• Ault Alliance and Ecoark Holdings have signed a share exchange agreement for the acquisition of BitNile.com, Inc. by Ecoark for $100 Million in Stated Value of Preferred Stock.
• BitNile.com will launch a metaverse super-app that runs entirely in the web browser with no pixel streaming.
• The Platform is estimated to target online retail/ecommerce market, collectibles marketplace, and global online gaming market which are estimated to be worth $6.3 trillion, $426 billion and $63 billion respectively.
Ault Alliance & Ecoark Holdings Sign Share Exchange Agreement
Ault Alliance, Inc., (NYSE American: AULT) and Ecoark Holdings, Inc., (NASDAQ: ZEST) announced today that they have entered into a share exchange agreement whereby Ecoark will acquire 100% of the outstanding equity of Ault Alliance’s subsidiary BitNile.com, Inc. (“BitNile.com”).
Launch Of Metaverse Super-App
BitNile.com’s metaverse platform will launch on March 1, 2023 and represent an evolution of how people interact digitally with a bidirectional connection to the physical world without requiring pixel streaming technology or any other hardware device requirement. This platform is expected to incentivize users through a tiered rewards system supported by a revenue and reward model while allowing them to participate in the metaverse with unique avatars and customized skins on any internet connected device including mobile phones and tablets as well as desktop computers or laptops..
Market Size & Addressable Marketplaces
According to Statistica estimates, the metaverse market is projected to reach $55 billion in 2023 and its reach is projected to be 700 million people by 2030; additionally eMarketer estimates that the online retail/ecommerce market is worth around 6 trillion dollars while Market Decipher estimates that the collectibles marketplace amounts up to 426 billion dollars finally Grand View Research puts forward an estimate of 63 billion dollars for global online gaming market which makes these 3 markets as addressable ones for this platform’s technology powered by proprietary software from third party providers which has scalability capabilities if needed in future..
The Platform will allow users access various forms of entertainment such as slot machines, sports books, Texas Hold’em tournaments etc along with providing them ability purchase digital or physical products within the same metaverse structure making their overall experience more enjoyable than ever before..
This Agreement provides an opportunity for both companies involved – Ault Alliance & Ecoark Holding -to expand their business operations further into one of most promising technological sector – Metaverses -which has been gaining traction across multiple industries since past few years now due its potential ability provide immersive user experiences through virtual reality content . It also enables investors gain exposure this sector’s growth potential larger returns over time .