Domain names are critical when it comes to establishing a brand identity. When it comes to the world of cryptocurrencies, ‘Crypto.com’ was a domain name which many had their eyes on, but never managed to acquire for 25 years. Matt Blaze, a security researcher and the professor of computer and information science at the University of Pennsylvania held the domain since 1993. However, Blaze has finally sold the domain to a cryptocurrency project working towards crypto debit cards.
The domain name has been sold to MCO Technology GmbH, the parent company of Monaco, which is working towards developing a cryptocurrency debit card. Blaze, who owned this domain for almost a quarter of a century had been asked several times to sell the domain – particularly over the past decade as cryptocurrencies began to emerge and get popular.
Blaze had been reluctant to sell the domain for years. Six months ago he had requested people via a Tweet to not contact him for the crypto.com domain name as it was “not for sale”. However, it appears that he was made an offer that he simply couldn’t refuse. The financial details of this deal haven’t been disclosed.
Estimates, however, indicate that the domain’s ideal worth should easily be greater than $10 Million. CEO of Monaco, Kris Marszalek refused to comment on the commercial details of the deal but stated that this was not about the money as “If it was only about money Matt (would) have sold it a long time ago”.
Kris commented that acquiring this domain name would provide the company a huge boost in terms of their identity and branding. He commented that the firm owns assets worth $200 Million and the domain is at the right place with them. In June last year during an ICO funding round, the firm raised $25 Million.
“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”.