While cannabis doesn’t seem like the most obvious application for virtual reality (VR) or augmented reality (AR) technology, we have already seen a VR weed dispensary, and now Future Farm subsidiary NexTech AR Solutions has signed a deal to bring ARHT Media holographic technology to the cannabis industry.
The deal will involve NextTech receiving an exclusive worldwide license and NexTech has also agreed to purchase a minimum of 12 holographic display units per year for the next five years, with ARHT earning royalties on commercial uses for each display.
“While we are making great inroads into the traditional retail, education, events and entertainment markets, we see the cannabis market as another big opportunity for our technology and are excited to work with NexTech to make this happen,” commented Larry O’Reilly, ARHT’s CEO. “Our holographic displays and telepresence technology are a natural fit to take cannabis retailing to a whole new level. With this agreement in place, we have the potential to be in hundreds of locations in North America over the next few years.”
“Imagine walking into your local dispensary and being able to see a 3D, 8-foot image of a cannabis bud spinning around with a 360-degree view of every trichrome, every fiery orange hair, the sugary crystals, chunky knobs enveloped by tiny leaves, without any special glasses,” commented Reuben Tozman, Chief Product Officer of NexTech. “With this proven holographic technology, we now can put 3D screens (with no glasses) into the cannabis market allowing cannabis brands to advertise as well as stream live events directly to its consumer bringing them closer to their favorite brand.”
According to Arcview Market Research, the North American cannabis market is estimated to grow to $47 billion (USD) in value by 2027. NexTech believes that this level of growth will mean the AR holographic technology is ready for deployment in the cannabis market.
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