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July 06, 2018

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Never Say Never! Crypto.com Owner Decides to Sell After All - Multi-Million $ Domain Goes to Monaco

Never say never! Less than 3 months ago we told you about how Crypto.com owner Matt Blaze had gotten so tired of getting unsolicited offers for his extraordinarily valuable domain he declared the name was not for sale at any price and people should just stop trying to change his mind. Blaze, a professor at the University of Pennsylvania, had also made it clear that he was especially not interested in seeing anyone use the name for cryptocurrency purposes, having once stated, "many cryptocurrencies are scams, and I strongly advise against their use as investment vehicles."

What a difference 90 days - and a presumably gargantuan payday - can make. TechCrunch reported today that Monaco, a company that plans to issue a crypto Visa Card, had acquired Crypto.com from Blaze for an undisclosed price. With the purchase of Crypto.com Monaco is also rebranding itself as

Former Crypto.com Owner Matt Blaze
(Photo from Twitter)

MCO to match the name of the cryptocurrency it issues. News of the transaction triggered rampant speculation as to what the selling price was with the most common guess appearing to fall in the $5-$10 million range. Others, pointing to Blaze's reluctance to sell, think it took more than that to get the deal done.

Image from Bigstock

Blaze has not commented on the transaction and Monaco CEO Kris Marszalek would only tell TechCrunch "If it was only about money he’d have sold it a long time ago," suggesting Blaze decided that Monaco was the right home for the name he has owned since registering it in 1993. Some believe that statement may also indicate that Blaze had gotten some equity as well as cash in the deal. 

Whatever the financial arrangements were it appears Monaco can easily afford the acquisition.  TechCrunch reported, "Monaco’s ICO finished in June 2017 with the company  

raising what was then worth $25 million in crypto. Fast forward to today and Marszalek said the firm has close to $200 million on its balance sheet thanks to a surge in the valuation of cryptocurrencies."

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