Monaco Purchases Iconic Domain Name, Rebrands as Crypto.com
With the increasing interest in the crypto Industry, the efforts to possess the domain crypto.com, worth millions of dollars, had reasonably risen. Until now, however, domain owner Matt Blaze, a computer science professor at Pennsylvania University, had rejected all offers.
Crypto.com Finds a New Home
Incessantly, the professor kept on reminding the world that he was not looking forward to selling the domain. Moreover, he asked and requested the interested buyers not to vest efforts to contact him regarding the sale. However, this July Blaze shocked everyone when he decided to sell the domain to Monaco.
Monaco, a digital currency project that is well-recognized for its developmental works in Cryptocurrency debit card, was the fortunate buyer of the domain. The news of a possible sale was not publicized, and the exchange was unexposed to the general media until now.
As per resources, crypto.com could fetch a hefty price of $10 million. However, the delegates of Monaco refused to enlighten about the specific sum of money and preferred to keep it uncovered. The Chief Executive Officer of Monaco Kris Marszalek believes that had it been all about the cash, the domain would have been sold a long time back.
In June 2017, Monaco’s Initial Coin Offering was completed, and the organization raised $25 million worth of cryptocurrency. Today, Monaco proudly holds $200 million on its balance sheet. The surge has resulted mainly because of Ether’s upheaved prices.
What’s Next on Charts for Monaco?
“This is a compelling identity that we are taking on. It’s 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,” said Marszalek.
Marszalek further stated that cryptocurrency would take control over the money, data and eventually the identities. Hence, Monaco wants to accelerate this process of global crypto adoption. Monaco will gradually rebrand itself since the parent organization will turn into crypto.com and the Monaco services, that is, P2P transfers, wallet applications will become MCO.
The Crypto debit card project has fetched tremendous acclaim and praise. The project took two year’s worth of wait to actualize finally. Nonetheless, crypto fanatics from all over the globe were boosted and enthusiastic about the outcome of the project.
However, as stated by Marszalek, the organization is planning other service lines to promote a better product range. The company will soon launch the lending services that make use of cryptocurrency as a collateral, low-rate money service and a pivotal investment opportunity.