NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) announced Thursday that its InfernoAR video conferencing platform has been chosen by Ryerson University as the basis for a new augmented reality remote education platform.
NexTech will help launch the Ryerson Augmented Learning Experience (RALE) platform in a licensing deal worth C$250,000 with the potential for more revenue from additional AR services. The deal includes an annual license fee for the InfernoAR platform, an annual license fee for the Aritize white label app, plus a fee per AR lab, with an initial build of 20 labs.
Going forward, NexTech hopes to use the same business model to sign up other universities in Canada and elsewhere.
The initial RALE launch will focus on first-year chemistry, biology and physics content, enabling 5,000 students to participate in AR learning experiences during the fall and winter terms. Ryerson, located in Toronto, has more than 46,000 students in total.
“At Ryerson, we took the bold step of re-imagining a virtual lab,” Ryerson Faculty of Science dean David Cruffy said in a statement. “With inputs from staff, students and faculty we designed and developed a completely collaborative environment that ensures an immersive and fun learning experience for our students. The incorporation of augmented reality into the STEM learning environment will change pedagogy forever.”
“A Ryerson student is a global citizen,” NexTech president Paul Duffy said. “What better way to transcend time and geography in today's Covid-culture than with augmented reality holograms on the InfernoAR platform?”
The RALE virtual labs will include real-time collaborative Zoom sessions with lab technicians and fellow student lab partners complemented with AR lab exercises that allow students to project into their home the lab materials required for each experiment.
“We are thrilled to be working with such an esteemed university as Ryerson,” NextTech CEO Evan Gappelberg added. “Covid-19 has created a huge challenge for learning institutions globally especially with labs where student and subject matter interaction is so critical to learning. Our InfernoAR platform is well suited to solve this challenge by offering not only video learning but augmented reality for 3D volumetric object interactions."
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