With the general cryptocurrency market extremely bullish at the moment, some companies are capitalizing by acquiring better domain names.
The latest cryptocurrency company to make an investment in a premium .COM upgrade is Tent, founded in 2017 as SnowGem. The company only rebranded to Tent in October 2020, acquiring the Tent.app domain in the process.
It wasn’t long, however, before Tent made the decision to acquire Tent.com. According to DomainIQ, Tent.com transferred to an Escrow.com holding account at GoDaddy in January 2021 and has recently been updated to display a coming soon page. As of publishing, there are 56 days before Tent.com is live.
The Escrow.com holding account is often used in transactions where the buyer is paying for the domain name in installments over the course of a few months or even a few years.
Tent is a cryptocurrency ecosystem that offers a Tent coin, and a cryptocurrency wallet. The company is due to launch a Tent payment card, a physical card that allows you to spend cryptocurrency in the form of a traditional debit card.
The launch of the card may have spurred Tent to acquire Tent.com, as the company moves from being purely a cryptocurrency app and ecosystem, outgrowing its Tent.app domain.