Metaverse Platform BITNILE.COM Reaches One Million Engaged Users in Less than Seven Weeks

Unlimited Access to the Metaverse Via First Headgear-Optional, Download-Free Platform

Ault Alliance, Inc. (NYSE American: AULT) (“Ault Alliance”), a diversified holding company, and BitNile Metaverse, Inc. (Nasdaq: BNMV) (“BitNile Metaverse” or the “Company”), the company operating the rapidly growing virtual world, BITNILE.com (the “Platform”), announced that the Platform has surpassed 1,000,000 engaged users in less than seven weeks since launching its early-access phase.

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The 3D Platform’s appeal is growing as a multitude of people have experienced unlimited access to the Metaverse in a browser-based format without plug-ins, downloads or apps, which can be enjoyed with or without a costly virtual reality headset.

“What’s amazing is that we are still in ‘preview’ mode, with very little interactive content in the Platform,” said Founder and Executive Chairman of Ault Alliance, Milton “Todd” Ault, III. “But that is changing rapidly, as we are planning to add some great new games and in-world features this month. Soon, the Platform will, in my opinion, be the hottest spot in the Metaverse.”

BitNile Metaverse owns and operates the Platform through its wholly owned subsidiary BitNile.com, Inc. (“BNI”).

Launched on March 1, 2023, the Platform currently provides a preview of the foundational world and related activities. New features and functionalities will be added regularly, encompassing 3D immersive games, eCommerce, live streaming entertainment, and social networking. BNI is working on implementing a tiered rewards system on the Platform to encourage users to visit frequently and stay for extended periods. Advertisers are anticipated to benefit from increased “stickiness” and inventive advertising models to be implemented on the Platform.

Regarding its upcoming features and experiences, Douglas Gintz, President of BNI, said, “We are targeting May 1, 2023 for the rollout of the first of many expected social gaming experiences that will offer eligible users a chance to win real-world prizes, including cash. We will provide more detail in the near future, or users can sign up at BITNILE.com to keep up to date.”

The Company’s dedication to improving the user experience across the Platform via ongoing innovation and expansion is expected to further solidify its position within the metaverse market. As the number of users continues to grow, the Platform is poised to become a premier destination for those seeking a truly immersive and interconnected virtual world. Users can access and explore the early-access version of the Platform and receive updates by visiting https://BITNILE.com.

The Platform uses Google Analytics to track usage and identify users. A user is considered to be engaged if one of the following conditions is met: the session lasted longer than 10 seconds; it resulted in one or more conversation events; or it resulted in two or more page/screen views.

About BitNile Metaverse, Inc.

Founded in 2011, BitNile Metaverse (Nasdaq: BNMV) owns 100% of BitNile.com, Inc., 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 BitNile.com, Inc., 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).

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 metaverse platform, 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; 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 neither Ault Alliance nor BitNile Metaverse 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 either or both of the Ault Alliance’s and BitNile Metaverse’s respective businesses and financial results which are included in Ault Alliance’s and BitNile Metaverse’s respective filings with the U.S. Securities and Exchange Commission, including, but not limited to, their respective Forms 10-K, 10-Q and 8-K. All such filings are available at www.sec.gov and on the companies’ websites at www.Ault.com and www.BitNile.net, respectively.

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