NEW YORK and TORONTO, Jan. 22, 2020 — NexTech AR Solutions (the “Company” or “NexTech”) (otcqb:NEXCF) (NTAR)(N29) NexTech AR Solutions, the industry leader in augmented reality, is pleased to announce that it’s preparing to launch a Virtual Reality (VR) division called VRitize.
The new VRitize division will help the company achieve its projected revenue goal of $20 million in 2020 by working side by side with the ARitize division utilizing many of the same 3D assets created for AR, only now in a fully immersive new and exciting VR experience for in store retail.
V-commerce has been coined as a way to create virtual stores where a customer could choose and buy products virtually in 3D. VR in retail is predicted to reduce marketing costs, reduce product returns and offer efficient analytics and data which is very similar to the AR value proposition for E-commerce. With ARitize and now VRitize NexTech has positioned itself at the intersection and transformation of the entire $3.7 trillion dollar (Statista) retail ecosystem with the industries first state of the art one-stop E-commerce, V-commerce AR/VR solution.
Evan Gappelberg CEO of NexTech commented “New AR/VR technologies are starting to