Upgrade positions
Toggle3D to be preferred standard in the 3D modeling industry and
in the $160 Billion Global GGI Application Software market as an
all-in-one platform for CAD - web 3D
design
Toronto, Ontario,
Canada -- FEBRUARY 16, 2023 -- InvestorsHub NewsWire
-- Nextech
AR Solutions Corp.
(“Nextech” or the
“Company”) (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), an Augmented Reality (AR), Artificial
Intelligence (AI) and 3D model supplier for Amazon and other major
e-commerce retailers and brands is pleased to announce the Company
has launched a new “Quad Typology Converter Upgrade” which
positions Toggle3D to be an industry leading all-in-one platform
for CAD to web 3D design. Today's upgrade enables users of the
Toggle3D platform to now produce quad tessellations, which
increases the overall quality of 3D models. This is also the
preferred standard in the 3D modeling industry as this type of mesh
produces higher quality models and allows for more control over the
3D model, and is particularly important for enterprise clients to
meet quality standards. Toggle3D now enables the conversion,
texturing, customizing and sharing of the highest quality 3D models
at scale, using CAD files.
Technical Importance
Behind the Upgrade
Before a
user can use their CAD files for 3D CGI (computer generated
imagery), the solids in their design have to be tessellated to turn
into surfaces. There are two types of surfaces that can be created:
those made up of triangles and those made up of quads. Most CAD
software today allow users to naively convert CAD files into a 3D
model mesh for which the surfaces are made up of triangles.
However, triangle meshes are considered lower quality by
experienced 3D artists. In fact, most large-scale clients of
Nextech AR strictly require quad meshes for their models.
Currently, to create quad meshes from CAD files, users first have
to export the CAD files into triangulated meshes, and then use
other software to remesh the triangulated meshes into quad meshes.
Unfortunately details of the model are usually lost in this CAD to
triangles to quads translation. Toggle3D, however, converts CAD
surfaces into quad meshes directly. Part of the process is
described in our patent application titled “THREE-DIMENSIONAL (3D)
MODEL GENERATION FROM COMPUTER-AIDED DESIGN (CAD) DATA”,
Application # 17/707,922 filed March 29th,
2022.
This new
“Quad Typology Converter Upgrade” positions Toggle3D to be the
preferred standard in the 3D modeling industry and in the Global
GGI Application Software market as an all-in-one platform for CAD -
web 3D design.
The Global GGI Application Software market is projected to reach
US$160.5 Billion by the end of 2027. With this new
upgrade, users can convert their CAD files to a quad typology mesh
ready for texturing, and enables users of the Toggle3D platform to
now produce quad tessellations, which increases the quality of 3D
models. In the 3D modeling industry, this is the preferred standard
as this type of mesh produces higher quality models and allows for
increased control over the 3D model. Instead of using 4-6 different
platforms as done today to make a web-friendly 3D model from a CAD
file, users can do everything inside Toggle3D seamlessly, quickly
and in an affordable way.
CAD is a
function of product engineering, and the use of CAD files is
ubiquitous across manufacturing verticals including; automotive,
aerospace, industrial machinery, civil and construction, electrical
& electronics, pharmaceutical, healthcare, consumer goods and
others. Industrial designers, working for product manufacturers,
use CAD software like AutoCAD, and SolidWorks to design many of the
products in the modern world. The growth in the CAD market is
attributed to the superior assistance that CAD provides including
increased productivity, improved product quality, faster
development, better visualization of the final product, constituent
parts, lower product development cost. As the technological shift
continues to 3D-commerce, every product that is designed and
manufactured using CAD files will need to be converted into a 3D
model for e-commerce, and other digital applications like product
marketing, AR experiences and more. Toggle3D is the perfect
solution for CAD to web 3D conversion, as it enables the
conversion, texturing, customizing and sharing of 3D models at
scale with no 3D modeling expertise or experience
required.
Toggle3D
accepts other file formats too, so in addition to accepting popular
CAD formats, the platform also accepts other 3D file formats for
those looking to build product configurators or change materials of
existing web 3D models.
Pictured
Below
Left:
clean, sub-dividable quad meshes
Right:
triangulated meshes from native CAD conversion
Spin-Out
On
February 2, 2023 Nextech AR
announced the details of its IPO spin-out of Toggle3D.
The
Company has has determined to pursue a direct spinout of its
generative AI powered Toggle3D platform through a wholly-owned
subsidiary of the Company (“Subco”). The transaction is currently
anticipated to proceed by way of plan of arrangement (the
“Arrangement”) pursuant to which the Toggle3D platform and
associated assets will be spun out into a new Subco, but will be
subject to final tax and legal structuring
considerations.
