PALM BEACH, FL – On May 30, 2019, the domain name “Voice.com” was sold in a record-breaking all-cash transaction that has officially gone down in the history books as the highest valued domain name sale ever on record when Blockchain company “Block.one” purchased the .com web address from MicroStrategy Incorporated (Nasdaq: MSTR) for $30,000,000.00.
The sale lit-up the domain industry when it was announced in June of this year in a MicroStrategy press release. Domain industry editor and publisher Ron Jackson wrote that the sale is/was the highest cash price paid on public record since he began tracking sales in 2003.
According to the release the domain was brokered or “facilitated” through GoDaddy with a following Twitter post on June 18th by Vice President and General Manager of the GoDaddy Aftermarket, Paul Nicks tweeting and confirming the deal.
Being that $30 million was spent on a single undeveloped web address, some might wonder where in the world that kind of cash comes from and who makes that sort of buying decision on such an astronomical purchase?
According to CryptoBriefing.com, a cryptocurrency news publisher, the company behind the acquisition, Block.one may have raised as much as $4 billion in its “ICO” an initial coin offering of digital tokens, however, either their considerable spending, earnings or activities caught the attention of investigators at the Securities and Exchange Commission who alleged the digital token exchange was an “unregistered” offering and went after the company for the transaction.
According to the SEC’s order, Block.one, which has operations in Virginia and Hong Kong, conducted an ICO between June 2017 and June 2018. The order finds that Block.one stated it would use the capital raised in the ICO for general expenses, and also to develop software and promote blockchains based on that software. Block.one’s offer and sale of 900 million tokens began shortly before the SEC released the DAO Report of Investigation and continued for nearly a year after the report’s publication, eventually raising several billion dollars worth of digital assets globally, including a portion from US investors. Block.one did not register its ICO as a securities offering pursuant to the federal securities laws, nor did it qualify for or seek an exemption from the registration requirements.”
The above statement hit the wire four months after the acquisition on Sept. 30, 2019, when the federal regulatory agency announced that it had come to a settlement arrangement on the charges against Block.one, with the Blockchain company agreeing to paying a $24 million civil penalty.
The “Voice.com” domain name is being used to launch a new blockchain-based social media platform which CEO Brendan Blumer says will focus on top social media influencers as its key marketing strategy suggesting that influencers with 100 million followers who can bring an audience of 50 million people to the new platform will be compensated handsomely, earning between 50 and 100 million dollars just to switch over.
Important to note for any confusion which may arise, Voice.com is the highest all cash deal to ever close. Other record sales such as LasVegas.com ($90 million in 2005), Insurance.com ($35.6 million in 2010), (VacationRentals.com $35 million in 2007) and (PrivateJet.com $30.18 million in 2012) where all website businesses and/or cash plus stock deals.