Unstoppable Domains kills .coin in the name of .wallet – Domain Name Wire
Domain vendor Blockchain deactivates .coin domains to bolster its first-to-market argument has exclusive rights.
Blockchain domain vendor Unstoppable Domains has killed its .coin top-level domain after discovering a name collision. And while he doesn’t directly mention .wallet, his rationale is clearly designed to address the .wallet controversy.
In a blog post, Unstoppable said it stopped selling .coin domain names because it discovered that another blockchain domain system had started selling .coin domains before it:
When we launched .coin in 2021, we were unaware of this name collision. Emercoin, the platform issuing .coin domains, had not marketed their TLD extensively, making it difficult to find. As soon as this collision was brought to our attention, we stopped selling .coin domains while we investigated the issue.
Through our investigation, we discovered that Emercoin registered its first .coin domains in 2014, gained some market penetration, and built integration into a reputable application: OpenNIC. We are committed to protecting our customers against the risk of functional collision.
So what does this have to do with .wallet?
Unstoppable is involved in a dispute over the .wallet extension in Handshake, a competing blockchain domain system. This .wallet top-level domain was registered before Unstoppable began offering its own .wallet domains, but before the owner of the Handshake name began offering second-level registrations to the public.
In this case, Unstoppable Domains believes it should have exclusive rights to sell .wallet blockchain domains because it was the first to enter the market. This is the reason he gives for killing his .coin domain:
We believe the platform with the first commercial use should have the rights to that domain termination, and in that case, we believe Emercoin is that platform.
If you think you own your .coin domain on Unstoppable, you’re in for a surprise. You can still “own” them, but they won’t work anymore. You can, however, redeem them for store credit. Unstoppable will give .coin owners 3 times their original listing fee as credit. (If you bought it on the secondary market, you’ll only get three times the original listing fee back.)
Based on Unstoppable’s line of thinking, it would behoove owners of Handshake domains to immediately begin offering second-level domains on their domains.
Tip: Web3 is fine