Cryptocurrency payments company Monaco has purchased the highly-coveted domain name Crypto.com for an undisclosed amount of money. Domain name selling expert Niko Younts says that Crypto.com is worth between USD 5 million and USD 10 million, possibly making this the largest crypto-related domain name purchase in history.
Other examples of extremely expensive crypto domain name purchases are Eth.com which sold for USD 2 million, Btc.com which sold for USD 1.1 million, and Block-chain.com which sold for USD 1 million. Ethereum.com has an asking price of USD 10 million, and Blockchain.us is on sale for USD 3.45 million. As of now though, it would seem Crypto.com is the most expensive crypto-related domain name purchase in history based on expert analysis, although this can’t be confirmed since Monaco hasn’t disclosed how much it spent on the domain.
Crypto.com was registered in 1993 by Matt Blaze, a professor at the University of Pennsylvania who is on the board of directors of the Tor project, which is an anonymous and cryptographically secure platform for surfing the internet. This domain was purchased 16 years before the genesis block of Bitcoin.
Matt Blaze actually did not want to sell Crypto.com despite numerous offers in the past. In September 2017 and January 2018, he posted on Twitter that he was not considering offers for Crypto.com. The CEO of Monaco, Kris Marszalek, says the deal wasn’t about money for Matt Blaze, or Crypto.com would’ve been sold a long time ago.
Monaco offers Visa-branded cryptocurrency debit cards. These cards are connected to a cryptocurrency wallet that can hold several different cryptocurrencies, and these cryptocurrencies can instantly be converted to fiat at market rate when withdrawing cash from an ATM or making a purchase from a store.
Since these debit cards are backed by Visa, they are accepted almost everywhere. This is seen to be beneficial for the global spread of cryptocurrency, and is much more efficient and cost-effective than cryptocurrency ATMs which charge high fees. In fact, some of the Monaco crypto debit cards offer cash back from 1% to 2%.
Monaco has a native cryptocurrency, MCO, which is quite active with daily trade volume in excess of USD 20 million and a market cap of USD 138 million, indicating that the use of Monaco’s platform is already becoming widespread.
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