Crypto Visa card company Monaco bought Crypto.com domain for millions
Crypto.com, the highly prized domain has been sold. The domain attracted the boundless amount of interest from all over the world for quite a long time.
The domain was registered by Matt Blaze in 1993. He is a professor of computer and information science at the University of Pennsylvania and the board of directors of the Tor Project.
Blaze was not ready to sell the domain to anyone. Also, he declared in January that the domain was “not for sale” and people shouldn’t contact him regarding this. But later in July when Monaco, a crypto project well known for crypto debit card development, purchased the domain in an undisclosed deal.
According to the reports from the experts, the domain name Crypto.com attracted $10 million interests. However, CEO of Monaco, Kris Marszalek did not reveal many specifications.
Kris revealed to sources in an interview, “If it was only about money he’d have sold it a long time ago.”
The firm finished its ICO in June 2017 and the company raised $25 million in crypto worth during that time. In today’s market scenario it will worth nearly $200 million on its balance sheet, sources reports. Kris mentioned that the main aim of the firm was to find a right place for the domain.
He said, “This is a very powerful 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.”
He further added,“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’s adoption of cryptocurrency.”
The parent company will now be rebranded as Crypto.com and its Monaco services — which the upcoming Visa card, peer-to-peer transfer, and a wallet app — become MCO, the same name as the company’s cryptocurrency.
The Monaco card is in the beginning stage of testing for a small group of users primarily the MCO team and it will be made available for all customers in Singapore and Europe this summer, with a rollout for those in the U.S. likely in Q4. The firm has tried to add some more facilities to the new card by adding cash back on transactions and a concierge. For an individual to enjoy the perks of a top of the range ‘Obsidian Black’ category, one should hold around $350,000 in MCO tokens. The firm will cover an excess of over 70,000 waiting users.
MCO is exploring possibilities in other services in an attempt to provide a better and well-developed product line that includes rebranding as well. The firm is in the early stage to launch lending that utilizes crypto as collateral, a low-rate credit service, and a robo trading investment feature.
Image via Shutterstock
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