Company is building a patent moat around its game-changing AI powered technology
TORONTO, ON / ACCESSWIRE / March 7, 2023 / ARway Corporation ("ARway" or the "Company") (CSE:ARWY), (OTC PINK:ARWYF) (FSE:E65) is an AI powered Augmented Reality Navigation platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision. ARway is pleased to announce the Company has filed the first in a series of patents around its technology. The provisional utility patent titled "System & method for generating 3D digital twins from property floorplan images for Augmented Reality systems," was filed with the United States Patent and Trademark Office (USPTO) and is a crucial step in advancing ARway's digital twin technology. This disruptive technology eliminates the complexity and expense of creating digital environments with hardware like BLE beacons, Ultra Wide Band, satellite technology as well as laser and LiDAR scanners.
This technology is a foundational key part of the value proposition of the ARway platform and positions the Company at the forefront of the $44 Billion global indoor positioning and indoor navigation (IPIN) market. With this patent filing, ARway is poised to revolutionize indoor navigation with its no-code, no-hardware spatial computing platform.
ARway CEO Evan Gappelberg commented, "We are excited to announce this first in a series of planned patent filing for ARway's digital twin technology. We believe that this technology will become a cornerstone of our ARway platform and help us further establish the Company as a leader in the global indoor positioning and indoor navigation market. This market represents a massive revenue opportunity for ARway as the Company aims on becoming the leading service provider for indoor navigation across all industries."
ARway's technology transforms two-dimensional floor plans and architectural drawings into 3D digital twins that serve as an accurate reference model for remote AR content authoring. The ARway ``Map" in the Creator Portal is representative of the real-world size and scale of the property, ensuring accurate authoring of AR scenes. ARway's technology eliminates the complexity of creating digital environments with expensive hardware and scanners. These digital environments for authoring are also generated without writing code making it vastly more accessible for the user with unmatched intuitiveness.
Creating digital twins of physical environments is a necessary reference for placing digital content accurately in AR environments, and ARway's technology provides a novel way to accomplish this. ARway creates the representative digital twin of a property by processing floor plans and architectural drawings as the reference. Floorplans are 2D by default and the ARway converts these artifacts for use in 3D environments by combining and transforming position data from the real world and image pixels of the floorplan in a 3D engine.
According to research from Technavio, the $44 billion global indoor positioning and indoor navigation (IIPIN) market will grow by USD 23.03 billion from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR of 33.21% during the forecast period. The market growth will be led by North America, as this region will account for 40% of the market's growth during the forecast period.
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About ARway Corp
ARway is an AI powered augmented reality navigation platform for the real-world metaverse. It enables AR-enhanced indoor navigation and wayfinding solutions for large, multi-purpose venues enabled by marker-based tracking using QR codes. Visitors can access a venue map by scanning a QR code with their smartphone upon entering the venue to navigate to any Point of Interest (POI) with step by step directions, learn information about those POIs, and interact with rich AR content and experiences along the way.
The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech's 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.
The ARway Platform Includes:
Web Creator Platform
The Web-Based Creator Platform provides 'advanced' authoring capabilities compared to the mobile app, including the ability for creators to upload their own OBJ/GLB files, and create their own 3D objects. Placing content in a large area using only mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.
With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse.
Download the Mobile App
The Software Development Kit contains code libraries and API information that allows developers to build their own white label & private label mobile apps on both iOs and Android leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators will be able to develop white label and private label apps and access ARway APIs to author maps using the Web Creator Portal. The SDK features the latest and greatest of the ARway mobile app.
Nextech AR Solutions
On October 26, 2022, ARway Corp. was spun-out from its parent Company, Nextech AR Solutions (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2). Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake. Nextech AR Solutions is a Metaverse Company and leading provider of augmented reality ("AR") experience technologies and 3D model services. Nextech's AI-powered 3D modeling platform, "ARItize3D" has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech AR, visit www.nextechar.com
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Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway Corp. will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: ARway Corporation