LAS VEGAS–(BUSINESS WIRE)–BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding firm (“BitNile” or the “Company”), introduced immediately that its subsidiary, BitNile, Inc. (“BNI”), has begun growth of a Bitcoin-based market platform (“Marketplace”), which expects to leverage blockchain and different rising applied sciences. BNI believes that the Marketplace will scale back the complexity of transacting in Bitcoin and end in decrease transaction charges than conventional e-commerce. The Marketplace, deliberate for launch within the first half of 2023, can be a multi-vendor e-commerce platform supporting a big selection of enterprise sectors, together with retail, actual property, commodities, and different consumer-driven choices.
With its deliberate superior purchaser and vendor performance, third-party integrations, and enhanced safety by means of a complete purchaser and vendor pre-verification program, the Marketplace intends to supply a versatile, useful, and broad e-commerce expertise to its customers. The Firm intends for the Marketplace to be a super-app, broadly thought of as a cellular or internet software that may present a number of companies, together with cost and monetary transaction processing. The Marketplace can be accessible by means of all fashionable internet browsers and is anticipated to incorporate native iOS and Android cellular purposes that can be accessible for obtain on the Apple and Google Play Shops.
BNI has appointed veteran developer Douglas Gintz as its President and Chief Product Officer to guide the trouble. Mr. Gintz is a strategist, programmer, and marketer with broad expertise delivering know-how and content material options to a large viewers for over 30 years. Specializing in rising applied sciences, Mr. Gintz has developed e-commerce purposes, DNA reporting engines, medical billing software program, and manufacturing compliance programs for corporations starting from startups to multinational companies.
Milton “Todd” Ault, III, the Firm’s Government Chairman, acknowledged, “Our plan is to build an innovative Bitcoin-focused e-commerce platform that combines our experience in the cryptocurrency sector with our long-term philosophy of investing in disruptive technologies with a global impact. We believe the prospect of powering e-commerce with Bitcoin is a huge opportunity. The global business-to-consumer e-commerce market reached a value of $4.1 trillion in 2021, according to IMARC Group, and Pew Research Center reported that roughly three-in-ten Americans aged 18 to 29 say they have invested in, traded or used a cryptocurrency. Our goal is to deliver an innovative marketplace leveraging blockchain and other innovative technologies. We are pleased to have Douglas on our team to lead this effort.”
“I’m excited to be leading an experienced team in reinventing what it means to transact in crypto,” stated Douglas Gintz, President and Chief Product Officer of BNI. “Recently, online stores began adding crypto payment solutions to their checkout processes in response to demand, but that’s not enough. Building a platform from the ground up allows us to deliver more innovative, secure, and seamless user experiences beyond just payments.”
For extra data on BitNile and its subsidiaries, BitNile recommends that stockholders, traders, and another events learn BitNile’s public filings and press releases accessible below the Investor Relations part at www.BitNile.com or accessible at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding firm pursuing development by buying undervalued companies and disruptive applied sciences with a world impression. By way of its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a knowledge heart at which it mines Bitcoin and offers mission-critical merchandise that assist a various vary of industries, together with oil exploration, protection/aerospace, industrial, automotive, medical/biopharma, karaoke audio gear, lodge operations and textiles. As well as, BitNile extends credit score to pick out entrepreneurial companies by means of a licensed lending subsidiary. BitNile’s headquarters are situated at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
This press launch comprises “forward-looking statements” throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements typically embrace statements which are predictive in nature and rely on or discuss with future occasions or circumstances, and embrace phrases comparable to “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or related expressions. Statements that aren’t historic info are forward-looking statements. Ahead-looking statements are primarily based on present beliefs and assumptions which are topic to dangers and uncertainties. Ahead-looking statements communicate solely as of the date they’re made, and the Firm undertakes no obligation to replace any of them publicly in mild of latest data or future occasions. Precise outcomes may differ materially from these contained in any forward-looking assertion on account of numerous elements. Extra data, together with potential danger elements, that might have an effect on the Firm’s enterprise and monetary outcomes are included within the Firm’s filings with the U.S. Securities and Alternate Fee, together with, however not restricted to, the Firm’s Kinds 10-Ok, 10-Q and 8-Ok. All filings can be found at www.sec.gov and on the Firm’s web site at www.BitNile.com.
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