TORONTO–(BUSINESS WIRE)–Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), Metaverse Company and leading provider of Augmented Reality (“AR”) experience technologies, Wayfinding Technologies and 3D model services are pleased to announce that ARway’s Spatial Computing technology is now used as part of the XR engine that powers the music app: Encore. This application of the ARway platform opens up a substantial new market; providing spatial AR activations for the music industry. As the company focuses revenue generation from its space computing platform on directing augmented reality, it is finding applications for its breakthrough technology in additional markets that open up entirely new revenue opportunities.
Jonathan Gray, CEO of Encore, said, “ARway has provided Encore with the industry-leading technology that keeps us at the forefront of the emerging music technology space, and has been instrumental in accelerating our timeline. of placing on the market.
Using ARway’s Software Development Kit (SDK) in the Encore app, artists can create immersive concert experiences for fans. Encore uses technology from ARway, giving performers the ability to create custom augmented reality sets and environments for performing, creating custom 3D worlds using objects, photos and video. ARway’s technology is used to map and locate these personalized AR environments in the physical world around customers; link AR objects to real-world locations and seamlessly blend the virtual world with the real world.
With Encore, imagine an artist performing from their living room, wanting to create a custom AR set. Using the ARway SDK, artists can design and create a custom AR world, save it, and reload it into that space quickly and easily. ARway gives Encore the ability to maintain, save, and reload custom environments in one place and sync them across multiple devices.
Watch a video of the ARway SDK in action HERE
With the rise of Web 3.0 and the Metaverse, AR technology is being used in a variety of different sectors and industries, including the music industry, as ARway’s use case with Encore demonstrates. AR offers many benefits to businesses that other software cannot, including product views, enhanced content, immersive experiences, increased audience engagement, and more. Augmented Reality Software Market Size is Expected to Reach $137.14 billion by 2028growing at a CAGR of 57.21% from 2021 to 2028, according to Verified Market Research.1
Nextech AR CEO Evan Gappelberg said, “With ARway, not only do we have a substantial market with the inner AR focus, but there are many other markets that we are monetizing, such as the music industry. Encore is a perfect example of ARway’s adaptability to different industries and types of activations. He continued, “With Encore, we have opened up a whole new market for ARway in the music and entertainment industry, generating new revenue potential for the platform. As we move forward with Web 3.0 and the real-world metaverse, our spatial computing technology will only become more robust and will continue to enter new industries and markets, generating even more revenue potential.
Nextech AR believes ARway will be the first pure-play public space computing company. ARway will begin trading on the Canadian Securities Exchange (CSE) on Wednesday, October 26, 2022 using the ticker symbol: ARWY.
The company has already started the process of listing ARway on the Frankfurt Stock Exchange and the OTC Market and plans to trade on these exchanges within 60 days of its CSE debut. Upon listing, Nextech AR will retain a stake of 13 million shares of ARway and distribute an additional 4 million shares as a stock dividend to Nextech shareholders.
Recent ARway News
Encore is an interactive live music app co-founded by Kid Cudi. Our mission is to help more artists and creators make a living from their music by providing new ways to directly monetize, engage and grow their fan base. Artists can drop new music, interact with fans, and host live shows right from their phone and from anywhere in the world. Encore also enables live music experiences for fans, with opportunities to connect with their favorite musicians and discover new music.
Encore Studio app https://apps.apple.com/us/app/encore-studio-live-music-ar/id160461320
ARway is a no-code spatial computing platform, with an augmented reality indoor wayfinding solution for large multi-purpose venues enabled with visual marker tracking. Users can access a location map to navigate to any point of interest (POI) with step-by-step directions and interact with rich augmented reality experiences and content. ARway only asks end users to scan a QR code with their smartphone to activate it.
London Science Museum – click here to watch
Trend Hunter Future Festival – click here to watch
RC Show 2022 – click here to watch
The ARway platform includes:
Web authoring platform
The web-based creator platform offers “advanced” creative capabilities over the mobile app, including the ability for creators to upload their own OBJ/GLB files and create their own 3D objects. Placing content in a large area using only a mobile app required the user to be physically at the specific location which was not scalable. The web studio allows the user to place and create content remotely and at scale.
With the ARway mobile app, anyone can spatially map their location in minutes using their smartphone and populate it with interactive 3D content, augmented reality wayfinding, audio, text, pictures, etc Nextech AR provides several preloaded 3D objects that creators can leverage to populate their metaverse.
Download the mobile app
Apple iO – click here
Google Play Store – click here
The SDK contains code libraries and API information that enable developers to build their own white label and private label mobile apps on iOs and Android by leveraging ARway’s technology and authoring tools to create orientation and spatial experiences in augmented reality. Creators will be able to develop white label and private label apps and access ARway APIs to create maps using the Web Creator portal. The SDK includes the latest and greatest ARway mobile app.
To learn more about ARway, please follow on social media: TwitterYouTube, Instagram, LinkedIn and Facebook, and visit our website: www.arway.ai.
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 cost-effectively ARitise (transform) vast amounts and varieties of existing assets at scale, making products, people, and places ready for use. Interactive 3D, giving creators at all levels all the essential tools they need. to develop their vision of digital AR in the Metaverse. Our platform-agnostic tools enable brands, educators, students, makers, creators, and technologists to create the most photorealistic, interactive, and immersive 3D assets and digital environments, compose AR experiences, and publish them to any device. canals. With a comprehensive suite of end-to-end AR solutions in 3D commerce, education, events, and industrial manufacturing, Nextech AR is uniquely positioned to serve the needs of the world’s leading brands and all Metaverse contributors .
Nextech funds the development of its AR and Metaverse growth initiatives through its e-commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (“VCM”), Infinitypetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and sale of residential vacuum products, supplies and parts, and small appliances sold on Amazon. These e-commerce platforms serve as an incubator to develop and test Nextech’s cutting-edge AR, AI and machine learning applications to power next-generation e-commerce technology.
To find out more, follow us on TwitterYouTube, Instagram, LinkedIn and Facebook, or visit our website: https://www.Nextechar.com.
The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these 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 is incorporated by reference herein, except as required by applicable securities laws.