BITNILE.COM Announces Creation of “NILE” Coin Available Exclusively for In-World Use on BITNILE.COM

Rhea-AI Summary

Ault Alliance, Inc. (NYSE American: AULT) announces the launch of the "NILE" coin for in-world transactions on its platform, BITNILE.COM. This coin is designed for purchases within the platform, allowing users to play immersive games, buy digital products, and engage in social networking across devices. The BITNILE metaverse platform is accessible via web browser without the need for specialized hardware. Executive Chairman Milton Ault III highlighted the platform's potential for profitability and scalability, emphasizing its user-friendly nature. The coin will not hold monetary value outside the platform, ensuring a contained ecosystem for users.

Positive

• Launch of the 'NILE' coin enhances user engagement on BITNILE.COM.
• The metaverse platform supports multiple devices, increasing accessibility.
• Executive Chairman projects significant growth and profitability potential.

Negative

• The NILE coin has no monetary value outside the BITNILE.COM platform.

LAS VEGAS--(BUSINESS WIRE)-- 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.

A composite view from a world everyone can visit at BITNILE.COM. The only limit to what you can see, visit and do at BITNILE.COM is your imagination. Register prior to March 1, 2023 and Get Rewarded! Launching March 1, 2023 #Egyptian paradise #Pyramids #The_Nile_River #The_River_Nile #exotic_vacations #exotic_adventures #jet_airplane #VR_experience #BitNile.com @BitNile.com $BitNile.com #Ault_Alliance @Ault_Alliance #Ault

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/.

Forward-Looking Statements

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/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230224005197/en/

IR@Ault.com or 1-888-753-2235

Source: Ault Alliance, Inc.

FAQ

What is the NILE coin and when was it launched?

The NILE coin is an in-world currency for BITNILE.COM, launched on March 1, 2023.

How can users utilize the NILE coin on BITNILE.COM?

Users can use NILE coins to play games, purchase digital products, and engage socially on BITNILE.COM.

What are the accessibility features of the BITNILE.COM platform?

The BITNILE.COM platform is device-agnostic and accessible via web browsers on various devices.

Who is the Executive Chairman of Ault Alliance?

Milton 'Todd' Ault III is the Executive Chairman of Ault Alliance.

Is the NILE coin tradable outside of the BITNILE.COM platform?

No, the NILE coin cannot be traded outside BITNILE.COM and has no external monetary value.