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The blockchain has widespread implications for many different businesses. It brings distributed ledgers and decentralization to a world badly in need of it. One area that benefits immensely from blockchain adoption is domain and hosting applications. The project known as nametoken is looking to take this world to the next step of an entire domain ecosystem.
The First Domain Ecosystem
While many mightĀ not think about it on a day-to-day basis, the trading and hosting of domains is an insanely lucrative business. If you want to start a business nowadays, you need to have a domain name that corresponds to your business. This creates a high demand for various domain names, and higher demand means higher prices.
Ever heard ofĀ premium domains? These domains can go for ludicrous amounts of money. One famous example is insurance.com which sold for US$35.6 million back in 2010.
nametokenĀ is looking to invest in domain names and grow the wealth of those domains. With its upcoming ICO, the projectĀ believes that it will help add value to an existing market and sell domainsĀ for profit when the time comes. The team has over 20 years of experience in domain name investing, and investors will get the opportunity to participate in that market with them.
nametoken will also provide a decentralized web hosting service thatĀ will be affordable yet redundant and incredibly safe. Hosted files will beĀ split, encrypted, and published across the network to keep everything safe.
NATĀ tokens will live on the Ethereum blockchain, so we will also seeĀ utilization of smart contracts with thisĀ domain marketplace. Investors and traders will beĀ able to buy and sell various domains, and the transactions themselves will beĀ backed up by smart contracts.
But thatĀ is not the only way to monetize a portfolio usingĀ nametoken. Investors and traders will beĀ able to earn nametokens for doing things like registering, parking, listing, buying, and selling domain names.
The Roadmap
It is always good to see a project that hasĀ a roadmap. It all beginsĀ with nametokenāsĀ ICO, which is ongoing. After thatĀ comes to an end on September 30th, the team will acquire its first domain names in early October. From there, the development of the first application will take place in Q4 of this year, with beta-testing in Q1 of 2018 and the live launch in Q2 of 2018. Maps like these are helpfulĀ in letting investors know what the plan is.
The Token and the ICO
90% of the tokens will be distributed in the ICO, and nametoken wants this to be a deflationary coin. ItĀ plans to useĀ 50% of its profits to buy back and burn tokens to raise the value of the coins themselves, while the other half will go intoĀ re-investment.
Tokens will also be used as an incentive to drive mobile marketplace usage. Unsold coins will be stored and used as a reward system for use inĀ the marketplace.
Check out the project here: https://www.nametoken.io/
This is not investment or trading advice; always conduct your own independent research prior to investing in anything.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.