Monaco (MCO) is one of the crypto spending card projects that had a glitch-free launch of its VISA cards, and now it is widening its marketing campaign after buying the crypto.com domain.
The crypto.com domain was legendary, in that for years, its owner, professor Matt Blaze from the University of Pennsylvania, refused to sell it. Now, Monaco has finally acquired the digital real estate in a deal rumored to be worth up to $10 million.
“This is a very powerful identity that we are taking on. It’s representative of the entire category so it comes with a huge responsibility on us to carry the torch. We don’t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher purpose,” said CEO Kris Marszalek.
The Monaco service will be rebranded as MCO, to reflect the company’s native token, which participates in the fees and reward system of the crypto card.
https://twitter.com/MCO_Crypto/status/1015115002208968704
The news of the first batch of long-awaited VISA cards boosted the MCO market price, which is up nearly a net 50% this past week. MCO climbed to $8.36, from earlier lows of $4.60, although trading volumes remain relatively weak.
For MCO, the dominant exchange is OKEx, giving it the advantage of liquidity from Tether (USDT) tokens. Otherwise, MCO mostly trades against BTC, and relies on Bitcoin holders to decide to move back to an altcoin. However, the growth of MCO prices has been timid in the past six months, after unraveling from a peak of above $24.
!MCO!
Now, the MCO digital asset should benefit more from the marketing of the Monaco cards and services.
https://twitter.com/MCO_Crypto/status/1015159313579499520
However, card projects have also lost their appeal somewhat during the bear market. The Litecoin card that was in the works was delayed.
The biggest enthusiasm for those projects was last summer, when prices boomed soon after the ICOs. However, the other contender, TenX, has not fared better.
After the project’s cards were frozen by the Wavecrest fallout with VISA, the token price fell precipitously. The PAY token slid from a peak at $5.33 in August last year and down to the current levels of $0.63.
This article appeared first on Cryptovest
