Cryptocurrency platform Monaco has rebranded itself as “Crypto.com” as it was finally able to buy out the domain name.
Monaco is now Crypto.com
According to insider info, the domain name might have cost Monaco around $5 to $10 million, noting that the term “crypto” is a big deal from the marketing perspective of industry leaders. For now, the real cost of the domain name has not been made public yet and Manaco CEO Kris Marszalek has refused to provide any information on the matter.
The domain name was registered way back in 1993, even before bitcoin or cryptocurrencies emerged. Matt Blaze, a computer and information science professor from the University of Pennsylvania, owned the domain name then.
Blaze said he has received plenty of offers for the domain name over the past few years, but he has repeatedly stood by his words that Crypto.com was “not for sale”.
However, Blaze agreed to sell the domain name to Monaco, a cryptocurrency platform that provides wallet and exchange services. The company is also currently working on a crypto-backed debit card in cooperation with Visa.
While the exact amount of the purchase for the domain name was not released, Monaco’s CEO said money was not the main catalyst for the deal. The sale was more on finding the right home for the domain. “If it was only about money, he’d have sold it a long time ago,” he added.
“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.”