Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: NTAR; NEXCF

E-Commerce Tech Firm Joins Consortium Developing 3D Standards
News Update

Share on Stocktwits

Source:

The ultimate goal is consistent presentation across all platforms and devices.

NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) announced in a news release that at the end of April 2019 it joined Khronos, an exploratory group aiming to develop standards and guidelines for three-dimensional (3D) e-commerce as it is on the cusp of burgeoning.

Khronos will "research the creation of standards and guidelines to produce and distribute real-time 3D representations of products so they can be experienced realistically and consistently across all platforms and devices, such as mobile, web and augmented reality (AR) or virtual reality solutions," the released noted.

NexTech CEO Evan Gappelberg commented in the release, "As 3D visualization technologies become more prevalent, it's crucial to be able to present these experiences consistently across multiple consumer endpoints like e-commerce websites, apps, in social feeds and in ad units."

The company pointed out that by 2020, an estimated 50% of retailers plan to launch AR and VR 3D technology on their e-commerce sites, according to Gartner research. More than 100 million people will shop online using AR technology. This sector is expected to grow rapidly as 5G becomes more widespread.

In Khronos, NexTech joins other leading technology companies, retailers and manufacturers such as Google, Microsoft, Facebook, Adobe, Deloitte Consulting, NVidia, Pinterest, Qualcomm, Samsung and Shopify.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with NexTech AR. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.





Want to read more about Special Situations and Technology investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe