ARItize3D, has contracts with AMZN, KSS, CB2, Genuine Parts and many others.

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