Unstoppable Domains has dropped its ICANN bids and promised refunds after costs outweighed expected sales for its Web3 domain extensions.
- Unstoppable Domains has withdrawn its bids for ICANN recognition of its Web3 domain extensions due to prohibitive costs, opting to refund affected customers.
- The decision means these domains (.crypto, .wallet, .blockchain) will continue to function as on-chain assets but will not integrate with the traditional DNS system for universal browser access.
- Despite this, Unstoppable Domains will continue to act as a service provider for partner applications, such as Telegram's .gram domain, and ENS is pursuing its own ICANN application.
Topics: Jurisdictions, Legal regulatory, Infrastructure providers, Regulatory sandboxes pilots, Securities law classification, Tokenization platforms
Tags: #unstoppabledomains #icann #web3domains #domainextensions #refunds #blockchaindomains #dns #applicationcosts #telegram #ens
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