Block.one, the startup behind the EOS (EOS) blockchain ecosystem, reportedly purchased the domain name Voice.com for its new social networking platform at the mind-boggling price of $30 million.

According to a recent press release, MicroStrategy Inc. (MSTR) sold the domain name for $30 million in cash in a transaction facilitated by GoDaddy.

“Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform,” said MicroStrategy CMO Marge Breya. “The word ‘voice’ is simple and universally understood. It’s also ubiquitous ― as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.”

As we previously reported, the new social network platform will be powered by VOICE tokens, which are created when individuals communicate with one another or through the creation of content. The platform is designed to increase the visibility of content and allow users to reward content creators that they find most valuable.

Block.one is also currently offering to repurchase 10% of its outstanding stock at a valuation of about $2.3 billion. Block.one did not publicly share the reasoning behind the share buyback, but the news does come roughly a year after the startup paid around $300 million to acquire 13.8% of its outstanding shares.

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More: Block.one Paid $30 Million for a Domain
Related: Block.one Introduces EOS-Based Social Network ‘Voice’

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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