NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE:
N29), an emerging leader in augmented reality for eCommerce, AR
learning applications, and AR-enhanced video conferencing and
virtual events is pleased to announce that with the help of Fastly
(NYSE: FSLY), a global edge cloud platform, it achieved a
breakthrough in enterprise video security. Its implementation of
JWT with Fastly brings token authentication to the edge greatly
enhancing security and performance.
Scott Bishop of Fastly comments, “We were happy
to work with NexTech AR Inferno’s team in bringing their JWT
authentication to the edge. Our platform’s design allows us to
compute at the edge and authenticating JWT at this stage is exactly
the kind of use case we envisioned. Computing these at the edge
enhances both Inferno ARs security as well as performance. What we
have achieved with InfernoAR is fantastic”.
InfernoAR- CTO Mark Pace comments. “We are
always looking at ways to enhance security. That we were able to
push authentication to the edge to not only increase security, but
also performance is a huge win. With the assistance of Fastly we
were able to edge compute JWT putting the first line of defense as
close to the user as possible.”
Evan Gappelberg, Chief Executive Officer,
NexTech AR noted “InfernoAR is a category killer product for
NexTech” He continues "InfernoAR, is the world's most advanced SaaS
AR Video Conferencing and Video Learning Experience Platform for
Events, that is loaded with features including; Interactive Video,
Artificial Intelligence and Augmented Reality all in one
super-secure platform allowing enterprises the ability to create
the world’s most engaging virtual event management and learning
experiences with the added knowledge that their data is secure.
With automated closed captions and translations to over 64
languages InfernoAR is in a class by itself."
As Fastly continues to offer more edge compute
services, Pace sees InfernoAR moving additional features to the
edge. Functions such as playlist rewriting, used to service iOS
devices, can be moved to the edge further enhancing performance.
“I’m looking forward to moving more of our basic services to the
edge to remove load from the core to add more reliability and
reduce latency as we move all of these closer to the user.”
Security is a core feature of InfernoAR – the
platform services many Fortune 500 businesses. Token authentication
allows the CDNs to reject serving videos to unauthorized users, by
taking the JWT authentication to the edge security is pushed closer
to the user and load is taken off the core application.
About Fastly
Fastly helps people stay better connected with
the things they love. Fastly’s edge cloud platform enables
customers to create great digital experiences quickly, securely,
and reliably by processing, serving, and securing our customers’
applications as close to their end-users as possible — at the edge
of the Internet. The platform is designed to take advantage of the
modern internet, to be programmable, and to support agile software
development. Fastly’s customers include many of the world’s most
prominent companies, including Vimeo, Pinterest, The New York
Times, and GitHub.
About InfernoAR
InfernoAR, supports clients that require
integration with enterprise systems, custom workflow, cognitive
search and discovery, interactive features and secure multi-CDN
streaming in front of and behind the firewall. InfernoAR has been
providing top products and service in the video streaming space for
10+ years.
Recent Company Highlights in 2020:
- June 22, 2020: Signed a one year contract to
provide its InfernoAR Virtual Events video conferencing platform
services to Real Asset Media. The initial contract value is for
$135,000 with the potential for substantial additional revenue as
augmented reality use cases emerge.
- June 19, 2020: NexTech closed a private
placement of 1,528,036 units priced at the market price of $2.10
per unit (the “Units”) for gross proceeds of $3,208,875 (the
“Offering”). This financing provides the company with a healthy
cash and inventory position of over $7.5million - it’s highest
ever.
- June 18, 2020: Company announces that it has
signed a partner supplier agreement with BDA, LLC. BDA Sports will
be using the InfernoAR virtual event platform for their signature
annual Think Tank 2020 program for teams in NHL, NBA, MLB, and
NFL.
- June 10, 2020: Company signed a partner
agreement and contract to provide its InfernoAR Virtual Events
platform services to Skybridge World Dubai clients. Skybridge is a
leading events, exhibition and marketing solutions provider to
global corporations whose clients include: Emirates Glass, IBM,
Lilly, Henkel, Amgen and many others. NexTech and Skybridge have
already solidified their partnership and signed up their first
customer, Bohringer Ingelheim.
