Blockchain

Block.one paid $30 million to purchase a domain name for its social media platform

June 19, 2019, 3:43AM EDT

Block.one, the startup behind the EOS blockchain, paid $30 million in cash to purchase a domain name for its social media platform Voice.

The news was announced Tuesday by enterprise analytics and mobility software provider MicroStrategy, saying that it sold the domain name voice.com in a transaction facilitated by Internet domain registrar GoDaddy and that it has subsequently been used by Block.one.

“An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation,” said MicroStrategy’s senior executive vice president and chief marketing officer, Marge Breya, in the announcement.

Block.one launched its blockchain-based social media app Voice earlier this month. The firm claimed at the time that real users, instead of bots, will be using the platform, possibly referring to the prevalent problems of fake accounts on traditional social media platforms such as Twitter and Facebook.

Block.one CEO Brendan Blumer recently told The Block that the firm spent $150 million to build Voice, which is currently available in Beta version for users to sign up.

Hong Kong-headquartered Block.one is backed by notable investors, including PayPal co-founder Peter Thiel, Bitmain and Galaxy Digital’s Mike Novogratz, among others. 

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