Nametoken, which goes by the symbol NAT, is a decentralized domain ecosystem. Find out everything you need to know about Nametoken today in our review.
What Is Nametoken?
Nametoken, found online at Nametoken.io, is a platform where users can buy and sell domains. The company started its initial coin offering (ICO) on August 1, 2017. During the ICO, you can purchase NAT with BTC, ETH, and LTC.
The goal of Nametoken is to launch the world’s first decentralized domain ecosystem. Using that ecosystem, investors can “supply real time input on the potential profitability a domain possesses”, explains a recent press release from the company. In more straightforward terms, Nametoken aims to create a frictionless, cryptocurrency-based marketplace where users can buy and sell domains in exchange for NAT tokens.
Users can earn additional NAT tokens by buying, selling, parking, or registering domains.
The creators of Nametoken claim to have 20+ years of experience in the field of domain registry and have earned “millions of dollars in profit” through domain registration.
How Does Nametoken Work?
Nametoken is a decentralized domain ecosystem. Because of its decentralization, Nametoken claims to offer “unlimited potential for the hosting and domain industries”. Decentralization minimizes costs, allowing users to save enormous amounts of money on domain-related transactions. Payments can be sped up and automated using the Ethereum blockchain, and all transactions are stored in redundancy.
Some of the key features of Nametoken include:
- Save thousands of dollars in fees on domain-related transactions
- Earn NAT tokens for registering, listing, parking, buying, and selling domains on the world’s first decentralized domain marketplace
- The Nametoken system is built on the Ethereum blockchain, which means central servers cannot be switched off
- All funds are stored in smart contracts, allowing for fast and automated payments, eliminating counterparty risk, and with no human intervention required
- Domain appraisal algorithm combined with user-generated big data ensures that only domains of interest will be shown to domain buyers; users can earn NAT for voting and maintaining data (Nametoken describes this feature as their “secret weapon”)
Obviously, the world of buying and selling domains isn’t new. However, Nametoken aims to take that system to a frictionless, decentralized marketplace where users can enjoy lower fees, greater efficiency, and other blockchain-related benefits.
Here are some of the core features of the Nametoken platform, including the different moving parts of the Nametoken ecosystem:
Benefit from 20+ years of domain investing expertise. High-value domains can be seen like real estate and generate extraordinary profits.
Domain investments can already be very profitable. However, the development of a project can increase the value of a domain name even more in the medium term.
Buy and sell domains on the Nametoken marketplace. Transactions between buyers and sellers are handled through smart contracts.
Register over 500 types of (g)TLDs and avoid the high fees of other domain registrars.
Nametoken splits, encrypts, and publishes your files across a decentralized cloud network. It offers highly-redundant hosting in a safe and cost-effective way.
Monetize your portfolio and earn NAT tokens for registering, listing, parking, buying, and selling domain names.
Who’s Behind Nametoken?
Nametoken is led by Founder Frank Menze and CEO and Co-Founder Jens Peterssen. Their company appears to be called Domain Media Ltd. As mentioned above, the team claims to have 20+ years of experience in the field of domain investing.
The Nametoken.io page also lists about a dozen other members of the team.
Nametoken launched its crowdsale on August 1. It’s scheduled to last until September 30. The first domain acquisitions will take place in October 2017.
The Nametoken ICO
During the Nametoken ICO, which takes place between August 1 and September 30, 90% of the total supply of tokens will be distributed. 7% of tokens will be reserved for the team, and 3% of tokens will be kept for advisory/legal purposes.
NAT is a deflationary token. 50% of all net profits will be used for buy-backs. These tokens will be burned to increase market value, while the other 50% will be re-invested.
The tokens also come with a powerful reward system, where unsold ICO tokens are stored in a reserve fund, then used for rewards through the Nametoken mobile marketplace. This is designed to increase acceptance of the app and thereby boost the value of NAT.
Nametoken is a domain exchange platform built on blockchain technology. The platform aims to create a decentralized marketplace for domain transactions. Users can exchange domains for NAT tokens.
The company was launched by a team that has 20+ years of experience in domain registration. They view domains as digital real estate – and high-value domains have always held an enormous amount of value.
Obviously, the concept of buying and selling domains is nothing new. However, Nametoken moves the concept away from centralized marketplaces towards a decentralized system with lower fees, better transparency, and more benefits for users.
Nametoken also has a unique deflationary system in place for its token, designed to ensure the value of the token rises over time (including a rewards program and a buyback program). You can learn more about Nametoken and its ICO today by visiting Nametoken.io.