ApeCoin Community Endorses Registering .APE as Top-Level Domain with ICANN

ApeCoin Community Endorses Registering .APE as Top-Level Domain with ICANN | Strategic Revenue

5 April 2024

in ApeCoin

Reading Time: 2 mins read

91.68% of the members of the community representing ApeCoin – a form of cryptocurrency and the utility token used within the APE ecosystem – overwhelmingly agreed on backing a plan File photo: Photo_gonzo, ShutterStock.com, licensed.

PALM BEACH, FL – The ApeCoin community has enthusiastically endorsed a proposal that would involve registering “.APE” as a top-level domain (TLD) with the Internet Corporation for Assigned Names and Numbers (ICANN), the nonprofit organization that oversees the domain industry. It is anticipated that ICANN would be motivated to allow .APE to become registered as a TLD, given their stated goal of introducing new generic top level domains by 2026.

91.68 percent of the members of the community representing ApeCoin – a form of cryptocurrency and the utility token used within the APE ecosystem – overwhelmingly agreed on backing a plan that involves partnering with D3, a Web3 domain specialist, on turning .APE into a palpable and monetized asset; only 8.32 percent of the community opposed the move.

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D3 CEO Fred Hsu noted that his company will handle preparing and submitting the application to register .APE as a TLD to ICANN, with the process anticipated to take approximately one year to complete. In addition, D3 announced that they will be creating immediate Web3 identifiers for .APE users in the form of Ape-linked name tokens.

Hsu was quoted as saying that his company was among the best qualified to take the lead in registering .APE as a TLD, as the domains they offer are versatile enough to be usable across Web1, Web2, and Web3 platforms.

? ApeCoin DAO gives thumbs up to .APE top-level domains

“The ApeCoin community unanimously approved a proposal to register “.APE” as a new top-level domain (TLD) with the ICANN, the world’s authority on IP addresses and domain names.” pic.twitter.com/RDPLRHjhWK

— ARIYAS (@domainretail) April 4, 2024

If successful in their bid to register and launch the domain, the company stands to make millions of dollars annually from the move in the form of a 50/50 revenue split between ApeCoin and D3, generated from Ape name tokens and .APE TLDs.

If successful in registering the domain, it must be noted that D3 would not actually own .APE; ICANN instead allows the registering party to renew their exclusive operational and monetization rights for a given TLD every 10 years.