Nextech3D.ai Signs 3D Modeling Expansion Contract With Vornado Air LLC To Bring 3D Models Onto The Prime Marketplace

May 11, 2023 at 07:30 AM EDT

Nextech3D.ai is a Preferred 3D Model Supplier for Amazon

Nextech3D.ai Now Approved for Amazon Exclusive "Early Access" Program

The Company is Seeing a Global Surge in the 3D Modeling Business

TORONTO, ON / ACCESSWIRE / May 11, 2023 / Nextech3D.AI (formally "Nextech AR Solutions Corp'' or the "Company") (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce the Company has signed an expansion 3D modeling contract with Vornado Air LLC. In Q3 2022, the Company attained approval as a preferred 3D model supplier for Amazon and was granted early access to introduce customers' 3D models into the Amazon marketplace through an exclusive "early access" program. Nextech3D.ai was among a select few companies chosen by Amazon and granted "early access" based on its distinguished expertise in the field of 3D modeling.

Nextech3D.ai CEO Evan Gappelberg commented, "Our position as a preferred 3D model supplier for Amazon, which we achieved in Q32022 was a watershed moment for Nextech3D.ai and is a testament to the quality and innovation of our AI technology. With today's news, we announced that we have achieved yet another milestone by being granted "early access" to Amazon's marketplace. This means we can now start to bring our customers over the wall and onto the Amazon platform. Today we are bringing Vornado Fans, one of my favorite fan companies, which is known all over the world over for its innovative fan designs."

He continued, "Being granted this "early access" has significant upside for our business as it positions us as one of a very small number of companies that can bring e-commerce customers onto the Amazon platform. We are excited about the significant revenue opportunity presented by Amazon's upcoming platform expansion for 3D models, and we believe Nextech is perfectly aligned to capitalize on this multi-decade, $100 billion mega-trend for 3D models in e-commerce. We remain committed to driving innovation in the industry and delivering exceptional value to our clients and shareholders, as we continue to position ourselves as the dominant 3D model supplier in this rapidly growing market."

In a recent article, "5 Technology Predictions for 2023 and Beyond", Werner Hans Peter Vogels made a bold statement about 3D models and the future of e-commerce. Vogels is the Chief Technology Officer (CTO) and Vice President of Amazon, in charge of driving technology innovation within the company. "Static 2D product images on the internet will become a thing of the past, replaced by 3D models that you can pick up, rotate, and place in your living room as seamlessly as you can see them in a web browser today." - Amazon CTO, Werner Hans Peter Vogels

With Nextech's breakthrough generative-AI technology, the Company believes it has revolutionized the 3D modeling industry, and gained a major competitive edge, solidifying its leadership position in the global 3D model space for e-commerce. Nextech3D.ai is making it possible to create photo-realistic 3D models as digital replicas of real-world products at scale for large enterprise customers in the global $5.5 trillion dollar e-commerce market. The Company believes that a total addressable market (TAM) of $100 billion exists within the e-commerce industry for 3D models and is available for capture.

Nextech's position as a preferred supplier for Amazon provides a significant revenue opportunity. Amazon currently has over 10 million merchants and over 300 million product SKUs, highlighting the potential for Nextech to further establish its position as a top 3D model supplier.

Try it yourself - Existing Vornado 3D product Models on Amazon Website
Open the link on your phone, click the 3D product model to spin and rotate. View it in your space with augmented reality.

Vornado Whole Vortex Heater
https://www.amazon.com/Vornado-Whole-Vortex-Heater-Black/dp/B00MB4BQ0G

Vornado Velocity Personal Space Heater:
https://www.amazon.com/Vornado-Velocity-Humidifier-Notification-Capacity/dp/B08B44MWW8

About Vornado
Vornado Air LLC is a leading American company that specializes in manufacturing and marketing air circulators, air purifiers, heaters, and humidifiers. Founded in 1989, Vornado has been dedicated to improving indoor air quality through its innovative and high-quality products that provide efficient and effective air circulation, filtration, heating, and humidification.Vornado's commitment to providing quality products has made it a well-respected brand in the air quality industry and a go-to for those seeking to improve their indoor air quality. Learn more: https://www.vornado.com/home

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About Nextech3D.ai
(formally "Nextech AR Solutions Corp" or the "Company") (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2 is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The Company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.

On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.

On December 14, 2022 Nextech announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.

To learn more about ARway, visit https://www.arway.ai/

For further information, please contact:

Investor Relations Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201

Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)

Forward-looking Statements
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.

SOURCE: Nextech3D.ai

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