NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) announced Thursday that the Canadian Urban Transit Association (CUTA) has chosen its InfernoAR virtual events platform to power its annual conference in November.
NexTech will be paid C$90,000 for the four-day event, which will be held virtually for the first time ever from November 16-19.
“[This conference is] an event unlike anything we’ve done before in a year unlike any of us have seen before,” CUTA CEO Marco D’Angelo said in a statement. “We needed more than a webcam meeting. We needed a true virtual conference and reviewed dozens of virtual platforms. We chose NexTech's InfernoAR not only for its extensive technological capabilities, but the responsiveness and enthusiasm of its team.”
CUTA encompasses the majority of Canada’s transit systems, including Victoria, Vancouver, Halifax and St. John’s. Its members also include government agencies, business members and other affiliates.
“We are gratified that CUTA, which is such a significant part of the Canadian transportation infrastructure, has chosen to work with us,” NexTech CEO Evan Gappelberg said. “Their vision for how to take their annual program to an all-digital experience speaks of their commitment to their attendees and exhibitors and to their leadership position in the transportation industry globally.”
According to Grandview Research, the global virtual events market is worth C$90 billion this year and is expected to reach $400 billion by 2027, NexTech noted.
“Due to COVID-19 the virtual events market is witnessing extremely high demand, which we expect to translate into accelerating new business opportunities for Nextech for the next 12 months and beyond,” Gappelberg said. “When live events do return to the mainstream, virtual events are likely to continue to play a major part in event strategies because they are budget-friendly, ensuring a very high [return on investment] along with a dynamic attendee experience."
InfernoAR comes utilizes NexTech’s ScreenAR software, which allows augmented reality experiences to “pop” off the computer or TV screen, creating a one-of-a-kind experience to keep people engaged in virtual classrooms, trade shows and other events.
“InfernoAR is pushing the boundaries of what's possible with new virtual event ScreenAR technology, creating an exciting, immersive, and sticky experience that we believe will continue to be in demand long after COVID19,” Gappelberg added.
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