Business
DigitalAMN Aligns With Domain Industry Experts to Secure TLD—Growing Digital Asset Holdings
DigitalAMN Aligns With Domain Industry Experts to Secure TLD—Growing Digital Asset Holdings.
About this update from Digital Asset Monetary Network, Inc.
[{"type":"text","content":"\n NEW YORK, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. (“DigitalAMN”, “DAMN”, or the “Company”) (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that the Company has acquired a TLD (or “gTLD” (generic Top-Level-Domain)) in partnership with two experts in the Domain Name industry, to participate in the global DNS (Domain Name System) ecosystem. According to the MIT Computer Science & Artificial Intelligence Lab, the global DNS ecosystem is estimated to generate roughly $8 Billion annually, and is comprised of TLDs, including well-known generic extensions, such as .com, .org, .net, .biz and .club. There are currently over 1,100 gTLDs. However, only a handful rise to a position prominent enough to be sought after in significantly sized acquisitions, such as GoDaddy’s purchase of .club—part of a $120M acquisition package. The gTLD acquired by DigitalAMN was originally slated to be part of an auction recently conducted by a large retail registry and was mistakenly listed with the registry’s available inventory for auction. However, the Company and its domain industry partners were able to secure this digital asset completely outside of that auction. As is the case with all gTLDs, the final transfer and assignment of this gTLD to the Company and its domain industry partners, is subject to obtaining consent from the Internet Corporation for Assignment of Names and Numbers (ICANN). Management will formally disclose the gTLD name once the Company receives consent from ICANN to complete the transfer and assignment. “We believe this venture continues to support our ethos and mantra,” stated Ajene Watson, CEO of DigitalAMN. “Especially given the name of this gTLD, what it may represent culturally to a multi-billion-dollar global marketplace, and the anticipated financial literacy initiatives that could potentially be born from it.” “The value proposition for DigitalAMN in acquiring this digital asset is further enhanced by one of our partner’s extensive experience in launching a number of other profitable TLDs. In addition, our partners are well-known domain industry pioneers in secondary market TLD services, which is estimated to generate roughly $2B annually. And lastly...