Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced it has partnered with LivePerson (NASDAQ:LPSN), a global leader in conversational commerce solutions, to integrate augmented reality (AR) for enhanced product views and 3D advertising into LivePerson’s AI-powered conversational commerce platform.
According to the release, “The partnership offers powerful new retail capabilities for showcasing products and shopping on messaging channels, including SMS, Facebook Messenger, WhatsApp, RCS, and Apple Business Chat. This one-of-a-kind, transformative technology gives retailers the power to convert shoppers into buyers, reduce returns, and build brand loyalty by measuring customer responses to products in real-time.”
Nextech Ar Solutions Corp (OTCMKTS:NEXCF) bills itself as a company that engages in the acquisition and development of augmented reality (AR) technology.
The company offers ARitize eCommerce, the browser-based and Web enabled AR shopping platform; ARitize Retail Showroom that provides choice, convenience, ratings, and reviews with the benefits of being in-store; ARitize App that allows to sell, learn, communicate, and share product, service, or experience through AR; and ARitize University, an AR learning system.
It also provides ARitize Studios, which enables customers to beam in to 3D volumetric space as a hologram, and create an interactive yet intimate connection with audiences from all over the world; and Hoot 3D eCommerce solution that shows 3D and 360 degree product photography.
In addition, the company sells vacuum cleaners and parts through retail stores and online sales channels; and pet supplements through online sales channels. NexTech AR Solutions Corp. was incorporated in 2018 and is based in Vancouver, Canada.
According to company materials, “NexTech is a leader in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded “pure-play” AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitize™. NexTech has an exclusive license to a portfolio of patents 7,054,831, 7,266,509 and patent-pending applications 15351508, 62457136, 62559487, related to interactive gaming, interactive advertising, and augmented reality (“AR”) technology. The company is pursuing four multi-billion dollar verticals in AR.”
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As noted above, NEXCF just announced it has partnered with LivePerson (NASDAQ:LPSN), a global leader in conversational commerce solutions, to integrate augmented reality (AR) for enhanced product views and 3D advertising into LivePerson’s AI-powered conversational commerce platform.
The chart shows just shy of 170% during the past month in terms of shareholder gains in the company. In addition, the stock has seen interest climb, with an increase in recent trading volume of above 310% above its longer-run average levels.
“We are very excited and fortunate to be partnering with LivePerson, a pioneer and global leader in conversational commerce with over 18,000 customers,” said Evan Gappelberg, CEO of NexTech. “AR and conversational commerce are a natural fit, and by joining forces we are creating what will be a transformative and disruptive new technology for the retail industry. Combining LivePerson’s conversational messaging with our augmented reality is truly a giant step forward for NexTech and the emerging AR industry as a whole.”
At this time, carrying a capital value in the market of $98.7M, NEXCF has a store ($1.4M) of cash on the books, which is balanced by about $1M in total current liabilities. NEXCF is pulling in trailing 12-month revenues of $3.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 6612.2%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $NEXCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $NEXCF, either long or short, and we have not been compensated for this article.