NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) debuted its 3D/AR Ad Network, an end-to-end solution for advertisers, brands, developers and publishers, the company announced in a news release.
It includes the creation of three-dimensional assets, online 3D/augmented reality display ads, WebAR 3D product views, and education and training, all working together in a frictionless and seamless 3D virtual environment. NexTech's Ad Network offerings work on all browsers and devices, the company stated.
According to NexTech, this network should result in increased returns on investment for advertisers and, thus, drive significant growth for NexTech this year. In the release, NexTech cited two IndustryARC statistics. One, the global online advertising market was about $240 billion in 2018. Two, it is estimated to experience, between 2019 and 2025, an estimated compound annual growth rate of 37–40%.
"In recent testing, 3D ads outperformed traditional static ads dramatically, showing a 633% increase in sign-up conversions and a 376% increase in click-through rates," the release stated.
"With our 3D/AR ad network, NexTech is the first AR company to offer an end-to-end solution for both advertisers and brands. NexTech's end-to-end solution includes the creation of 3-D assets, online 3D/AR display ads, WebAR 3-D product views, and education and training, ultimately leading to a major uptick in ROI, all in a frictionless and seamless 3-D virtual environment," CEO Evan Gappelberg said in the release.
"We believe NexTech's first mover advantage in 3D ads can help us capture market share in the $240 billion online advertising market, where global brands constantly seek an edge in this highly competitive space," Gappelberg added.
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.
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 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.