Nextech AR Solution Corp, a metaverse company focused on augmented reality (AR) services, announced on Thursday it had upgraded its Map D platform with key new features.
Users can purchase attendee tickets and register using the platform, which also offers enhanced scaling for spatial mapping capabilities for events.
Jeremy Minnick, Lead Developer for Map D, said that the new platform had allowed users to “sell millions of dollars in exhibitor booth space and register attendees for thousands of events”
He continued, stating,
“This major platform upgrade for the first time allows us to provide a complete event management solution including tools that event managers can use to capture every opportunity for revenue and truly manage all aspects of an event within a single platform”
Nextech AR’s Map D technology debuted via a 365 Marketplace demo for Restaurants Canada at the RC Show 2022. The event is the country’s top hospitality event and took place last May.
The recent addition to the platform provides a blend of virtual event spaces and global marketplaces for up to 5,000 profiles across over 30,000 members.
365 Marketplace hopes to leverage Nextech AR’s 3D technologies to showcase products for clients, allowing the foodservice industry to develop its online presence for global audiences.
According to the Vancouver, Canada-based firm, the online ticketing marketplace is set to become profitable and could reach 94.92 billion USD by 2027 and a compound annual growth rate of 7.52 percent from 2022 to 2027, it said, citing figures from Report Linker.
Evan Gappelberg, Chief Executive of Nextech AR, added that Map D had “seen great returns” from current clients in the association space and strong growth from new clients and industries following the “resurgence of in-person events post covid.”
He continued that adding attendee ticket sales to the Map D platform was both a “great development for our clients” as well as added shareholder value due to transaction fees, offering an unprecedented “new and virtually unlimited source of revenue.”
“Nextech is also seeing positive early results in its ability for Map D to provide accurate trade show floor maps to ARitize Maps – leveraging two of our technologies to create something new. This is potentially very valuable as it will allow us to produce spatial maps at scale… which I haven’t seen anywhere else”
Lane Gibbs, Map D Director of Sales and Operations called the ticket sales feature a “game changer” for Nextech AR’s Map D platform.
“Not only will ticket sales make a lot of our existing clients happy, Map D can also now serve as a single solution for exhibitor, sponsor, and attendee sales in a way that I think will make a lot of new clients happy, too. This should open the door for us to serve even more industries”
The news comes as the Metaverse firm joined the Augmented World Expo (AWE) 2022 for a discussion panel on developing 3D products with Paul Duffy, Nextech AR President, and members from 3D commerce platform VNTANA, Snap Inc, immersive operating system (OS) firm Hexa, and artificial intelligence (AI)-backed photorealistic image creator ALL3D.
A message from Nextech AR President, @PaulDuffy_Tech! He will speak alongside industry experts from @VNTANAlive, @Snap, @hexa3d, & @all3D_ai at AWE USA 2022 on the panel “Creating 3D Products for Every Stage of the Lifecycle”.
— Nextech AR Solutions (@Nextech_AR) June 1, 2022
The spatial computing firm also inked a massive deal for over 1,900 3D models for eCommerce firms over the past month, leading to a major increase in its potential revenues and use cases.
The company also expanded via a deal with Genuine Parts Company to provide 3D modelling and decorating assets, such as automotive parts and components, via the firm’s ARitize AR studio.