Social networking is really hot at the moment; however, is it warm enough to actually spend $30 million on the domain name Voice.com? Block.one thinks so. The blockchain consulting outfit actually paid MicroStrategy for access to what it actually calls an ultra-premium domain name, to give their new social network a leg up in adoption.

Block.one paid $30 million to buy a domain name

Block.one, which is the developer of EOS, paid $30 million in cash to buy a domain name for its new social media based on blockchain, which it named Voice. The development has been revealed in one filling which the SEC or Securities and Exchange Commission of the United States published on the 18th of June.

According to the filling of the SEC, which was submitted by the enterprise analytics, as well as mobility software provider MicroStrategy, the domain name purchase of voice.com of Block.one was enabled by the web domain registrar GoDaddy and concluded on the 30th of May of this year.

In one official statement, Marge Breya, who is the senior executive chief marketing officer and vice president at MicroStrategy, outlined what she actually believes to be the advantages of the purchase.

She said that the word “voice” is simple, as well as universally understood. Also, it is ubiquitous, as a search term, and it returns billions of results on the internet. An ultra-premium domain name such as Voice.com may be helpful for a company to achieve instant brand recognition, massively accelerate value creation, and also ignite a business.

What is the purpose of Voice social media?

Right now, Voice.com is the home to the Voice social media service of Block.one, a system based on blockchain, which has the purpose of destroying “bot mobs,” data tracking, as well as the shady algorithms behind the feeds. Black.one already spent about $150 million on the project, so another 30 bills are actually chump change.

Block.one actually announced the creation of the new social media at the start of this month, claiming that its basis on the EOS blockchain is going to provide more transparency than the traditional social media platforms.

MicroStrategy is actually business analytics and intelligence company which holds several high-profile domain names from the days when the companies hoarded domains such as gold.

The firm was founded in 1989, and it went through several pivots including building the Alarm.com in 2000. While its first business was always consulting, it also tried to make several dot-coms during the 2000s and, just like other firms from that period it owns a stable of authentic and desirable domain names, which include Alert.com, Speaker.com, Strategy.com, and Mike.com for some reasons.

Facebook published the white paper for the awaited crypto Libra

Given the value of functional domains – after all, it was the social media giant that captured the world state and not the so-called TheFacebook – $30 million could actually be considered a bargain. That being said, Block.One has quite a steep road forward if it has the purpose to convince folks to move from the established players.

In the broader social media, as well as blockchain space, Facebook has published the white paper for its crypto waited for so long, and its financial infrastructure project, based on blockchain and dubbed Libra.

Soon after the publication, the Chairwoman of the Financial Services Committee of the United States House of Representatives requested that the social media giant halt the development of the token until Congress, and regulators have the chance to evaluate the related problems.

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