Thursday , August 11 2022

Web3 accounting firm officially launches on Tactic.com

Tactic used a creative deal structure to land its great domain.

Screenshot of Tactic web3 cryptocurrency tax solution

Tactic acquired tactic.com on a payment plan to offer its web3 accounting solution.

The term web3 is an all-encompassing term to describe the innovations happening on the internet and the shift towards digital currencies and digital assets operating on blockchain technology.

In the last couple of years, cryptocurrencies and some digital assets such as NFTs have become mainstream. Data from cryptocurrency exchange Gemini shows that nearly half of all crypto owners first bought digital assets in 2021.

With cryptocurrencies becoming more commonplace, e-commerce providers such as Shopify have added cryptocurrency payment facilities for store owners to facilitate transactions using the likes of Bitcoin, Ethereum, and Litecoin.

Regardless of how income is made, the taxman will want his share. With businesses conducting more transactions using cryptocurrency and many individuals receiving sizable profits from NFT and cryptocurrency sales, working out tax owed can be a nightmare.

Enter Tactic. This brand new accounting company has tools to cater to the web3 ecosystem. Users can connect to wallets and exchanges through its platform to give a full treasury view of cryptocurrency balances and activities.

Tactic’s platform also calculates USD gains, losses, and taxable events. This data can then be exported to traditional accounting software providers like QuickBooks.

Tactic has publicly launched after emerging from stealth mode with $2.6 million in funding, with financing co-led by Founders Fund and Ramp.

Before going public, Tactic secured its exact-match domain, Tactic.com, upgrading from its initial domain, ChooseTactic.com.

The company, which relies heavily on its website and domain to host its accounting platform, secured Tactic.com in a deal closed by domain brokerage Buckley Media.

In February 2022, Buckley Media’s founder, Kate Buckley, confirmed the deal, noting that Tactic secured Tactic.com thanks to a payment plan.

In this case, a payment plan has allowed Tactic to operate on Tactic.com, growing its business while making regular payments to the domain’s seller. Usually, at the end of a payment plan deal, ownership of the domain transfers to the buyer.

It’s a smart move that has allowed Tactic access to an ultra-premium domain very early in its life. Crunchbase lists at least six other companies using Tactic as a brand name. These companies likely had the same opportunity to acquire Tactic.com, but it was left to a young accounting startup to produce a creative way to secure the domain from launch.

Well done, Tactic.

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