This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230209005392\/en\/<\/a><\/p>\n Four views 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 now, Get Rewarded! Launching March 1, 2023. #Egyptian_paradise #Pyramids #The_River_Nile #Exotic_vacations #Exotic_adventures (Graphic: Business Wire)<\/p>\n<\/div>\n \nBitNile.com\u2019s metaverse platform (the \u201cPlatform<\/b>\u201d) will launch on March 1, 2023, representing an evolution of how people interact digitally with a bidirectional connection to the physical. The Platform will incentivize users through a tiered rewards system supported by a revenue and reward model. The Platform will be device-agnostic, where users will be able to play 3D immersive games, can purchase both digital and physical products, experience various forms of entertainment, and engage with a new social networking community across any of their internet connected devices. The Platform will allow users to participate in the metaverse with unique avatars and customized skins.\n<\/p>\n \nAccording to Statistica, revenue in the metaverse market is projected to reach $55 billion in 2023 and metaverse\u2019s reach is projected to be 700 million people by 2030. By providing access to and combining various elements of gaming, shopping and advertising, the Platform\u2019s addressable marketplaces will include the online retail\/ecommerce market, which is estimated at $6.3 trillion per eMarketer, the collectibles marketplace, estimated to be $426 billion per Market Decipher, and the global online gaming market, which is estimated at $63 billion according to Grand View Research. The Platform\u2019s technology is powered by proprietary software from a third party that has the ability to scale, given the marketplaces BitNile.com anticipates to target in the future.\n<\/p>\n \nExamples of the digital \u201cin-world\u201d experiences the Platform anticipates making available include slot machines, a sports book, Texas Hold\u2019em tournaments, and various other games of chance using a sweepstakes model. The Platform is expected to have the ability to live-stream concerts and other forms of live entertainment, to create personalized avatars with fan favorite INDYCAR Series driver\u2019s jersey and other unique digital skins. The Platform\u2019s advertising model is expected to provide detailed targeting, backed by a multi-tiered next-gen reward system that incentivizes behavior. At launch, the Platform will be in beta format and not all of the experiences and functionality will be available immediately.\n<\/p>\n \nBeyond the virtual, BitNile.com\u2019s team of expert experience curators will craft unique real-world adventures, such as events where users will be able to dine with celebrities, go behind the scenes at NYC Fashion Week, explore off-grid Patagonia on horseback, or have naming rights to a stadium.\n<\/p>\n \nAt the closing of the Agreement, Ecoark will acquire BitNile.com from Ault Alliance and other founders, in exchange for shares of Ecoark preferred stock (the \u201cPreferred Stock<\/b>\u201d). The Preferred Stock will have a stated value of $100 million, be convertible into shares of Ecoark common stock, accrue dividends of 5% per annum for 10 years, and be entitled to certain other rights as set forth in the certificate of designation for the Preferred Stock. The closing of the Agreement, pursuant to which Ault Alliance will be able to convert and vote up to 19.9% of Ecoark\u2019s issued and outstanding shares of common stock, is subject to Ecoark\u2019s receipt of a fairness opinion, each parties\u2019 satisfaction of its due diligence review of the other party, completion of required stock exchange and regulatory approvals, and other customary closing conditions. The parties expect to complete the acquisition of BitNile.com during February 2023. Ecoark will seek approval by its shareholders at a meeting called for such purpose, upon which Ecoark will be a majority-beneficially owned subsidiary of Ault Alliance and Ault Alliance will be able to convert and vote the entirety of the Preferred Stock.\n<\/p>\n \nIn addition to the Platform, BitNile.com will also own, at the closing, Ault Alliance\u2019s 19.9% equity ownership in Earnity, Inc. (\u201cEarnity<\/b>\u201d). Earnity aims to democratize access to the broadest array of cryptocurrency assets in a secure, educational, and community-oriented platform to global customers. In so doing, Earnity provides users with the ability to earn, learn, collect and gift a variety of tokens and portfolios. BitNile.com and Earnity will collaborate on creating secure digital products and incentives to enhance the user\u2019s metaverse experience.\n<\/p>\n \nMilton \u201cTodd\u201d Ault, III, Ault Alliance\u2019s Executive Chairman, stated, \u201cThe BitNile.com platform has next generation capabilities and technology, and we believe after the acquisition by Ecoark, a Nasdaq listed company, the Platform will be well positioned to expand, launching new business streams and products. We\u2019re at the early stages of a land grab in the metaverse market right now, and we expect BitNile.com will establish itself as a major player in this market with a ready-to-launch suite of unique user experiences in a browser-based, device-agnostic manner. We are excited to work with the Ecoark team in creating this destination platform in the metaverse and building something we expect to be truly remarkable.\u201d\n<\/p>\n \nEcoark\u2019s Founder, Chairman and CEO, Randy May, stated, \u201cI am grateful to continue our partnership with Todd Ault in structuring this mutually beneficial transaction. I feel there is tremendous potential with the unique metaverse offering of the Platform, and we believe this strategic acquisition will allow us to develop new partnerships leading to more rapid customer acquisition and premier content creation to enhance the Platform and grow revenue and profitability.\u201d\n<\/p>\n About Ault Alliance, Inc.<\/b><\/p>\n \nAult 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\u2019s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com<\/a>.\n<\/p>\n About Ecoark Holdings, Inc.<\/b><\/p>\n \nFounded in 2011, Ecoark is a diversified holding company. Ecoark owns three principal subsidiaries either directly or indirectly: approximately 66% of Wolf Energy Services Inc. (OTCQB: WOEN) (\u201cWolf\u201d) indirectly, 100% of Zest Labs, Inc. (\u201cZest Labs\u201d) directly, and approximately 89% of Agora Digital Holdings Inc. (\u201cAgora\u201d) directly. Ecoark also owns approximately 70% of White River Energy Corp (OTCQB: FRTM) (\u201cWhite River \u201d). Wolf provides trucking and other oilfield services through its Banner Midstream business. White River owns White River Holdings Corp., an oil and gas drilling, exploration, and production company. Zest Labs, offers the Zest Fresh\u2122 solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Agora engaged in the mining of Bitcoin prior to the industry sell-off through its subsidiary, Bitstream Mining LLC, and is now transitioning to a hosting company. ZEST FRESH\u2122 and Zest Labs\u2122 are trademarks of Zest Labs, Inc.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains \u201cforward-looking statements\u201d 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 \u201cbelieves,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cprojects,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cpotential,\u201d 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 Ecoark 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 continuation of high oil prices and state regulation of bitcoin mining, investors should review risk factors, that could affect either or both of the Ault Alliance\u2019s and Ecoark\u2019s respective businesses and financial results which are included in Ault Alliance\u2019s and Ecoark\u2019s 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<\/a> and on the companies\u2019 websites at www.Ault.com<\/a> and www.ecoarkusa.com<\/a>, respectively.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230209005392\/en\/<\/a><\/span><\/p>\n Ault Alliance Investor Contact:![\"Four](\"https:\/\/mms.businesswire.com\/media\/20230209005392\/en\/1709834\/4\/BITNILE.com_Metaverse_Graphic_02082023.jpg\")
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IR@Ault.com<\/a> or 1-888-753-2235\n<\/p>\n
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