A $4bn biz without a live product just broke the record for the amount paid for a domain name. WTF is going on?

www.theregister.co.uk | 6/20/2019 | Staff
doona07 (Posted by) Level 3
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Comment This week saw the greatest sum ever paid for a domain name: Voice.com was sold in an all-cash deal for $30m to a company called Block.one, more than doubling the previous, longstanding record of $13m for Sex.com.

Can a simple web address really be worth $30m? Well, yes, if it is attached to a well-known business. The value of Amazon.com, for example, is far more than $30m. But voice.com is nothing but a word, a destination on the internet that has billions of such destinations and hundreds of other endings other than .com. Its record-breaking purchase makes no sense. Until that is you look at who bought it and why.

Block - Cryptocurrency - Company - Currency - Eos

Block.one is a cryptocurrency company. It has its own currency called Eos which exists but no one is really sure why. There has been a glut of recent cryptocurrency launches that have imploded, leaving investors out of pocket and in some cases, founders on the run.

Block.one appears to be trying to do something beyond gathering your hard earned. It says its currency and money will be used to create a world of new services that challenge the biggest corporations that exist online.

Voice - Block - Answer - Facebook - Media

And Voice is Block.one's answer to Facebook. It is a social media company that will work through the blockchain but with a key difference: it will feed the benefits that come from having a huge global following back to the users themselves. It will also cut out phony accounts and fake news by requiring people to use a government-issued ID to sign up.

It is the Facebook we've all dreamed of. And Block.one announced it at the start of this month. Not only that but it raised an extraordinary $4bn in the lead-up to the launch, so the company is supposedly flush with cash, and says it will spend $150m on...
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