EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   2934

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.
 

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.

Investors Told About TON Launch Postpone

The decisive factor of the delay's length will be the outcome of the hearing scheduled for October 24 in the court of the Southern District of NY
16 October 2019   121

The team of Pavel Durov is supposed to solve all the problems with the SEC within six months to a year. The launch of the Telegram Open Network (TON) may be postponed for such a period, Forbes reports with reference to project investors.

The decisive factor will be the outcome of the hearing scheduled for October 24 in the court of the Southern District of New York. On it, the SEC will explain why it considers the Gram cryptocurrency a security, and TON representatives will present the rationale for lifting the temporary ban on the distribution of coins.

Up to this point, there will be no official statements, sources said.

The TON investigation is being conducted by Daphne Waxman, Morgan Ward Doran, and John Enright, known to the Block.one community.

On October 11, the SEC through a federal court achieved a temporary ban on the distribution of Gram cryptocurrency among investors. The agency believes that the asset is a security, and Telegram violated US law during the ICO.

Durov disagrees with the position of the SEC, but the postponement of the project is considered among possible solutions.

In contracts with investors, the launch deadline indicated October 31, but a clash with regulators is supposedly treated as force majeure along with a natural disaster. Such an interpretation may allow Durov not to return funds in the event of a delayed launch.