Nextech3D.ai Signs
New 3D Modeling Contract with Enterprise Giant Global Industrial
Company
TORONTO, O.N,
Canada -- January 30, 2024 -- InvestorsHub NewsWire
-- 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
Sign
up for Investor News and Info - Click
Here
About
Nextech3D.ai
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.
To learn more, please
follow us on Twitter, YouTube, Instagram, LinkedIn,
and Facebook,
or visit our website: https://www.Nextechar.com.
For
further information, please contact:
Investor Relations
Contact
Julia Viola
investor.relations@nextechar.com
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.