INSUBCONTINENT EXCLUSIVE:
Highly-prized domain name Crypto.com has been sold!
Registered in 1993 by Matt Blaze, a professor of computer and informationscience at
theUniversity of Pennsylvania who sits on the board of directors of the Tor Project, the domain has attracted a vast amountof interest as
you&d expect given the explosion of crypto in recent years
However, Blaze has turned down all offers.
In January, Blaze repeated that the domain was ¬ for sale& and that people shouldn&t both to
contact him— as The Verge noted — however fast forward to July and he has parted with it after Monaco, a crypto project best-known for
developing a crypto debit card, bought the domain in an undisclosed deal.
Experts told The Verge that Crypto.com could have attracted as
much as $10 million, however Monaco CEOKris Marszalek declined to go into the specifics.
&If it was only about money he&d have sold it a
long time ago,& he told TechCrunch in an interview.
Hong Kong-based Monaco ICO finished in June 2017 with the company raising what was then
worth $25 million in crypto
Fast forward today andMarszalek said the firm has close to $200 million on its balance sheet thanks to a surge in the valuation of
cryptocurrencies like Ether, but hesuggested that, more than money, the sale was about finding the right home for the domain.
&This is a
very powerful identity that we are taking on
It representative of the entire category so it comes with a huge responsibility on us to carry the torch
We don&t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher
purpose,& he said.
&Fundamentally, blockchain and crypto will enable [the next generation] to control their money, to control their data and
to control their identity, these are the three fundamental things that weave the fabric of society
For us this is the purpose, we want to acceleration the world adoption of cryptocurrency,& he added.
The splashypurchase of the domain is
part of a rebrand for Monaco that will see the parent company become Crypto.com and its Monaco services — which theupcoming Visa card,
peer-to-peer transfer and a wallet app — become MCO, the same name as the company cryptocurrency.
The Monaco card itself just entered
testing for a small group of users, primarily the MCO team, andMarszalek said it will be available for all customers in Singapore and Europe
this summer, with a rollout for those in the U.S
That covering a backlog of over 70,000 waiting users, but the company has sweetened the appeal of a card for new people by adding a number
of perks, most notably cashback on transactions and a concierge, which vary based on the level.
At around $7 per MCO token, the commitment
The top of the range ‘Obsidian Black,& which has the highest rate of cashback and perks, requires a customer to hold around $350,000 in
However, there a selection to cater to different budgets.
MCO is well-known for its card project, which has been two years in the making
and it captured the attention of early crypto enthusiasts, butMarszalek said the company is cooking up other services in a bid to offer a
more rounded product line
(That also explains the rebrand.) Among things to expect, he said MCO is opening to introduce lending that uses crypto as collateral, a
low-rate credit service, and a robo trading investment feature.
Note: The author owns a small amount of cryptocurrency
Enough to gain an understanding, not enough to change a life.
