- Nextech AR signed a definitive agreement to acquire UK-based spatial computing company ARWAY Ltd. in a deal that allows it to become a metaverse company
- Nextech announced it had begun integrating HoloX into Microsoft’s HoloLens2, with the integration expected to enable users to navigate the application through eye-tracking and hand gestures
- The company also announced Ryerson University had ordered an additional 35 AR labs for its biology, chemistry, and biochemistry departments
- Nextech is intent on creating shareholder value by integrating the amazing technologies it has created into a single platform that revolves around the metaverse
Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF), a company bridging physical and digital worlds through its augmented reality (“AR”) platforms, believes that utilizing live streaming human holograms will result in an explosion of new use cases, as the holograms are destined to play a significant role in global entertainment, commerce, and learning (https://ibn.fm/EQwGH). Given the recent developments at Nextech, this belief is surely becoming a reality.
Nextech announced August 10 it had signed a definitive agreement under which it will acquire UK-based spatial computing company ARWAY Ltd. (“ARway”) for approximately $1 million in an all-stock transaction, as well as hire the key founders Baran Korkmaz and Nikhil Sawlani. The acquisition provides Nextech with the technology, in the form of a spatial mapping platform, that allows it to become a metaverse company (https://ibn.fm/ZfcFy).
ARway is a Unity-based spatial mapping platform that uses AI to scan and recognize surroundings for hyper-accurate location-based 3D mapping, providing users with an Augmented Reality Software Kit (“SDK”) to frame the digital world in a few minutes. This 3D mapping technology and its AR cloud, combined with Nextech’s scalable solutions for HoloX Human Holograms, AR advertising, AR portals, and AR e-commerce, position NTAR as a leader in the race to the metaverse.
In describing the concept of the metaverse during an interview published on the company’s YouTube channel (https://ibn.fm/tIHfM), Nextech CEO Evan Gappelberg likened it to a more experiential AR cloud, further noting that it constitutes persistent augmented reality (“AR”) experiences. “When you think about the top of the mountain in the world of AR, the metaverse is the top of the mountain. There’s really nothing above the metaverse; it is the highest activity or business opportunity that we can actually pursue,” he stated.
Facebook (NASDAQ: FB), Epic Games, Microsoft (NASDAQ: MSFT), and others have all identified the metaverse as the future of the internet and computing itself. However, according to Gappelberg, the metaverse is nothing exciting without the content. This is why the company sees it as an opportunity, leading to the focus on creating mini-metaverses – Nextech aims to populate the metaverse with content such as products and holograms (through HoloX).
“We think that the mini-metaverse business use case is here to stay, and the implications for future growth are significant. Nextech’s mini-metaverse offering will be available to brands and companies that want to create mini-multiverses based on a geolocation like museums, corporate headquarters, theme parks, sports stadium, university campuses, and more,” explained Gappelberg.
Further, as an integral part of Nextech’s mini-metaverse vision, the HoloX, its mixed reality (“MR”) human hologram solution expected to launch in Q3 2021, recently received a major boost when the company announced August 5 that it had begun integrating HoloX into Microsoft’s HoloLens2. Through this implementation, users will be able to navigate the application through eye-tracking and hand gestures thanks to supported gesture controls across HoloX’s UI and UX (https://ibn.fm/nkl71).
“We are starting with Microsoft as they are clearly targeting HoloLens at corporations and the government, places where we already have customer relationships, and we see very specific use cases for our holograms,” said Gappelberg.
The HoloLens initiative is being designed to provide a more realistic feeling of human hologram presence, beyond what other in-market solutions are capable of currently. Nextech sees the project as an important building block that sets it up for future success.
Nextech also announced it had received from Ryerson University, a globally recognized leader in higher education with over 46,000 students, an order for an additional 35 AR labs for its biology, chemistry, and biochemistry departments. Once these labs are complete, the institution will have one of the largest known AR immersive learning programs globally (https://ibn.fm/4NT8V).
“These new labs are in addition to the fifty labs developed for the 2020/2021 school year and the further AR labs produced through the RALE AR Lab Builder Program, a Government of Ontario Initiative in Partnership with Ryerson University and Nextech AR and will be available province-wide to institutions of higher education in 2022,” reads the press release.
Nextech is availing AR to education institutions through EdTechX, a Microsoft Azure-based platform that enables education institutions to add valuable, immersive digital experiences to learning.
With EdTechX and HoloX being just some of several amazing technologies Nextech has created so far, the company, which aims to become a leader in the AR space, believes that integrating such technologies in one unified metaverse-centric platform will create tremendous value for its shareholders.
For more information, visit the company’s website at www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF
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