- NexTech AR Solutions Corp. recently announced it had joined the Interactive Advertising Bureau’s AR board
- This announcement comes at a time when NexTech has been focusing on AR advertising, as seen through the recent launch of its in-house ad network that is similar to Amazon’s and Walmart’s advertisement networks
- NexTech, through its Ad Network, will curate ads for each event based on the theme and will be a marketplace where marketers and advertisers meet their target audiences
- With the company projecting that its revenues will increase in 2021, the fact that the Ad Network has already begun generating ROI means that it is bound to contribute to this revenue growth
Augmented reality (“AR”) has become a real utility. Buoyed by its use in gaming and entertainment in 2019, AR usage has been on an upward trajectory and has now been more broadly adopted in other industries. As a result, a 2020 survey by VR Intelligence revealed that 65% of companies were developing AR solutions for enterprise use, while 37.4% worked on consumer products and software (https://ibn.fm/K2YrX). NexTech AR Solutions (CSE: NTAR) (OTCQB: NEXCF), which falls in the first category, recently launched its Ad Network and announced it had joined the Interactive Advertising Bureau’s (“IAB”) AR board.
IAB is the leading trade association whose mandate is to empower the media and players in the marketing industry to thrive in the digital economy. Its membership comprises over 650 leading media companies, brands and technology firms responsible for selling, delivering and…
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF
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