TORONTO, Dec. 13, 2023 (GLOBE NEWSWIRE) — via IBN — Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce the grant of a patent by USPTO for 3D model generation from Computer Aided Design (CAD) data. Receiving this first patent, as part of the Company’s previously announced portfolio of patents filed in 2022, reinforces and validates Nextech3D.ai’s commitment to increasing shareholder value by investing in 3D technology and innovating with AI-powered solutions.
Link to the patent online at USPTO site: patent # 11823328
Nextech3D.ai CEO Evan Gappelberg commented, “The timing of this patent approval could not be better! In 2023, we are witnessing a paradigm shift in technology with AI, AR and 3D model creation becoming the next generation of foundational technology that shapes our future.” He continued, “With the approval of this pivotal AI patent we are perfectly positioned for this future and we are excited to deliver today’s tangible results and long lasting value for our loyal shareholders. I’m extremely excited about our future and expect to see more patents in our portfolio approved.”
This patent enables Nextech3D.ai to increasingly capture a larger share of the rapidly growing 3D model creation business. There is growing demand for 3D product models for real-life, with increasing adoption of virtual reality with the META Quest and augmented reality with Apple’s eagerly anticipated Vision Pro, which uses 3D models to display objects to users. Similarly, websites and mobile phones use 3D models to display products on e-commerce websites, which enables users to get a better sense of what the product looks like from all angles and perspectives.
Up until now, generating a 3D model was a time consuming process and required human intervention. However with Nextech3D.ai’s patented technology, if a user has a CAD model of the product they can easily create a 3D model of the product and texture it in just a few minutes, which increases productivity and reduces costs thus giving Nextech3D.ai a competitive advantage.
Nextech3D.ai has already been using this patented technology implemented in the Company’s Toggle3D product. In the Toggle3D platform, users as well as Nextech3D.ai itself can leverage this patented technology to convert CAD files into 3D designs and textures.
This patent approval recognizes Nextech3D.ai’s technology capabilities as the Company is leading towards the future with AI technologies and innovation. Receiving this patent reinforces Nextech3D.ai’s commitment to advancing 3D technology through innovation and AI-powered solutions.
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About Nextech3D.ai
Nextech3D.ai or the “Company,” (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), 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.
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For further information, please contact:
Investor Relations Contact
Julia Viola
[email protected]
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.
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