Nextech AR Solutions (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR.NE) (CSE: NTAR) (FSE: N29), a diversified leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, advertising, conferences and events, today announced that the Company has joined the Interactive Advertising Bureau (IAB) AR Board, the leading trade association with more than 650 leading media companies, brands, and technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns.
AR advertising is at its inflection point with several retailers and eCommerce companies expected to prioritize their investments into AR eCommerce and AR advertising. Nextech already has AR technology in the marketplace and has established measurements to measure engagement data and conversion data to deliver ROI on AR ads to its customers. With this board membership at IAB, Nextech will work along with industry peers to build industry standards for AR creative formats, performance benchmarking, measurement standards and privacy considerations.
Through the work of its public policy office in Washington, D.C., IAB advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. The AR Board’s mission is to inspire brands to discover new immersive ways to reach audiences and unlock the value of AR through defining best practices and standards.
Zoe Soon, Vice President, Experience Center at IAB, comments:
“Accelerated by our new socially-distanced reality and buoyed by the rollout of 5G networks, AR is set to become the next frontier of advertising. I’m excited to welcome Nextech AR Solutions to the IAB AR Board where our mission is to help brands connect with consumers in more immersive ways. Nextech AR Solutions is a great addition to our group of industry leaders because with their eCommerce and virtual events solutions they are helping brands reimagine ways to solve consumer problems and provide utility.”
The Nextech Advertising Network team has been laser-focused on building a powerful, in-house advertising network for advertisers, brands, and sponsors, which has already begun to generate significant ROI for the company, its advertising customers, and shareholders. Nextech’s 3D/AR Ad Network enables the Company to gather first party data of online and offline purchase data, demonstrating the full impact of these advertising programs.
Hareesh Achi, President of the Advertising at Nextech AR, comments:
“Joining the IAB’s AR Board is another indication of Nextech AR’s investment in becoming the leader in the emerging AR/3D ad industry. As members, we will be able to participate in a variety of industry-facing committees which are responsible for creating industry standards and best practices, in addition to providing Nextech with an opportunity to showcase our own technology and insights. The growth in online eCommerce has created opportunities for brands and products to differentiate through immersive digital experiences and foundationally transform how they reach their target audience through online advertising. Nextech’s AR technology, virtual events platform and AR ads are going to enable the industry for this advertising digital transformation in not only reaching the audiences but also enabling that product or brand interaction with its audiences”.