BITNILE.COM Announces Creation of “NILE” Coin Available Exclusively for In-World Use on BITNILE.COM
LAS VEGAS–(BUSINESS WIRE)–$AP #AULT—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company formerly known as BitNile Holdings, Inc. (“Ault Alliance” or the “Company”) and BITNILE.com, Inc. announced today the creation of the “NILE” coin for in-world purchases and use exclusively on BITNILE.COM.
Visitors to BITNILE.COM will experience first-hand the dynamic features, ambiance and capabilities of the metaverse platform (the “Platform”). The Platform is device-agnostic and is being developed to enable users to access the metaverse via the web browser allowing usage on any device such as mobile, tablets, PC’s and virtual reality headsets. The Platform is designed to incentivize users through a tiered rewards system.
Users on BITNILE.COM will be able to use their NILE coins to play 3D immersive games, purchase digital products related to gameplay, experience various forms of entertainment, and engage with a new social networking community across any of their internet connected devices. BITNILE.COM enables users to participate in the metaverse with unique avatars, customized skins, and digital accessories, all which can be paid for by using the NILE coin. The NILE coins will be an in-Platform currency only, will have no monetary value outside of the Platform and will not be available for trading outside of the Platform at this time.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The BITNILE.COM metaverse platform is one of the most amazing advances in technology I have experienced. The Platform is architected such that you do not need specialized hardware or software, just access to a browser to experience what the Platform has to offer. In my opinion BITNILE.COM will grow to be the largest and most profitable asset in the Ault Alliance family of companies. The Platform is designed to be incredibly scalable and we look forward to upcoming launch and the growth of features and functionality.”
For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; https://www.ault.com/.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at https://www.sec.gov/ and on the Company’s website at https://www.ault.com/.
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