Mr. Evan Gappelberg reports

NEXTECH3D.AI ANNOUNCES NEW PRODUCTION RECORD HAVING DELIVERED MORE THAN 50,000 3D MODELS

Nextech AR Solutions Corp. has just surpassed a major milestone, having delivered more than 50,000 3-D models to its satisfied customers. This remarkable achievement reflects a notable surge in both production and demand throughout 2023, driving the company to report record-breaking preliminary results of $1.4-million, up 55 per cent in the second quarter of 2023, and to forecast $1.7-million to $1.9-million in Q3, up 200 per cent year-over-year. This positive outlook is driven by the accelerating demand for its state-of-the-art solutions.

Nextech is at the forefront of the massive and growing 3-D modelling industry, utilizing cutting-edge generative artificial intelligence technology to create photorealistic 4K 3-D models that cater to the specific needs of major e-commerce giants including Amazon and others. It is estimated that e-commerce is a $5.5-trillion global industry and that Amazon alone has over 300 million products. To date, total 3-D models converted is still less than 1 per cent of the total, leaving massive room for growth in the years to come. Due to a strong return on investment on 3-D models the company has been seeing a growing market appetite for immersive and interactive shopping experiences; now in Q3, demand is starting to rapidly accelerate.

Evan Gappelberg, chief executive officer and founder of Nextech, commented: "We are thrilled to have achieved this significant milestone of delivering over 50,000 3-D models to our valued clients. The accelerating demand for our immersive 3-D models is a testament to our commitment to generative AI innovation and exceptional customer satisfaction. Nextech3D.AI remains committed to providing exceptional services to its growing and diverse clients, including the e-commerce giant Amazon, while embracing advanced generative AI technology to stay ahead in the ever-evolving e-commerce landscape. With a strong focus on AI-powered innovation and customer satisfaction, the company is poised to achieve its goal of becoming the dominant 3-D modelling company."

Recently, the company announced it had achieved a major breakthrough in generative AI technology that facilitates the generation of 3-D materials from text prompts. This breakthrough in text to 3-D material creation is key in driving the company forward in its quest to be the dominant 3-D model supplier for the e-commerce industry. The 3-D models for e-commerce TAM (total addressable market) are estimated to be worth $100-billion over the next decade.

Investor live stream details

Join Nextech: today, Wednesday, Aug. 9, 2023

Topic: "How is Generative AI Driving Record 3-D Model Production + Record Demand"

Time: 12 p.m ET/9 a.m PT

Presenter: Mr. Gappelberg (founder and CEO)

About Nextech AR Solutions Corp.

Nextech AR Solutions is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3-D experiences at scale for e-commerce. The company's primary focus lies in creating high-quality 3-D WebAR photorealistic models for Amazon and various other on-line retailers. Nextech has adopted a unique approach to creating shareholder value beyond its operating business of creating 3-D models.

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