Nextech3D.ai Signs 3D Modeling Expansion Contract With Vornado Air LLC To Bring 3D Models Onto The Prime Marketplace
Martech Outlook | Thursday, May 11, 2023
Nextech3D.ai is a Preferred 3D Model Supplier for Amazon
Nextech3D.ai Now Approved for Amazon Exclusive “Early Access” Program
The Company is Seeing a Global Surge in the 3D Modeling Business
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TORONTO, O.N, Canada - Nextech3D.AI (formally “Nextech AR Solutions Corp'' or the “Company”) (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 Company has signed an expansion 3D modeling contract with Vornado Air LLC. In Q3 2022, the Company attained approval as a preferred 3D model supplier for Amazon and was granted early access to introduce customers' 3D models into the Amazon marketplace through an exclusive “early access” program. Nextech3D.ai was among a select few companies chosen by Amazon and granted “early access” based on its distinguished expertise in the field of 3D modeling.
Nextech3D.ai CEO Evan Gappelberg commented, "Our position as a preferred 3D model supplier for Amazon, which we achieved in Q32022 was a watershed moment for Nextech3D.ai and is a testament to the quality and innovation of our AI technology. With today's news, we announced that we have achieved yet another milestone by being granted “early access” to Amazon’s marketplace. This means we can now start to bring our customers over the wall and onto the Amazon platform. Today we are bringing Vornado Fans, one of my favorite fan companies, which is known all over the world over for its innovative fan designs.”
He continued, “Being granted this “early access” has significant upside for our business as it positions us as one of a very small number of companies that can bring e-commerce customers onto the Amazon platform. We are excited about the significant revenue opportunity presented by Amazon's upcoming platform expansion for 3D models, and we believe Nextech is perfectly aligned to capitalize on this multi-decade, $100 billion mega-trend for 3D models in e-commerce. We remain committed to driving innovation in the industry and delivering exceptional value to our clients and shareholders, as we continue to position ourselves as the dominant 3D model supplier in this rapidly growing market."
In a recent article, "5 Technology Predictions for 2023 and Beyond", Werner Hans Peter Vogels made a bold statement about 3D models and the future of e-commerce. Vogels is the Chief Technology Officer (CTO) and Vice President of Amazon, in charge of driving technology innovation within the company. “Static 2D product images on the internet will become a thing of the past, replaced by 3D models that you can pick up, rotate, and place in your living room as seamlessly as you can see them in a web browser today.” - Amazon CTO, Werner Hans Peter Vogels
With Nextech’s breakthrough generative-AI technology, the Company believes it has revolutionized the 3D modeling industry, and gained a major competitive edge, solidifying its leadership position in the global 3D model space for e-commerce. Nextech3D.ai is making it possible to create photo-realistic 3D models as digital replicas of real-world products at scale for large enterprise customers in the global $5.5 trillion dollar e-commerce market. The Company believes that a total addressable market (TAM) of $100 billion exists within the e-commerce industry for 3D models and is available for capture.
Nextech's position as a preferred supplier for Amazon provides a significant revenue opportunity. Amazon currently has over 10 million merchants and over 300 million product SKUs, highlighting the potential for Nextech to further establish its position as a top 3D model supplier.
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