BitNile.com Begins Generating Revenue From Social Gaming and Metaverse Ads
05 Juin 2023 - 3:00PM
Business Wire
BitNile Metaverse, Inc. (Nasdaq: BNMV) (“BitNile
Metaverse” or the “Company”), announced today that its
metaverse platform, BitNile.com (the “Platform”), has begun
generating revenue from the sale of in-world coins utilized in
social gaming and from immersive advertising, marking a significant
milestone in the Company’s strategic monetization strategy.
BitNile Metaverse recently introduced social gaming on the
Platform with the release of roulette, offering users an
opportunity to play for fun or real money prizes through a
sweepstakes model. The introduction of coin packages in the
Platform, which users can purchase in varying denominations, has
generated a revenue stream for the Company. Other popular social
games, such as blackjack and slots, are currently under
development, and are expected to lead to increased revenue.
BitNile.com has also begun to recognize advertising revenue,
which is consistent with the Company’s larger plan to monetize its
metaverse Platform. The strategy entails personalized advertising
and partnerships with popular ad networks. The unique advertising
ecosystem developed within BitNile.com’s metaverse offers marketers
exposure to an actively engaged audience, thus boosting ad
revenue.
BitNile Metaverse, through its wholly owned subsidiary
BitNile.com, Inc. (“BNC”), owns and operates the
Platform.
“We are elated to announce that BitNile.com has just started
harnessing its potential to generate significant revenue,” stated
Milton “Todd” Ault, III, Executive Chairman of BNC. “With the
successful launch of our social casino and the comprehensive
evolution of our advertising ecosystem, we are making our initial
steps towards expected sustained revenue growth. More importantly,
we are underscoring our unwavering commitment to deliver a rich,
engaging metaverse experience. While it’s still early in our
ramp-up cycle, there is tremendous potential for future growth. We
are just getting started, and there is a world of opportunities yet
to be explored.”
Users can access and explore the early-access version of the
Platform and receive updates by visiting https://BitNile.com.
Sweepstakes are only open to residents of the United States
(other than residents of Idaho and Washington) who are at least
eighteen years old or the age of majority in their jurisdiction
(whichever occurs later) at the time of entry. Participation is
void where prohibited by law.
About BitNile Metaverse, Inc.
Founded in 2011, BitNile Metaverse (Nasdaq: BNMV) owns 100% of
BNC, including the BitNile.com metaverse Platform. The Platform,
which went live to the public on March 1, 2023, allows users to
engage with a new social networking community and purchase both
digital and physical products while playing 3D immersive games. In
addition to BNC, BitNile Metaverse also owns three non-core
subsidiaries either directly or indirectly: approximately 66% of
Wolf Energy Services Inc. (OTCQB: WOEN) indirectly; 100% of Zest
Labs, Inc. directly; and approximately 89% of Agora Digital
Holdings Inc. directly. BitNile Metaverse also owns approximately
70% of White River Energy Corp (OTCQB: WTRV).
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 BitNile Metaverse will not undertake any obligation to update
any of these statements 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. In addition to risks relating to the acceptance of the
Platform by individuals, competition with much larger companies
operating metaverses and BitNile Metaverse’s ability to raise
capital, investors should review risk factors, that could affect
BitNile Metaverse’s business and financial results which are
included in BitNile Metaverse’s filings with the U.S. Securities
and Exchange Commission, including, but not limited to, Forms 10-K,
10-Q and 8-K. All such filings are available at www.sec.gov and on
the companies’ websites at www.BitNile.net.
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