The NXT development community has been hard at work on a distributed asset exchange for quite some time, and it seems that the first major IPO to be launched on the exchange is nearly ready to be launched. Eugeniu Borchers and David Sønstebø, two well-known members of the NXT community, have decided to launch a new venture known as DotsforBits.com. This business will be for domain trading, with the twist of also allowing for payments in various cryptocurrencies. Domain names are currently a multi-million dollar business on the Internet, but none of the big players in the space currently accept Bitcoin or other forms of cryptocurrency.
Crowdfunding an IPO
[dropcap size=small]T[/dropcap]he initial funding round for DotsforBits.com will come from a crowfunding campaign that will also act as an IPO for investors. Sønstebø hopes to raise just under $250,000 through NXT and other cryptocurrenceis to get the project started, and both of the entrepreneurs believe they can reach their goals due to the current gap in the domain trading market. The team behind DotsforBits.com believes it will be able to offer methods of buying and selling domains at a faster pace than other established companies in this space due to the fact that cryptocurrencies will be used for payments. The IPO for this digital asset has already started, and it can be found on the NXT asset exchange.
Uniting Domains and Cryptocurrencies
Borchers has also stated one of the main goals of this project is to bring together the world of cryptocurrencies and domains. Thanks to the site’s dedication to the usage of cryptocurrency for all payments, the DotsforBits.com will actually be able to charge a lower fee to users. While most domain-trading websites take a commission of fifteen to twenty percent, DotsforBits will charge a commission of around ten percent. This is the kind of savings that most people have been waiting for as one of the main tenants of using cryptocurrency as a whole. Although most of the early domains traded on this site will likely be related to the cryptocurrency community, Borchers and Sønstebø have noted that domains traded on the site will not be restricted to this one particular niche audience.
Investing and Dividends
The guys behind DotsforBits want to make it as easy as possible for anyone to get involved in the early stages of this project, which is why the initial public shares are being offered on NXT’s asset exchange. This makes it easy for anyone to not only get involved with the IPO for DotsforBits, but also buy and sell shares of the digital company in the future. Although the actual crowdfunding process is taking place on the NXT asset exchange, DotsforBits are also making accommodations for people who wish to obtain their shares with other cryptocurrencies or fiat. Once the first shares are issued, dividends will immediately be distributed to shareholders on a regular basis. To ensure that you’re investing in the correct asset on the NXT exchange, make sure that you’re purchasing the asset with the correct asset ID. The DotsforBits asset ID is 288267136544646747.Get Exclusive Crypto Analysis by Professional Traders and Investors on Hacked.com. Sign up now and get the first month for free. Click here.