- June 4, 2020: The company launched its new
ARitize360 app now live and available for a FREE download on both
iOS and Android. The app's 3D scan technology will add to the
revenue-generating power of its AR eCommerce solution and its
recently launched 3D/AR advertising platform.
- June 3, 2020: The company achieved record
revenue and gross profit for the month of May 2020. Both revenue
and gross profit showed dramatic increases in May. Notably,
compared to May 2019, the company’s revenue increased 169% to
$1,300,000 while gross profit grew 290% to $800,000 representing
the highest revenue and gross profit ever achieved in a single
month.
- June 1, 2020: CEO Evan Gappelberg purchased
100,000 shares. It was reported that on 5/5/2020 he purchased
929,885 common shares of NexTech common stock, this is his fourth
buy for the year 2020.
- May 25, 2020: Signed a contract to supply its
Augmented Reality Solutions to a $30 billion market capital,
publicly-traded global technology company.
- May 22, 2020: The company announced very
positive results for its recently launched 3D/AR Ad Network which
went live on February 4th 2020. Using the company’s 3D/AR ads
resulted in a 300% increase in sales conversions, a 32% increase in
click-through-rate (CTR) and a 23% lower cost per click than
traditional 2D ads.
- May 21, 2020: InfernoAR Virtual Events
platform chosen to supply a $13 billion capital, publicly-traded
global insurance company, for their global leadership two day
summit starting June 6th.
- May 19, 2020: Inferno AR integration with
Cvent Solutions optimizing the entire InfernoAR event management
value chain. Integration with CVENT will broaden the utility and
increase the appeal of the platform by helping end-users seamlessly
register and become more productive while using the
platform.
- May 14, 2020: Q1 Revenue grows 177% to $2.5
million, Gross Profit grows 267% to $1.3 million, Working Capital
of $3.5 million.
- May 12, 2020: InfernoAR platform integration
with all major video platforms including its previously announced
integration with Zoom, Microsoft Teams, Skype, and new integrations
with Cisco Webex, BlueJeans, Google Hangouts, Google Meet, and
GoToMeetings. These critical integrations continue to extend the
capabilities of the platform, broaden the utility of the platform
and help end-users become even more productive while using the
platform.
About NexTech AR Solutions Corp.
NexTech is one of the leaders 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™.
The company is pursuing four verticals in
AR.
ARitize™ For eCommerce: The company launched
its technologically advanced webAR for eCommerce early in 2019 and
has been rapidly signing up customers onto its SaaS platform.
Customers include Walther Arms, Wright Brothers, Mr. Steak, and
Budweiser. NexTech has the first ‘full funnel’ end-to-end
eCommerce solution for the AR industry including its 3D product
capture, 3D ads for Facebook and Google, ‘Try it On’ technology for
online apparel, 3D and 360-degree product views, and ‘one click
buy’.
ARitize™ 3D/AR Advertising Platform: launched
in Q1 2020 the ad platform will be the industry's first end-to-end
solution whereby the company will leverage its 3D asset creation
into 3D, 360, AR ads. In 2019, according to IDC, global advertising
spend will be about $725 billion.
InfernoAR: the world's most advanced
Augmented Reality and Video Learning Experience Platform for
Events, is a SaaS video platform that integrates Interactive Video,
Artificial Intelligence and Augmented Reality in one secure
platform to allow enterprises the ability to create the world’s
most engaging virtual event management and learning experiences.
Automated closed captions and translations to over 64 languages put
InfernoAR in a class by itself.
ARitize™ Hollywood Studios: expected to launch
in 2020, the studio has created a proprietary entertainment venue
for which it is producing immersive content using 360 video, and
augmented reality as the primary display platform.
To learn more, please follow us on Twitter, YouTube, Instagram,
LinkedIn, and Facebook, or visit our website:
https://www.nextechar.com.
On behalf of the Board of NexTech AR Solutions
Corp. “Evan Gappelberg” CEO and Director
For further information, please contact:
Evan GappelbergChief Executive
Officerinfo@nextechar.com
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”, “looking forward” or variations of such words and phrases or
statements that certain actions, events or results “will” occur.
Forward-looking statements regarding the Company increasing
investors awareness are based on the Company’s estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, levels of activity, performance
or achievements of NexTech to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including capital expenditures and
other costs. There can be no assurance that such statements will
prove to be accurate, as actual results and 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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