ARway is an AR Wayfinding and Real World Metaverse Platform Set to Disrupt the Indoor Navigation Market
TORONTO, O.N, Canada – September 16, 2022 - Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D model services for ecommerce is pleased to update its shareholders about the upcoming spin-off of ARway, a no-code spatial computing platform for the real-world metaverse. The ARway solution is set to disrupt indoor navigation with a no-code platform which doesn’t require any CAPEX (like installing indoor positioning beacons or bluetooth) to spatially map indoor spaces, all that is needed is a QR code to activate.
ARway Listing Updates:
- The Company has received conditional Canadian Securities Exchange (CSE) listing approval
- The approved new Canadian Securities Exchange (CSE) trading symbol: ARWY
- Trade date is expected to be in October on the CSE
- The Company has begun working on getting dual-listed in the United States on the OTCQB, and Internationally on the Frankfurt Stock Exchange
- Tuesday, September 13, 2022 the ARway prospectus mailed to 30,000 Nextech AR shareholders
- Annual General Meeting (AGM) scheduled to take place on October 12, 2022
- After the AGM meeting, the final hearing to approve the plan of arrangement is scheduled for October 18, 2022 with closing to occur on or about October 19, 2022.
Initially announced in June 2022, the Company is closing in on finalizing the spin-off. The spin-off will result in ARway as a stand alone public company, marking what Nextech AR believes will be the first publicly traded “pure play” no-code spatial computing platform for wayfinding. Nextech AR shareholders of record will receive a total of 4 million new shares in ARway on a pro-rata basis.
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 opens Nextech’s 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.
ARway Platform Updates:
Transition to QR Code from Point Cloud
Nextech AR has also implemented a new technology development; rather than using a point cloud to localize the user and launch the relevant spatial map experience, ARway will now be using QR codes. The change will be effective within 2 weeks, and the decision to transition to QR codes occured after running many test pilots with early adopters and collecting feedback. The change creates a more natural and reliant process and significantly improves the user and creator experience.
Benefits of Using QR Codes
- Accuracy: Greater accuracy as it enables fingerprint pre-defined visual features into the QR codes that will help the user localize in a given area.
- Prompt App Launch: QR codes also prompt the app launch if the user doesn’t already have the relevant app downloaded or opened.
- Precursor to App-Less Experience: This serves as a precursor to the app less experience the Company is working towards. By the end of Q4, a visitor will be able to launch the real-world metaverse experience without installing an app.
- Stability & Speed: QR codes increase the stability and speed of localizing the experience because they can help reliably load the relevant map experience.
- User Experience: More natural and seamless user experience as main stream adoption of QR codes is occurring. Everyday consumers have become more used to scanning QR codes to launch restaurant menus, company websites, etc.
- Scalability: QR codes also allow for scalability as the Company works through larger venues and multi floor maps. This is important for future customers and venues using ARway technology such as sports stadiums, airports, large warehouses, and more.
Switch to LiDAR
Last month, Nextech AR announced that ARway is now adopting LiDAR technology to create hyper accurate meshes for its metaverse spatial mapping software. This move to LiDAR technology enhances the ability of ARway to create high quality meshes and spatial mapping solutions, setting the stage for ARway’s have a leadership position in the rapidly-growing wayfinding and spatial computing market. LiDAR is a breakthrough technology whose sensors are able to create precise three-dimensional images of the environment, which produces a hyper-accurate model of the environment scanned.
Watch a video of a LiDAR scan in the ARway Web Studio - click here
The ARway Suite Includes:
Web Creator Platform
The Web-Based Creator Platform provides 'advanced' authoring capabilities compared to 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 mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.
With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse. The platform has a Visual Position System (“VPS”) which Nextech refers to as Mapping and Localization where users can map and enable VPS in any area through the platform. Occlusion, depth sensing and segmentation are also available. Users can share their metaverse with others, creating a new level of immersive interactivity for social, branding, advertising, gaming and more metaverse experiences.
The Software Development Kit contains code libraries and API information that allows developers to build their own mobile apps on both iOs and Android leveraging ARway technology. Creators will be able to develop white label and private label apps and access ARway APIs to author maps using the Web Creator Portal. The SDK features the latest and greatest of the ARway mobile app. To request early access to the ARwayKit SDK - click here
For further information, please contact:
Investor Relations Contact
866-ARITIZE (274-8493) Ext 7201
Nextech AR Solutions Corp.
CEO and Director
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 affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.
Nextech historically has funded 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”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech's leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology. Currently the company is divesting itself of these legacy businesses as its Metaverse portfolio of technology is now rapidly growing.
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.