Embermine Press Release:
- Acquisition- Domain Token
- Token Distribution Methodology for Embermine Ecosystem Development
- Token Release: TOV 8/15/17
- Token Release: DOM 9/1/17
- Quick Notice: Distinction between MBRS and EMB
For Immediate Release:
Lincoln, Nebraska – July 31, 2017 – Embermine, the blockchain and decentralized application startup, released a series of announcements as they move into Phase 2 of their platform development timeline. The announcements include news regarding the completion of their acquisition of DomainToken.io, the unveiling of a new token distribution strategy, and the formal announcements of the first two Token Releases on the Embermine Ecosystem to utilize this methodology.
Embermine Acquires DomainToken.io
On July 27, 2017, Embermine, Inc. officially acquired Domain Token, a project working to decentralize the domain name marketplace by giving users flexibility and freedom in purchasing, selling, and leasing domain names without the exorbitant fees that current marketplaces charge, all the while providing a top-notch user experience lacking in the market.
Ryan Colby, founder of Domain Token and experienced domain broker who has netted over $60 million in deals in the field:
“It’s (the domain industry) such a perfect industry to disrupt right now. The marketplace will be very excited for a fresh solution that is easy to use, has much lower fees, and provides a mechanism to monetize their domain activities with token rewards. Domain Token will back bring power to the people with lower fees, ease of use, and multiple monetization streams never previously available.”
This acquisition makes DomainToken the third project to join the Embermine fold. It joins the Embermine Platform, a decentralized operating system for the creative lifestyle that allows users to deploy smart contracts to automate agreements and payments between contributors on a project without unnecessary frictions, and TokenVerse, a syndicated network of sites with the aim to provide a myriad of sites and sources catered to newcomers of the blockchain space.
The acquisition also introduces tighter synergy between TokenVerse and the Embermine Platform, as DomainToken can be the domain management platform for the TokenVerse network as well as Projects launched on the Embermine Platform.
Another feature planned for DomainToken that will also see extensive use in the TokenVerse network is the “custom feed deployment engine.”
CEO of Embermine, Inc. James Drake explains: “With a custom feed deployment engine (working title), anyone can turn domain “scrubland” into a potential way to help build keyword and domain relevance before it is even used for its ultimate purpose. In fact, one could make a business out of “developing” the domain into a rich piece of real estate and get it ready “turn key” for someone to come in and hit the ground running with their new site.”
New Token Release Methodology and Token Releases
Another announcement on the Embermine front is the launch of two tokens, DomainToken (DOM) and TokenVerse (TOV). Each of these crypto-assets will have utilities unique to each project. DOM tokens are tokens that can be assigned to encrypting and assigning a domain to that token address, allowing ease of ownership, management, and exchange within the entire digital marketplace.
“TOV tokens will provide holders with the ability to purchase advertising on the site; it will be the only (currently) accepted method of payment. It will also be used for paying all fees, products, advertising royalties, and conducting all manner of transactions within the TokenVerse environment. We will be designing the site to incorporate MetaMask and other forthcoming e-commerce tools to allow the easy payment and receipt of all tokens on or through the site,” says Drake.
Facilitating the launch of these tokens is a new distribution methodology that eliminates any direct exchange of currency (crypto or fiat) seen in other token sales, or “initial coin offerings.” Rather, on a particular date and time, DOM and TOV tokens will be each distributed directly to holders of MBRS at a set proportion.
Director of Research and Development at Embermine, Inc. Garrison Breckenridge:
“Since our intention is for Domain Token and TokenVerse to inter-operate with the Embermine Platform upon its release, it dawned on us that creating a token structure for an ecosystem of applications rather than separate sales for separate projects would help bootstrap the development and value of the ecosystem as a whole.”
TOV and DOM Token Release Date and Time Announcements
TokenVerse (TOV) Token Release: On August 15, 2017 at 12:00PM Central Standard USA time, TOV tokens will be distributed on a 1:2 ratio with MBRS.
DomainToken (DOM) Token Release: On September 1st, 2017, DOM tokens will be distributed on a 1:100 ratio with MBRS.
Full details regarding both projects, as well as the full mechanics regarding the Token Releases will be released on the Embermine website when the Phase 2 corporate site is revealed on August 3rd, 2017 at 12:00PM Central Standard USA Time.
Important Clarification Regarding Embers (MBRS) and Embercoins (EMB)
Embermine, Inc. would like to clarify a possible cause of confusion regarding the name and ticker symbol of Embers (MBRS). There is another token called Embercoin (EMB) that is currently on some exchanges that also utilizes a flame icon. The two projects are entirely unrelated.
In the early stages of our development, Embermine was originally using the EMB trading symbol, but upon discovering the existence of the other project, the Embermine Team decided to change to the phonetic abbreviation “MBRS”.
Embermine, Inc. is a blockchain, smart contract, and decentralized application platform developer located in Lincoln, Nebraska and founded in early 2017. Their cryptocurrency Seat Licenses, Embers (MBRS), are publicly traded on select exchanges. More information can be found on https://embermine.com