NTT INDYCAR SERIES Event at Portland International Raceway Named the BitNile.com Grand Prix of Portland

BitNile Metaverse, Inc. (NASDAQ:BNMV) ("BitNile Metaverse" or the "Company"), announces that BitNile.com has been announced as the title sponsor, providing naming rights, for the annual NTT INDYCAR SERIES event at Portland International Raceway ("PIR"), Sept. 1-3, 2023. The Labor Day weekend motorsport festival headlined by the 110-lap penultimate race of the NTT INDYCAR SERIES season will be called the "BitNile.com Grand Prix of Portland."

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BitNile.com Grand Prix of Portland 2023 Labor Day Weekend 2023 at the annual NTT INDYCAR SERIES event at the Portland International Raceway ("PIR"), held Sept. 1-3, 2023. For all ticket pricing, grandstand locations and additional festival information, visit portlandgp.com. Stay up to speed on the BitNile.com Grand Prix of Portland on social media all year long by following #PortlandGP

Starting at 10:00 a.m. PT tomorrow, Aug. 2, 2023, single-day tickets go on sale for the three-day event at PIR featuring 10 total races from five different series. Ticket prices start as low as $25 for single-day general admission and $70 for single-day grandstand seats. Three-day tickets remain available for purchase and offer the best value. Fans should visit portlandgp.com to buy tickets for the BitNile.com Grand Prix of Portland weekend.

BitNile.com, owned by BitNile Metaverse, is a rapidly growing virtual world with over 1.4 million engaged users. Earlier this year, the platform debuted social gaming with the launch of roulette, offering users an opportunity to play for fun or real money prizes, and the site also allows gamers the opportunity to drive on virtual racetracks including the Indianapolis Motor Speedway. BitNile.com also sponsors Ed Carpenter Racing, an NTT INDYCAR SERIES team that will be represented by Indianapolis 500 winner Ryan Hunter-Reay and Rinus VeeKay in the BitNile.com Grand Prix of Portland.

"I firmly believe that the BitNile.com Grand Prix of Portland embodies the essence of innovation and technology, mirroring the cutting-edge nature of the metaverse world we operate," stated Milton "Todd" Ault III, Executive Chairman of BitNile.com. "By sponsoring this thrilling event at Portland International Raceway, we aim to share our passion for technological advancement with the world, creating an electrifying experience for IndyCar fans both at the track and in the metaverse."

The 2023 BitNile.com Grand Prix of Portland marks the 29th running of this event, adding to the rich history of open-wheel racing in the Rose City. The NTT INDYCAR SERIES headlines the weekend and takes the green flag Sunday, Sept. 3, in a late-season race that could decide and finalize the championship chase. The series points leader after the completion of the past four Portland rounds (2018, 2019, 2021 and 2022) has gone on to claim the NTT INDYCAR SERIES championship.

"We are thrilled to welcome our new title sponsor and partner BitNile.com to the team!" said Jerry Jensen, general manager of Green Savoree Portland, which owns and operates the event at PIR. "BitNile.com is already such a great supporter of IndyCar racing through their sponsorship of Ed Carpenter Racing. With this new partnership, we look forward to growing this event, building off a strong foundation of classic IndyCar races dating back to 1984, with invaluable support from BitNile.com."

This year's field will feature returning race winners Scott McLaughlin (2022), Alex Palou (2021) and Will Power (2019). The grid will boast other notable drivers such as 10-year Formula One veteran Romain Grosjean and, including Power, eight Indianapolis 500 winners: this year's winner Josef Newgarden, four-time winner Helio Castroneves, 2008 winner and six-time NTT INDYCAR SERIES champion Scott Dixon, Marcus Ericsson, Ryan Hunter-Reay, Simon Pagenaud and Alexander Rossi.

The three top open-wheel development series that feed into the NTT INDYCAR SERIES will also race at PIR on Labor Day weekend. INDY NXT will battle on Sunday, Sept. 3, for 35 laps on the 1.964-mile, 12-turn permanent road course. Drivers from USF Pro 2000 Presented by Cooper Tires and USF2000 Presented by Cooper Tires will contend for championships as both series conclude their seasons with tripleheader races across the weekend. Additionally, the U.S. Touring Car Championship will add exciting sports car action to the event lineup.

Children 12 and under receive free general admission to the event. This also includes complimentary access to the NTT INDYCAR SERIES Paddock throughout the weekend when accompanied by a ticketed adult. PIR is located less than a tenth of a mile from a public transit stop - the Delta Park/Vanport MAX Station on TriMet's MAX Yellow Line - making a trip to the track exceptionally affordable for families.

For all ticket pricing, grandstand locations and additional festival information, visit portlandgp.com. Stay up to speed on the BitNile.com Grand Prix of Portland on social media all year long by following #PortlandGP.

For more information on BitNile Metaverse and its subsidiaries, BitNile Metaverse recommends that stockholders, investors, and any other interested parties read BitNile Metaverse's public filings and press releases available under the Investor Relations section at www.BitNile.net or available at www.sec.gov.

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 BNC, 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).

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 www.sec.gov and on the Company's website at www.BitNile.net.

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