VANCOUVER, British Columbia, July 21, 2023 (GLOBE NEWSWIRE) -- ARway Corporation (CSE:ARWY) (OTCQB:ARWYF) (FSE:E65), the leading provider of an innovative Augmented Reality Experience platform, announced a groundbreaking partnership with Map D, a well-established event technology company. Map D, a 13-year old event technology company wholly owned by Nextech3D.ai. (OTCQX:NEXCF) (CSE:NTAR), specializes in providing innovative solutions that enhance attendee and exhibitor experiences.
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Under Map D’s contract to license ARway’s spatial computing navigation platform, ARway is guaranteed a minimum of $500,000 over 12 months with ARway entitled to an additional 10% royalty should sales exceed $500,000 within any 12-month period.
Through this strategic partnership, Map Dynamics aims to disrupt the trade show industry through the introduction of ARway's cutting-edge augmented reality indoor navigation system. This momentous partnership sets the stage for a new era in the trade show industry, where augmented reality navigation becomes an integral part of the event experience. It is expected the synergy of these two industry leaders will drive innovation, foster growth, and position both companies at the forefront of the evolving event technology landscape.
Michael Candela, Map D's Senior VP, Strategic Markets, stated: "The fusion of Map D's robust interactive mapping technology with ARway's innovative augmented reality capabilities is not just an upgrade; it's a leap forward that promises to revolutionize the navigation, and advertising experiences at events!"
ReportLinker reports that the global exhibition market size is expected to reach over $50 billion, growing at a CAGR of over 3% during the period 2019–2025, with the US region the largest market for exhibitions.
The shares, which began trading in November, are trading at $0.67. For more information, please visit the company’s website www.arway.ai or contact Evan Gappelberg, CEO, at 866-274-8493. For Investor Relations, contact Julia Viola at investor.relations@arway.ai.
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