NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) announced Tuesday that ICM Credit, a global training company for financial institutions, has chosen the company’s InfernoAR video conferencing platform, ScreenAR software, and event design services for its three-day CREVOLUTION 2020 event in Mexico, starting on November 10.
The deal is worth $90,000 to NexTech, with the potential for added revenue from the sale of augmented reality booths, and its newly launched ScreenAR software. ScreenAR allows augmented reality experiences to “pop” off the computer or TV screen, creating a one-of-a-kind immersive experience to keep people engaged in virtual classrooms, trade shows and other events.
In a statement, Luis Eduardo Perez who is the president of ICM Credit said: "CREVOLUTION is the most disruptive event in the global financial industry, when moving to a digital environment, we had the need to maintain that innovative spirit in our proposal, which is why we believe that Inferno, with its multiple functionalities and friendly interactivity, will allow our guests to have a memorable experience that will undoubtedly make them remember this event much more than previous editions."
The event represents NexTech's first Spanish-speaking virtual event targeted at the Latin American market, where demand for virtual events continues to grow. According to Grandview Research, the global virtual events market in 2020 is estimated at $90 billion and expected to hit over $400 billion by 2027 growing at a 23% compound annual growth rate.
NexTech’s InfernoAR platform has augmented reality, AI, end-to-end encryption and built-in language translation into 64-languages, so the company is positioned to rapidly grab market share as growth accelerates.
NexTech CEO Evan Gappelberg said the company was “excited” to work with Luis Eduardo and his team at ICM: “Their vision for how to take the successful CREVOLOTION event program to an all-digital experience, speaks of their commitment to their attendees and exhibitors and to their leadership position in the financial industry.”
He continued: “The virtual events market is witnessing extremely high demand as most companies have adopted a work-from-home policy due to the lockdown imposed by COVID-19.”
According to the NexTech boss, the stay-at-home measures have resulted in “increased opportunities” for NexTech as corporations are “extensively using video conferencing platforms for business and client meetings.”
As part of CREVOLUTION’s pre-event marketing, NexTech will provide six weekly webinar workshops on the InfernoAR platform to registered attendees.
NexTech which bills itself as the first publicly traded “pure-play” AR company has offices in offices in New York, Toronto, Dallas and San Jose.
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