Unstoppable Domains Scraps ICANN Recognition Bid Over Excessive Costs

Unstoppable Domains has cancelled its plan to seek ICANN recognition for nine of its Web3 domain extensions, citing excessive costs. The company's founder, Matthew Gould, said that the expected cost of compliance and application would exceed the revenue it could recover through domain sales.

The affected domains include .crypto.wallet, and .blockchain. Customers who purchased these domains will receive refunds, according to Gould. However, the process for receiving a refund has not been publicly disclosed.

Unstoppable Domains had been working towards bringing its Web3 domain extensions into the traditional internet system through ICANN recognition since 2019. This would have allowed the domains to work seamlessly with conventional browsers and email services.