Market Cap: $3,811,914,659,354
24h Vol: $95,467,003,561
Cryptocurrencies: 27289
Markets: 108940
Cryptocurrencies: 27289
Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Seeking Alpha 2023-02-09 16:11:26

Ecoark to acquire metaverse platform BitNile.com from Ault Alliance

Ecoark to acquire metaverse platform BitNile.com from Ault Alliance
Ault Alliance ( NYSE: AULT ) said Thursday diversified holding company Ecoark will acquire its unit BitNile.com in exchange for Ecoark preferred stock with stated value of $100M. The preferred stock will be convertible into Ecoark shares and accrue dividends of 5% per annum for 10 years. Once the deal closes, Ault ( AULT ) will be able to convert and vote up to 19.9% of Ecoark's issued and outstanding shares. At closing, BitNile.com will own Ault's ( AULT ) 19.9% stake in cryptocurrency platform Earnity. BitNile.com's metaverse platform, which will launch on March 1, will incentivize users through a tiered rewards system supported by a revenue and reward model. At launch, the platform will be in beta format and not all experiences and functionality will be available immediately. The BitNile.com acquisition is expected to be completed this month. Earlier, BitNile chairman's Ault Alpha firm amassed 13% stake in the company .
esptco-banner img
Latest News

Videos

  • Brave Browser Review 2022: Why Brave Browser is Good for Crypto?

  • A Beginner Guide to Web 3.0: Everything You Need to Know About Web 3.0!

  • Top 5 Crypto Exchanges 2022: Best Crypto Exchanges to Work With!

  • 10 Ways to Make Money Via Crypto | Step by Step Guide to Make Money Online!

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire