Mr. Evan Gappelberg reports

NEXTECH3D.AI SIGNS ENTERPRISE RENEWAL AND EXPANSION CONTRACT WITH MAJOR ECOMMERCE BRAND FOR 3000 3D MODELS

Nextech AR Solutions Corp. has signed a renewal and expansion 3-D modelling deal with an enterprise customer. With Nextech's breakthrough generative artificial intelligence technology, the company believes it has revolutionized the 3-D modelling industry, and gained a major competitive edge, solidifying its leadership position in the global 3-D model space for e-commerce. Nextech is making it possible to create photorealistic 3-D models as digital replicas of real-world products at scale for large enterprise customers in the global $5.5-trillion e-commerce market.

The client operates in various industries such as retail, shopping malls, entertainment and real estate and is a major player in the Middle East, North Africa and Central Asia region (MENA). The first contract is for a 12-month extension to host thousands of 3-D models that Nextech created for the customer last year. The second contract is to create an additional 550 3-D product models. Both contracts are worth approximately $150,000 annually.

Nextech chief executive officer Evan Gappelberg commented: "We are gratified to receive this renewal contract from our customer, and excited as it confirms the enterprise value and strong ROI [return on investment] that we provide to the massive global e-commerce ecosystem which is now pivoting from 2-D photos to 3-D models. We believe that we are just at the beginning of a decade-long megatrend that is worth $100-billion. Today's news is just one of what we believe to be many enterprise deals and yet another building block for our company. In 2023, we are very focused on capturing market share within the Amazon marketplace and becoming the dominant 3-D model supplier for the global e-commerce industry."

A major contributor to Nextech's 3-D modelling success and ability to meet market demand is its generative artificial intelligence (AI). In March, the company filed a provisional patent titled "Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning." This patent builds on the previous patent filed in November, 2022, "Generating Three-Dimensional Models by Part," for creating complex 3-D models by parts.

In February, Nextech announced a major generative artificial intelligence (AI) breakthrough in 3-D model texture creation. The breakthrough enables the company to recreate high-quality 4K textures at scale from just small digital swatches in just seconds versus hours of manual labour, representing a 720 times increase in production speed.

Last week, 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 is estimated to be worth $100-billion over the next decade.

In the text-to-3-D Material pipeline, users can input a text prompt into the AI generator, and the system creates multiple image variations of that prompt. The generated images are then layered with texture maps to create a 3-D material. Users can add descriptive words to their original text prompt to further tweak the texture to their desired state. This feature provides users with a high degree of customization, allowing them to create unique textures that are tailored to their needs.

The groundbreaking AI technology underpinning these technology breakthroughs and patents places the company in a leadership position in the 3-D modelling for e-commerce industry.

About Nextech AR Solutions Corp.

Nextech AR Solutions is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3-D experiences for the metaverse. Its main businesses are creating 3-D WebAR photorealistic models for the prime e-commerce marketplace as well as many other on-line 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 spinout.

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