United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

NexTech AR CEO: Instagram embracing augmented reality a boon for both the company and the industry

Proactive Investors Wednesday, 16 October 2019
NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTSNEXCF) CEO Evan Gappelberg believes the floodgates are about to open on augmented reality technology.  The catalyst, or at least one of the biggest dominos to fall so far, is Instagram.  Earlier this month, Instagram introduced the capacity for certain brands to utilize AR technology in their advertising, according to a report from Mashable. The first wave of companies include makeup brands Mac and Nars and eyewear companies Ray-Ban and Warby Parker. With AR, those brands can show Instagram users how a particular shade of lipstick or style of glasses looks on their face all within the app itself. READ: NexTech AR Solutions set for rapid growth as nascent augmented reality market explodes: Zacks For Gappelberg, a platform as big as Instagram — which is owned by Facebook Inc (NASDAQ:FB) — embracing AR is a watershed moment for the industry.  “They're opening up their ecosystem to e-commerce businesses that have AR assets that want to advertise” Gappelberg told Proactive in an interview. “ NexTech creates those AR assets.” NexTech’s process, known as ARitizing, works by taking a 2D asset and turning it into a 3D one. Users can view the 3D image from every angle on their devices or even project it into their own space. Its clients include prominent names such as Budweiser, Mr Steak and Zoltan David jewelry.  Now, every company that wants to get in front of Instagram’s 1 billion active monthly user base has a reason to invest in AR.  First and foremost, Gappelberg said, ads that utilize AR technology perform dramatically better. “The conversion rates for AR ads are three to four times higher than non AR ads,” Gappelberg said. “And if you can get a boost in conversions, you’re gonna do it.” As Instagram expands its AR capabilities, NexTech expects more and more companies to turn to its ARitize platform. Ultimately, if the conversion rates for AR ads remain steady, 2D ads could start to become obsolete.  “All the ads are going to end up being AR ads,” Gappelberg said. “Why? Because that’s what people want.” Shares of NexTech increased 3% Wednesday to C$0.94 in Toronto and 1.5% to US$0.71 in New York.  Contact Andrew Kessel at [email protected]  Follow him on Twitter @andrew_kessel
Credit: Wibbitz Studio - Published < > Embed
News video: Neil Patrick Harris Has Surgery After Sea Urchin Incident

Neil Patrick Harris Has Surgery After Sea Urchin Incident 01:12

Neil Patrick Harris Has Surgery After Sea Urchin Incident On Instagram, the actor wrote that the accident happened a couple months ago. At the time, Harris was in Croatia with husband David Burtka and their two children. Neil Patrick Harris, via Instagram Though he removed most of the spines, a...

Recent related videos from verified sources

Lamar Odom's Son Disapproves of His Fiancée [Video]Lamar Odom's Son Disapproves of His Fiancée

Lamar Odom's Son Disapproves of His Fiancée Odom announced on Instagram on Monday that he was engaged to Sabrina Parr after four months of dating. The news came as a shock to his 17-year-old son,..

Credit: Wibbitz Studio     Duration: 00:58Published

Norwegian Cruise CEO Touts New 'Encore' Vessel [Video]Norwegian Cruise CEO Touts New 'Encore' Vessel

Norwegian Cruise Lines CEO Frank Del Rio was at the New York Stock Exchange Tuesday to ring the opening bell in celebration of the launch of the company's newest vessel, the Norwegian Encore. The..

Credit: The Street     Duration: 02:29Published

Recent related news from verified sources

NexTech AR's virtual 'try it on' technology embraced by sports glasses producer AimCam

NexTech AR Solutions Corp (OTCMKTS:NEXCF) (CSE:NTAR) has reached a deal with AimCam, a producer of video-capture enabled sports glasses, to sign up for its...
Proactive Investors

NexTech upgrades its augmented reality toolkit, taking photo-realistic AR to the next level

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) unveiled a major upgrade to its BetterRealityAR augmented reality tool, which will help its customers...
Proactive Investors

You Might Like

Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.