- Nextech3D.ai (CSE:NTAR) has been awarded a patent from the U.S. Patent and Trademark Office for a 3D model generation from computer-aided design data
- The patent will enable the company to capture a larger portion of the growing 3D model creation business
- The company has already been using this technology in tandem with its Toggle3D platform
- Shares of Nextech3D.ai are up 9.30 per cent to C$0.24 as of 12:08 pm ET
Nextech3D.ai (CSE:NTAR) has been awarded a patent from the U.S. Patent and Trademark Office (USPTO) for 3D model generation from a computer-aided design (CAD) data, the company announced Wednesday.
In a news release, Nextech3D.ai explained the patent will enable the company to invest in 3D technology and innovate with AI-powered solutions.
“In 2023, we are witnessing a paradigm shift in technology with AI, AR and 3D model creation becoming the next generation of foundational technology that shapes our future,” Evan Gappelberg, CEO of Nextech3D.ai, said in a statement. “With the approval of this pivotal AI patent we are perfectly positioned for this future and we are excited to deliver today’s tangible results and long-lasting value for our loyal shareholders.”
The company also said the patent will assist it in capturing a larger portion of the 3D model creation business thanks to the demand for 3D product models. Through Nextech3D.ai’s technology, a user can create a 3D model technology with the assistance of CAD and texture it in minutes.
The technology has already been implemented in Nextech3D.ai’s Toggle3D product, which can leverage the technology to convert CAD files into 3D designs and textures.
Nextech3D.ai is a diversified technology company that leverages proprietary AI to create 3D models and experiences. Its main businesses are creating 3D models for Amazon and other major e-commerce retailers.
Shares of Nextech3D.ai are up 9.30 per cent to C$0.24 as of 12:08 pm ET.
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