Nextech AR Announces Platform and Listing Updates on IPO Spin-Off ARway

By AIT News Desk On Sep 16, 2022

ARway is an AR Wayfinding and Real World Metaverse Platform Set to Disrupt the Indoor Navigation Market

Nextech AR Solutions Corp, a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D model services for ecommerce is pleased to update its shareholders about the upcoming spin-off of ARway, a no-code spatial computing platform for the real-world Metaverse. The ARway solution is set to disrupt indoor navigation with a no-code platform which doesn’t require any CAPEX (like installing indoor positioning beacons or bluetooth) to spatially map indoor spaces, all that is needed is a QR code to activate.

ARway Listing Updates:

The Company has received conditional Canadian Securities Exchange (CSE) listing approval
The approved new Canadian Securities Exchange (CSE) trading symbol: ARWY
Trade date is expected to be in October on the CSE
The Company has begun working on getting dual-listed in the United States on the OTCQB, and Internationally on the Frankfurt Stock Exchange
Tuesday, September 13, 2022 the ARway prospectus mailed to 30,000 Nextech AR shareholders
Annual General Meeting (AGM) scheduled to take place on October 12, 2022
After the AGM meeting, the final hearing to approve the plan of arrangement is scheduled for October 18, 2022 with closing to occur on or about October 19, 2022.

Initially announced in June 2022, the Company is closing in on finalizing the spin-off. The spin-off will result in ARway as a stand alone public company, marking what Nextech AR believes will be the first publicly traded “pure play” no-code spatial computing platform for wayfinding. Nextech AR shareholders of record will receive a total of 4 million new shares in ARway on a pro-rata basis.

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway opens Nextech’s 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.

ARway Platform Updates:

Transition to QR Code from Point Cloud

Nextech AR has also implemented a new technology development; rather than using a point cloud to localize the user and launch the relevant spatial map experience, ARway will now be using QR codes. The change will be effective within 2 weeks, and the decision to transition to QR codes occured after running many test pilots with early adopters and collecting feedback. The change creates a more natural and reliant process and significantly improves the user and creator experience.

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Benefits of Using QR Codes

Accuracy: Greater accuracy as it enables fingerprint pre-defined visual features into the QR codes that will help the user localize in a given area.
Prompt App Launch: QR codes also prompt the app launch if the user doesn’t already have the relevant app downloaded or opened.
Precursor to App-Less Experience: This serves as a precursor to the app less experience the Company is working towards. By the end of Q4, a visitor will be able to launch the real-world metaverse experience without installing an app.
Stability & Speed: QR codes increase the stability and speed of localizing the experience because they can help reliably load the relevant map experience.
User Experience: More natural and seamless user experience as main stream adoption of QR codes is occurring. Everyday consumers have become more used to scanning QR codes to launch restaurant menus, company websites, etc.
Scalability: QR codes also allow for scalability as the Company works through larger venues and multi floor maps. This is important for future customers and venues using ARway technology such as sports stadiums, airports, large warehouses, and more.

Switch to LiDAR

Last month, Nextech AR announced that ARway is now adopting LiDAR technology to create hyper accurate meshes for its metaverse spatial mapping software. This move to LiDAR technology enhances the ability of ARway to create high quality meshes and spatial mapping solutions, setting the stage for ARway’s have a leadership position in the rapidly-growing wayfinding and spatial computing market. LiDAR is a breakthrough technology whose sensors are able to create precise three-dimensional images of the environment, which produces a hyper-accurate model of the environment scanned.

The ARway Suite Includes:

Web Creator Platform

The Web-Based Creator Platform provides ‘advanced’ authoring capabilities compared to the mobile app, including the ability for creators to upload their own OBJ/GLB files, and create their own 3D objects. Placing content in a large area using only mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.

Mobile App

With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse. The platform has a Visual Position System (“VPS”) which Nextech refers to as Mapping and Localization where users can map and enable VPS in any area through the platform. Occlusion, depth sensing and segmentation are also available. Users can share their metaverse with others, creating a new level of immersive interactivity for social, branding, advertising, gaming and more metaverse experiences.

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