BitNile Metaverse, a subsidiary of BitNile.com (BNC), has boosted its monetization efforts by generating revenue from its social gaming in-world coins and advertising sales. The company recently debuted roulette on its social gaming platform, which allows players to use a sweepstakes model to play for real money prizes.
BitNile’s platform is designed to give players the option of purchasing coin packages in varying denominations. The development has paved the way for the company to begin generating revenue, something the group considers a “significant milestone.”
BNC Executive Chairman Milton “Todd” Ault III commented, “We are elated to announce that BitNile.com has just started harnessing its potential to generate significant revenue. With the successful launch of our social casino and the comprehensive evolution of our advertising ecosystem, we are making our initial steps towards expected sustained revenue growth.
“More importantly, we are underscoring our unwavering commitment to deliver a rich, engaging metaverse experience. While it’s still early in our ramp-up cycle, there is tremendous potential for future growth. We are just getting started, and there is a world of opportunities yet to be explored.”
In addition to its platform revenue stream, the company announced that it has also brought in revenue from its advertising. The company said that this falls in line with a larger goal to monetize its metaverse platform.
BitNile said in a statement, “The strategy entails personalized advertising and partnerships with popular ad networks. The unique advertising ecosystem developed within BitNile.com’s metaverse offers marketers exposure to an actively engaged audience, thus boosting ad revenue.”
