Centralized blockchain domain seller Unstoppable Domains has killed its .coin domain after realizing another blockchain domain system has been selling it for years.
In a recently published blog post, Unstoppable Domains said that it hadn’t realized Emercoin, a blockchain platform, registered its first .coin top-level domain (TLD) in 2014.
“When we launched .coin in 2021, we weren’t aware of this naming collision. Emercoin, the platform issuing .coin domains, hadn’t marketed their TLD extensively, making it difficult to find. The Emercoin team are pioneers in our industry and we regret that we weren’t aware of this naming collision earlier,” the firm said.
The billion-dollar company decided to stop supporting .coin domains to avoid naming collision – a circumstance when two or more identifiers in a specific namespace are resolving to the same address.
“We believe the platform with the first commercial use should have the rights to that domain ending, and in this case, we believe Emercoin is that platform,” the company said, adding that it has put systems in place to avoid similar situations going forward.
Those who purchased .coin domains will still have the non-fungible tokens (NFTs) representing the ownership in their wallets but the domains themselves won’t work. Owners of the depreciated domain will be eligible for credits of three times what they paid.
Unstoppable Domains is also involved in a legal dispute over its .wallet domain with Handshake, a competing blockchain domain system. The firm is seeking to claim the rights to the domain extension even though Handshake registered it first.
Unstoppable Domains currently offers nine TLDs, including .crypto, .nft, .x, .wallet, .bitcoin, .dao, .888, .zil, and .blockchain. It claims it has over 2.7 million domain registrations and over 503 integrations across various web3 services.
The firm is valued at $1 billion after raising $65 million in Series A round in July.
