Unstoppable Drops $2M Plan to Bring Web3 Domains to Mainstream Internet

Unstoppable Domains has dropped plans to seek standard internet recognition for 14 web3 domain extensions, including .crypto and .bitcoin. The decision was made due to the high cost of ICANN's evaluation process, which would have carried a base fee of $227,000 per extension.

The total cost for the nine planned bids would have exceeded $2 million. Unstoppable CEO Matthew Gould stated that the 2021 crypto and NFT bubble left people with an inflated view of demand for the web3 market, describing it as 'small' and 'niche'.

The company confirmed that ICANN integration would also have required over 4 million existing web3 names to be registered and paid for in the traditional Domain Name System.