NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) plans to launch its standalone CaptureAR app in early Q1/20, it announced in a news release.
Anyone with the app and a smartphone can create photo realistic, three-dimensional (3D) models of 2D objects. No special skills or training are needed.
"CaptureAR is a pivotal new technology which will greatly accelerate the augmented reality global marketplace," CEO Evan Gappelberg said in the release. "Now, with our CaptureAR app we are putting the power to create photo-realistic 3-D models into the hands of millions of smartphone users worldwide. We imagine a world where millions of 3-D models are created using our app and then seamlessly uploaded onto our ARitize e-commerce platform where we charge $40/month per product."
"What used to take one of our experienced 3D modeler days of work can now be done in a matter of minutes and with the same resolution and image fidelity as if the 3D model was designed from scratch," Gappelberg stated. "It's pretty mind blowing!"
With the app, the user will receive one free 3D scan but will pay for additional scans as well as a subscription fee, $40 a month per product, to NexTech to host the asset(s) on its ARitize e-commerce platform.
The combination of costs could add "millions to the company's bottom line," the release noted, and enhance revenue from NexTech's other existing and upcoming offerings. Further, "the launch of this app will move the adoption of AR technology into overdrive, bringing NexTech's augmented reality e-commerce and advertising network with it."
Read what other experts are saying about:
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 Solutions. 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.
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 interview, 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.