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   3303

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.

SEC to Urge Court to Speed Up Kik ICO Trial

In the court, SEC stated that Kik Interactive did not provide adequate arguments why KIN tokens were not registered as securities 
24 March 2020   1774

The US Securities and Exchange Commission (SEC) called on the court to expedite the proceedings against the Canadian company Kik Interactive, accused of conducting an unregistered ICO.

In an appeal to the District Court of the Southern District of New York, the SEC stated that Kik Interactive did not provide adequate arguments why KIN tokens were not registered as securities. Recall that in 2017, Kik held an initial token offering (ICO), which attracted about $ 100 million.

The agency claims that Kik sold tokens to investors, promising them profits as the ecosystem expanded, which is considered a key characteristic of the securities offer. In its application, the SEC quoted Kik CEO Ted Livingstone saying that “the price of a KIN token is likely to increase in value.” Such an “investment scheme”, according to federal laws, makes a token a security.

According to Kik, the pre-sale tokens were intended exclusively for accredited investors to raise funds for the development of the KIN ecosystem. Then, a public sale of tokens was conducted, aimed at ordinary users. However, the regulator refutes these arguments, since the startup did not present any differences, how these two rounds of sales differed from each other. In addition, restrictions on the sale of KIN tokens on the open market did not apply to accredited investors.

Despite Kik’s statements that the ICO was outside the Commission’s authority, the agency is convinced that the tokens were sold to US citizens. Kik assures that it has fulfilled all the requirements necessary for the legitimate attraction of funds, namely, before conducting a pre-sale, it filled out a special form, exempting from the need to register with the SEC.

Regarding open sales, Kik denies having any contractual obligations or promises to investors. Kik management claims that according to the definitions of the Commodity Futures Trading Commission (CFTC) and the United States Internal Revenue Service (IRS), KIN tokens are not securities, but consumer goods. Moreover, Kik believes that the SEC is asking the court to expand its powers without understanding the status of KIN tokens and key aspects of their sale.