Social networking is so hot right now but is it hot enough to spend $30 million on the domain name Voice.com? Block.one thought so.

The blockchain consulting outfit paid MicroStrategy for access to what it calls a "ultra-premium domain name" in order to give their new social network a leg up in adoption.

Voice.com is now home to Block.one's Voice social media service, a blockchain based system that aims to destroy "bot mobs, ... data tracking, [and] the shady algorithms behind our feeds." Block.One has already spent $150 million on the project so another 30 bills is chump change.

MicroStrategy is a business intelligence and analytics firm that holds a number of high-profile domain names from the days when companies hoarded domains like gold. Founded in 1989, the company went through multiple pivots including building Alarm.com in 2000. While its primary business has always been consulting, it tried to build a number dot-coms in the 2000s and, like many companies in that era, it owns a stable of unique and desirable domain names including Alert.com, Strategy.com, Speaker.com, and, for some reason, Mike.com.

Given the value of a good domain - after all, it was Facebook that captured the world stage and not TheFacebook - $30 million could be considered a bargain. That said, Block.One has a hard road ahead of it if it aims to convince folks to move from the established players.

Image by Brady Dale.