The Nametoken ICO will create a decentralized domain name ecosystem and will launch an ICO on 1st of August 2017. 90% of the tokens will be made available for investors.
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Nametoken (NAT) which aims to provide a platform for investment in Internet domain names is set to begin their crowdsale on the 1st of August. It will last until September 30, 2017. The team behind the project have a domain name background with over 20 years experience both in the domain trading business and in developing applications.
The company’s founders, Frank Menze and Jens Peterssen have previously traded domains worth several million US Dollars. Furthermore, they have successfully launched e-commerce projects that have generated several million US dollars in sales.
During the ICO, NAT tokens will be available for purchase with Bitcoin, Ethereum, or Litecoin. It is recommended that investors use either Mist, MyEtherWallet, Metamask or Parity to receive purchased tokens.
Domain Name Marketplace
Nametoken’s Ethereum blockchain-based platform will enable users to buy and sell domain names securely and efficiently. All transactions between buyers and sellers are handled through smart contracts, allowing for fast automated payments and fulfillment. Because the platform is decentralized, users will realize significant savings on transaction fees typically associated with buying and selling domain names.
Users of the platform will be able to monetize their portfolios and earn Nametokens by registering, listing, buying, selling and parking domain names. The real ‘secret weapon’ in Nametoken’s arsenal, however, will be their proven domain appraisal algorithm which, when combined with user generated data, will mean only interesting and relevant domain matches will be shown to domain buyers.
The Nametoken team cannot guarantee exactly which exchanges the tokens will be traded on once the ICO has ended, however, they have confirmed that they are currently in negotiations with multiple exchanges. The FAQ section on Nametoken’s website does say that the token will definitely be listed on at least several exchanges within 8 weeks after the ICO ends on September 30th.
Buying the tokens on an exchange will be the only option for U.S. citizens who are not allowed to invest in the ICO due to U.S. law.
As can be seen from the chart above, taken from Nametoken.io, the sale and distribution of the tokens will be very fair with the team keeping just 7% of the available tokens, allowing 90% to be made available to investors. The remaining 3% will be earmarked for advisory and legal matters. This sets Nametoken apart from other less fair ICO launches in which a far greater percentage of the initial tokens were kept in reserve for the company and its founders.
Revenue from the tokens and trading of domains will also be distributed according to the “Intended use of revenue” graph (shown above). It’s a very keen commitment to transparency in their operation and as can be seen; 40% will be reinvested back into Domain investment, with 30% going to ongoing development and 18% to marketing.
Will you be taking part in the token sale? Are you currently a domain name investor? Let us know in the comments below.
Images courtesy of Nametoken, ShutterstockShow comments