BitNile is a crypto mining company that plans to launch an online marketplace.
This platform will feature exclusive goods and experiences that you can buy with bitcoin.
The marketplace will go live on March 1, 2023. According to a Tuesday (Dec. 27) press release, the company invites shareholders and the general public to register before that launch.
“This has taken many years to make and we are proud of the progress that BitNile President Douglas Gintz, Chief Product Officer and his team have made. We look forward to being the premier destination for exclusive goods and VIP experiences,” Milton “Todd” Ault III stated in the release.
BitNile is a diversified holding company that focuses its efforts on the acquisition of undervalued businesses as well as disruptive technologies. According to the release, BitNile’s businesses include a data center that mines bitcoins and provides mission critical products for many industries. It also has a licensed lending subsidiary that provides financial assistance to entrepreneurs.
BitNile, as PYMNTS reported in April, announced that it would fund commercial loans of up to $100,000,000 for publicly traded small companies. These loans will be secured by bitcoin. Digital Power Lending, BitNile’s subsidiary was responsible for this.
According to PYMNTS Tuesday, 35% prefer merchants that allow crypto to be accepted. 26% said they would switch merchants to accept crypto.
23% of everyday consumers said that they would prefer merchants who accept crypto.
Even though tech-driven consumers are only 15% of the total consumer market, their decisions about technology often set the stage for mainstream consumer behavior over the next several years. According to “Shopping with Cryptocurrency” a collaboration between BitPay and PYMNTS.
Merchants need to pay close attention to how consumers use tech and how it affects their willingness or inability to use cryptocurrency at checkout to convert a large cross-section of their consumer market.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
