BitNile.com and Ed Carpenter Racing Commemorate 107th Running of the Indianapolis 500 With Sweepstakes and Virtual Brickyard Driving Event

Race Fans Can Visit BitNile Metaverse to Drive a Virtual Racecar the Length of Indianapolis Motor Speedway and Enter for a Chance to Win a Real-World Two-Seater Experience, NTT INDYCAR SERIES Tickets, Merchandise, and In-Game Currency

INDIANAPOLIS, May 26, 2023 (GLOBE NEWSWIRE) — BitNile Metaverse, Inc. (Nasdaq: BNMV) (“BitNile Metaverse” or the “Company”), the company operating the rapidly growing virtual world, BitNile.com (the “Platform”), and Ed Carpenter Racing, LLC (“Ed Carpenter Racing”) are celebrating their cars’ promising starting positions in the 2023 Indianapolis 500 by offering race fans a unique virtual driving experience, as well as a chance to win virtual prizes and real-life racing experiences.

Ed Carpenter Racing will field three BitNile.com Chevrolets in the 107th running of the Indianapolis 500. The No. 21 BitNile.com Chevrolet, driven by Rinus VeeKay, claimed a front-row start in the second position. Starting in the fifth row is Ed Carpenter in the No. 33 BitNile.com Chevrolet, while the No. 20 BitNile.com Chevrolet, driven by Conor Daly, begins the race from row six.

Visitors to BitNile.com can take a virtual No. 20 BitNile.com Chevrolet for a drive on a full-size replica of the Indianapolis Motor Speedway, where they will have a first-person virtual experience of racing at full speed around the track.

Additionally, fans who visit https://indy500.bitnile.com are invited to join the “Pick the Winner – Be a Winner” promotion. Those accurately selecting the 2023 Indy 500 victor will receive 100,000 Nile Tokens for use on the Platform. Participants who successfully predict all three podium finishers in the correct order will earn 500,000 Nile Tokens. All winners will be automatically entered into a drawing for BitNile.com race team prizes, such as an IndyCar experience two-seater ride, NTT INDYCAR SERIES event tickets, race team merchandise, and driver memorabilia.

“We are so proud of the strong starting positions of all of the Bitnile.com cars, especially Rinus VeeKay’s first-row placement,” said Milton “Todd” Ault, III, Executive Chairman of BitNile.com, Inc., the wholly owned subsidiary of the Company that owns and operates the Platform. “We’re offering these unique experiences and prizes to celebrate the fact that we are the only primary sponsor with three cars in the race.”

In honor of Conor Daly’s 10th start at the Indy 500, his No. 20 BitNile.com Chevrolet – the first IndyCar to reveal its livery in the metaverse – features dice on each sidepod that add up to 10. The design includes a roulette wheel and playing cards that incorporate Conor’s No. 20. The No. 21 and No. 33 cars display the traditional BitNile.com branding.

The Platform, with over 1,400,000 engaged users, recently debuted social gaming with the launch of roulette, offering users an opportunity to play for fun or real money prizes through a sweepstakes model. Sweepstakes are only open to residents of the United States (other than residents of Idaho and Washington) who are at least 18 years old or the age of majority in their jurisdiction (whichever occurs later) at the time of entry. Participation is void where prohibited by law.

Users can access and explore the early-access version of the Platform and receive updates by visiting https://BitNile.com.

The Platform uses Google Analytics to track usage and identify users. A user is considered to be “engaged” if one of the following conditions is met: the session lasted longer than ten seconds; it resulted in one or more conversion events; or it resulted in two or more page/screen views.

NO PURCHASE NECESSARY. VOID WHERE PROHIBITED. Open to residents of the 50 United States and DC (excluding Idaho and Washington) who are 18+ and have an active account with BitNile.com. Begins 12:01 a.m. EST 5/19/23 and ends 09:00 a.m. EST 5/28/18. To enter, visit https://indy500.bitnile.com and guess the winner of the 2023 Indianapolis 500. All eligible entrants with accurate guesses will be eligible to win. 10 winners will receive a ticket to a NTT IndyCar Series race and 2 of such winners will also receive a two-seater ride around the track at the applicable event. 20 additional winners will receive a jersey, and 50 additional winners will receive a cooling towel. ARV of all prizes $3950. For full Official Rules, visit https://bitnile.zendesk.com. Sponsor: BITNILE.COM Inc.

About BitNile Metaverse, Inc.

Founded in 2011, BitNile Metaverse (Nasdaq: BNMV) owns 100% of BitNile.com, Inc., including the BitNile.com metaverse platform. The Platform, which went live to the public on March 1, 2023, allows users to engage with a new social networking community and purchase both digital and physical products while playing 3D immersive games. In addition to BitNile.com, Inc., BitNile Metaverse also owns three non-core subsidiaries either directly or indirectly: approximately 66% of Wolf Energy Services Inc. (OTCQB: WOEN) indirectly; 100% of Zest Labs, Inc. directly; and approximately 89% of Agora Digital Holdings Inc. directly. BitNile Metaverse also owns approximately 70% of White River Energy Corp (OTCQB: WTRV).

About Ed Carpenter Racing

Ed Carpenter Racing first entered the NTT INDYCAR SERIES in 2012. The Indianapolis-based race team has proven its versatility by collecting eight wins across each type of track the series competes on – street and road courses, short ovals and speedways. Ed Carpenter Racing is led by IndyCar’s only team owner/driver, Ed Carpenter, three-time pole winner for the Indianapolis 500 (2013, 2014 and 2018). The 2023 season has the team continue to compete with two full-time entries: the No. 20 BitNile.com Chevrolet with Conor Daly behind the wheel and the No. 21 BitNile.com Chevrolet, driven by Rinus VeeKay. Ed Carpenter will round out the team’s three-car effort on the ovals, campaigning the No. 33 BitNile.com Chevrolet. More information may be found at https://www.edcarpenterracing.com/.

Forward-Looking Statements

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 upon 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 BitNile Metaverse will not 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 acceptance of the Platform by individuals, competition with much larger companies operating metaverses and BitNile Metaverse’s ability to raise capital, investors should review risk factors, that could affect BitNile Metaverse’s business and financial results which are included in BitNile Metaverse’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, Forms 10-K, 10-Q and 8-K. All such filings are available at https://www.sec.gov/ and on the Company’s website at https://BitNile.net.

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