Nextech Integrates With Stripe For Its Events Platform Capabilities

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Nextech AR Solutions Corp. a Metaverse Company and provider of augmented reality (AR) experience technologies and services announced that it has integrated Stripe with its events platform Map Dynamics.

This integration will provide an additional, no-touch projected $760,000 annual revenue stream for Nextech through a 2 per cent platform percentage fee when Stripe is used for booth sales for virtual or hybrid events. The new Stripe integration provides a substantial increased revenue capability for both Nextech and its clients.

The Company has integrated this new service into the existing vendor management tool for its events platform. With this integration the company has added a five per cent platform fee on top of all transactions with three per cent collected by Stripe and two per cent collected by Nextech.

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In 2021 Nextech transacted approximately $38 million in booth sales through hundreds of events hosted on its platform. To date these sales have 100 per cent gone to the events hosts, however with today’s Stripe integration announcement, on a going forward basis, the company will participate in the revenue, representing an estimated $760,000 to Nextech annually. Although the company anticipates that in 2022 its booth sales software platform will meet or exceed $38 million in booth sales, it cannot guarantee it.

Booth sales are a critical part of in-person, hybrid, and even virtual events, allowing event hosts to generate revenue through exhibitors and sponsorships. Nextech’s events platform provides a variety of tools for event hosts, making the process of selling exhibitor booths seamless and effortless. For tradeshows, festivals, conferences, and any event with a vendor marketplace, event hosts can use Nextech’s interactive floorplan software to sell booth space, promote vendors, and assist attendees in planning and navigating.

Nextech AR CEO Evan Gappelberg said, “In 2021 alone our events platforms have created a tremendous amount of value for our customers with over $38 million in booth sales through hundreds of events hosted on our platform. Through this important new integration with Stripe, we have increased our cash flow generating power while also providing a frictionless experience for event hosts who use our Stripe platform for booth sales. This is truly a win-win situation and we’re excited to roll this out to end 2021 and see the benefits into 2022 and beyond.”