European Leader in Domain Name Drop Catching announces ICO to Build Blockchain-Powered Auction Platform
Business Wire India
French hypergrowth startup DomRaider aspires to develop an open-source solution dedicated to real-time management of auctions based on blockchain technology.
Over the last four years, DomRaider has become the European market leader for the auctioning of expired domain names. Today its Founder, Tristan Colombet announced the launch of an ICO campaign meant to fund a blockchain-powered platform for auctions of any types.
Real-time auctions carried out in the blockchain
DomRaider plans to use the proceeds from the token sale to develop the auction platform and accelerate DomRaider’s development on an international scale, which is already present in Italy and Sweden and will be expanding to Canada and the U.K. in October.
The auction platform is built on a blockchain which consists of blocks of data linked together via a decentralized network. DomRaider aspires to revolutionize the existing and limited auction ecosystem by using blockchain technology. The objective is to develop the first decentralized network dedicated to real-time management of any auction in the world, either online or in the auctioning room.
DomRaider’s blockchain solution is aimed to be:
- Scalable, reliable and transparent (publically verifiable auctions that are tamper-proof)
- Communal and interoperable (worldwide auctions accessible through generic interfaces)
- Fast (consensus on bids in less than 1 second)
- Cost effective (very low transaction cost).
Tristan Colombet, founder of DomRaider commented “We are very enthusiastic about the idea of launching the first ICO carried out by a French company with a proven track record over the last four years. It is an important springboard for the development of DomRaider, and it fully illustrates the emergence of the blockchain within the real economy. Through this ICO, we aim to apply this technological revolution to transform the global auction industry” .
Launch of the DomRaider “Token Sale” on September 12, 2017
The DomRaider ICO starts on September 12, 2017 and ends on October 11, 2017. As such, the company will issue close to 1 billion “DomRaider Tokens” (DRT). Reservation (pre-sale of tokens) is now open to the public via the dedicated website: www.domraider.io. Less than one week after the start of this process, 130 million tokens (out of the maximum of 262.5 million planned for the pre-sale) have already been sold.
After an amazing 12-year adventure as the head of Prizee (one of the first successful web startups in France) Tristan Colombet created DomRaider during the summer of 2013.
DomRaider is a service for recovering expired domain names or “drop catching”. Thanks to precise indicators and technology that detects the availibility of domain names the second they become so, the company identifies the domain names whose potential is of genuine benefit to their clients. The expired domain names can therefore be used in the context of referencing strategies (SEO), speculation on rare domain names or management of intellectual property. With more than 20,000 transactions since its creation, DomRaider is today the European leader and currently offers 27 extensions including .com that is opening doors to the worldwide market.
DomRaider has raised 3.5 million euros since October 2016, with an initial round of 2 million euros from the Eefficiency investment fund, followed by a second round of 1.5 million euros in May 2017 from Crédit Agricole, CIC, Banque Populaire and BPI France.
DomRaider’s high growth has enabled the company to employ more than 33 employees spread over three countries (France, Sweden and Italy) and soon in Canada and the U.K. as of October.
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.