The
Arrangement, if completed, is anticipated to result in, among other
things, (i) Nextech retaining approximately 65% of the issued and
outstanding shares of Subco (“Subco Shares”) upon completion of the
transaction, (ii) approximately 20% of the Subco Shares being
distributed directly to Nextech shareholders on a pro rata basis;
and (iii) approximately 15% of the Subco Shares being distributed
to certain service providers of Nextech in consideration of past
services, as calculated prior to completion of the Private
Placement following which the above percentages will be adjusted on
a pro rata basis. In connection with the Arrangement, Nextech
intends to seek a direct listing of the Subco Shares on the
Canadian Securities Exchange ("CSE").
About
Toggle3D
Launched
in September 2022, Toggle3D is an AR enhanced standalone web
application which enables product designers, 3D artists, marketing
professionals and eCommerce site owners to create, customize and
publish high-quality 3D models and experiences without any
technical or 3D design knowledge required. The Company believes
that Toggle3D is the first platform of its kind, and this
break-through SaaS product is a potential game changer for the
manufacturing and design industry, as it provides a viable solution
to convert large CAD files into lightweight 3D models at affordable
prices and at scale. According to BIS Research, the CAD market,
quantified by the amount spent on the creation of CAD files, is
projected to reach $11 Billion dollars by 2023.
Top Three Competitive Advantages of Toggle 3D Versus 3D Legacy
Software
NO Learning
Curve:
What
makes Toggle3D different from the legacy 3D design software is its
ease-of-use and democratization of 3D design. The goal is for
anyone with no prior technical or 3D design experience to be able
to hop into the platform and create a high-quality 3D visual in
minutes. This is unlike legacy 3D modeling systems, that require
months to truly feel comfortable with. Users would first be
required to learn and understand the industry lingo, learn what the
tools do and then learn how to use them in the legacy software.
Meanwhile, we have streamlined this process in Toggle3D by
“humanizing” 3D design terminology, creating templates to guide
creation and simplifying the tools using machine learning to
transfer the complexity out of the user experience into the backend
platform, and instead allow more room for
creativity.
Web-based:
Toggle3D
is a web-based design studio which means the user can access
everything on the browser and start designing instantly. No desktop
downloads involved, no updates to keep track of, and no system
requirements to worry about. All the templates are organized into
project panels that a user can access anywhere and seamlessly
navigate between. This is different from how legacy software were
built back in the day with the software package being broken out
into multiple desktop apps that would require the user to
understand system compatibility, download, sync, and learn
independently.
Collaboration:
Toggle3D
will allow advanced, in-app collaboration. These new sets of
features will allow multiple users to work at the same time and on
the same project resulting in quick feedback and decision making
cross-department, and team. These tools will allow businesses to
adopt 3D organization-wide and unlock the power of group iteration.
Users could set up workflows, permissions, and version history to
keep up with real-time design changes. These advanced collaboration
cycles are harder to set up in desktop apps and may sometimes
slowdown or isolate the design workflow.
To learn
more, please follow us on
Twitter,
YouTube,
Instagram,
LinkedIn, and
Facebook, or visit our
website:
https://www.Nextechar.com.
For
further information, please contact:
Investor Relations
Contact
Lindsay
Betts
investor.relations@Nextechar.com
866-ARITIZE
(274-8493) Ext 7201
Nextech AR Solutions
Corp.
Evan
Gappelberg
CEO and
Director
866-ARITIZE
(274-8493)
About Nextech
AR
Nextech
AR Solutions (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2) is a diversified augmented reality, AI
technology company that leverages proprietary artificial
intelligence (AI) to create 3D experiences for the metaverse. Its
main businesses are creating 3D WebAR photorealistic models for the
Prime Ecommerce Marketplace as well as many other online retailers.
The Company develops or acquires what it believes are disruptive
technologies and once commercialized, spins them out as stand-alone
public Companies issuing a stock dividend to shareholders while
retaining a significant ownership stake in the public
spin-out.
On
October 26, 2022 Nextech AR spun out its spatial computing
platform, “ARway” as a stand alone public Company. Nextech AR
retained a control ownership in ARway Corp. with 13 million shares,
or a 50% stake, and distributed 4 million shares to Nextech AR
Shareholders. ARway is currently listed on the Canadian Securities
Exchange (CSE:ARWY), in USA on the (OTC: ARWYF) and Internationally
on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is
disrupting the augmented reality wayfinding market with a no-code,
no beacon spatial computing platform enabled by visual marker
tracking.
On
December 14, 2022 Nextech AR announced its second spinout of
Toggle3D, an AI-powered 3D design studio to compete with Adobe.
Toggle3D is expected to be public in the first half of
2023.
To learn
more about ARway, visit
https://www.arway.ai/
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