TORONTO, O.N, Canada – January 30, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce it has signed a new 3D modeling contract with Global Industrial Company, a titan in the industrial and commercial equipment sector with over seven decades of market leadership. This new contract has significant growth potential, as Global Industrial is an industry leader with 1.7+ million products in 21 industrial and commercial categories including; building supplies, storage and shelving, workbenches and shop desks and more.
The deal with Global Industrial Company not only underscores Nextech3D.ai's growing influence in the 3D modeling arena but also highlights the demand for 3D models in new industrial sectors. 3D models have the potential to transform product visualization beyond traditional Amazon e-commerce by extending its reach into the industrial and commercial categories industry.
Nextech3D.ai is at the forefront of the massive and growing 3D modeling industry, utilizing cutting-edge generative AI technology to create photo-realistic 4K 3D models that cater to the specific needs of major e-commerce companies. Nextech3D.ai will leverage its advanced AI technologies to produce high-quality, 4K resolution 3D models for Global Industrial. Due to a strong ROI on 3D models, the Company has been seeing a global growing demand for immersive and interactive 3D models.
New AI-Powered 3D Model Search Tool
Earlier this month, the Company announced it had gone live with its proprietary AI-Powered 3D model search engine. This advanced search engine integrates AI and computer vision technologies to refine and expedite the process of 3D modeling. Through the application of this unique technology, the Company is poised to enhance and quicken its internal 3D model creation workflow significantly. Furthermore, there are plans to market this search engine externally, potentially leading to substantial increases in revenue and profits.
The Company recently reported a 500% increase in 3D modeling productivity with the AI-powered 3D model search engine. This report was based upon research of Nextech3D.ai’s own internal usage of thousands of searches over several weeks. The 500% increase in productivity is due to an 80% reduction in time it takes to create a 3D model by using the 3D model search engine.
The search engine functions by analyzing an image presented by the user. Utilizing AI, it sifts through Nextech’s comprehensive in-house collection of countless 3D models and components, proposing models that closely resemble the input image. Within moments, 3D artists can select from a variety of models that match the image, allowing them to adjust an existing 3D model into a new, searchable creation. This ongoing generation of new 3D models fosters a positive feedback loop, adding considerable value to the platform. The Company views this innovation as a significant milestone in 3D modeling and anticipates releasing a general-purpose version aimed at setting a new standard in the industry.
About Global Industrial
Global Industrial is a business that specializes in industrial and commercial products. They are known for providing a wide range of products and services to businesses, institutions, and government agencies. Their product offerings typically include material handling equipment, storage and shelving solutions, office furniture, safety equipment, tools, motors, HVAC equipment, and janitorial supplies, among others.
Global Industrial operates primarily through direct marketing and online sales, catering to the needs of both small businesses and large enterprises. They are recognized for their extensive online catalog and the ability to deliver a broad array of industrial and commercial products efficiently. Learn more https://www.globalindustrial.com/aboutUs
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Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), 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.
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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.