Cloudname Launches $CNAME Token Listing for Its Real-time Domain Trading Platform
ZURICH, Feb. 22, 2022 /PRNewswire/ — Cloudname, the first-ever domain tokenization, fractionalization and trading platform, has announced that it will list its $CNAME token on cryptocurrency exchanges including PancakeSwap, DODO, MEXC and Gate.io. This comes after a successful Initial DEX Offering (IDO) on PolkaBridge, DODO and SynapseNetwork.
For the first time, domainers can tokenize their portfolios, and unlock new opportunities in the domain investing market
Below is the exchange listing schedule for $CNAME token.
- PancakeSwap: 17:00 UTC on Feb. 22
- DODO: 17:00 UTC on Feb. 22
- MEXC: 14:00 UTC on Feb. 24
- Gate.io: 13:00 UTC on Feb. 26
Some of the early partners of Cloudname include top crypto funds such as Ceras Ventures, YBB Foundation, DCI Group and FollowTheSeed. These players have backed successful projects such as Polkadot, Kava, Solana, Cropper, Cryowar, and a lot more.
Why Cloudname ($CNAME)?
Domain investing has been one of the internet’s highest-yielding industries, with domain names resold for thousands of dollars. Consulting firm BCG estimated that dot-com (.com) domain names sell for an average of $2,000 each in the secondary market. Still, scads of domain names sell for several thousand and even millions of dollars.
However, the growth of the domain investing market is not reflective of the high potential returns on offer. That is primarily because of some inherent limitations in how the industry is currently set up.
Most of the easy-to-spot premium domains have been snagged by early investors. As a result, it is difficult for new investors with low investment capital to build high-value portfolios.
Domain investing is also a low-liquidity venture at present. Investors typically have to wait for months and sometimes years before finding the right offers for their domains. This limits the flow of capital into the space, as most retail investors cannot afford to lock up money in assets for too long.
The Cloudname domain trading platform was built to solve these challenges.
For the first time, domain investors will be able to tokenize and fractionalize their portfolios. This could provide new investors with low capital access to premium names such as one-word domains, which are considered the prime real estate of the internet. In the end, just about anyone will be able to build a portfolio of high-value names, a reality that is currently limited to the elites of the domain trading world.
Also, blockchain makes cross-border domain trading possible in real-time. First, this will provide investors with age-old portfolios exit opportunities. In addition, real-time domain trading could bring an end to the problem of low liquidity that has long plagued the domain investing space.
About Cloudname
Cloudname is a Web 3.0 marketplace for tokenizing, fractionalizing, investing and trading both traditional and blockchain domain names as NFTs. Cloudname provides simple, yet powerful tools for discovering new domain investment opportunities as well as meaningful data to help domainers make smart decisions.
CONTACT: Aniebiet Udokang, Email: audokang@mariblock.com
SOURCE Cloudname
