LAS VEGAS–(BUSINESS WIRE)–BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile“or the”Company”), today announced that its subsidiary, BitNile, Inc. (“BNI”), began the development of a Bitcoin-based market platform (“Market”), which plans to leverage blockchain and other emerging technologies. BNI believes the Marketplace will reduce the complexity of Bitcoin transactions and result in lower transaction fees than traditional e-commerce. The Marketplace, slated for release in the first half of 2023, will be a multi-vendor e-commerce platform supporting a wide range of industries, including retail, real estate, commodities and other consumer-oriented offerings.
With its advanced features planned for buyers and sellers, third-party integrations and enhanced security through a comprehensive buyer and seller pre-verification program, Marketplace aims to provide a flexible, functional and expansive e-commerce experience to its users. . The Company wants the Marketplace to be a super-app, widely regarded as a mobile or web-based application that can provide multiple services, including payment and financial transaction processing. The Marketplace will be accessible through all modern web browsers and is expected to include native iOS and Android mobile apps which will be available for download from the Apple and Google Play Stores.
BNI appointed veteran developer Douglas Gintz as president and chief product officer to lead the effort. Mr. Gintz is a strategist, programmer and marketer with extensive experience in delivering technology and content solutions to large audiences for over 30 years. Specializing in emerging technologies, Mr. Gintz has developed e-commerce applications, DNA reporting engines, medical billing software and manufacturing compliance systems for companies ranging from startups to multinationals.
Milton “Todd” Ault, III, Executive Chairman of the company, said, “Our plan is to create an innovative Bitcoin-focused e-commerce platform that combines our experience in the cryptocurrency industry with our philosophy. long-term to invest in disruptive technologies with global impact. We believe the prospect of powering e-commerce with Bitcoin is a huge opportunity. The global business-to-consumer e-commerce market has reached a value of 4, $1 trillion in 2021, according to the IMARC group, and the Pew Research Center reported that about three in ten Americans between the ages of 18 and 29 say they have invested in, traded in, or used a cryptocurrency.Our goal is to provide a innovative market leveraging blockchain and other innovative technologies.We are thrilled to have Douglas on our team to lead this effort.
“I am thrilled to lead an experienced team that is reinventing what it means to transact in crypto,” said Douglas Gintz, President and Chief Product Officer of BNI. “Recently, online stores have started adding crypto payment solutions to their checkout processes in response to demand, but this is not enough. Building a platform from the ground up allows us to deliver user experiences more innovative, secure and transparent beyond simple payments.”
For more information about BitNile and its subsidiaries, BitNile recommends that shareholders, investors and any other interested parties read BitNile’s public documents and press releases available in the Investor Relations section of www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued companies and disruptive technologies with global impact. Through its wholly and majority owned subsidiaries and strategic investments, BitNile owns and operates a data center in which it mines Bitcoin and provides mission-critical products that support a wide range of industries, including mining petroleum, defense/aerospace, industrial, automotive, medical/biopharmaceutical, karaoke audio equipment, hotel and textile operations. Additionally, BitNile extends credit to certain entrepreneurial businesses through an approved lending subsidiary. BitNile’s corporate headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
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 on 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 them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement due to a variety of factors. Further information, including potential risk factors, that could affect the Company’s business and financial results is included in the Company’s filings with the United States Securities and Exchange Commission, including, but without limitation, Company Forms 10-K, 10-Q and 8. -K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.