Unstoppable Domains withdraws ICANN bid for Web3 domains

Unstoppable Domains has withdrawn its planned $2 million ICANN application to register 14 domain extensions, including .crypto and .bitcoin, under the standard Domain Name System, CoinDesk reported. The move was driven mainly by review fees of $227,000 per application and weaker demand in the Web3 market. The withdrawn domains will remain usable only on-chain for functions such as transferring crypto wallet addresses, according to the report. They will not support direct access through the address bars of standard web browsers such as Chrome and Safari via DNS.