NEW YORK, Jan. 04, 2022 (GLOBE NEWSWIRE) — Digital Asset Monetary Network, Inc. (“DigitalAMN”, “DAMN”, or the “Company”) (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that in partnership with highly experienced Domain Name industry executive-entrepreneurs, the Company has acquired the rights to the Top-Level-Domain (“TLD”), .hiphop, through Dot Hip Hop, LLC (“Dot Hip Hop”)—whose partnership is listed in the Company’s 3rd QT Financial Disclosures [2021].
The Company initially made this announcement without identifying the name of the TLD (or “gTLD” (generic Top-Level-Domain)) as .hiphop. This was done to preserve the integrity of the assignment process that is overseen by the Internet Corporation for Assignment of Names and Numbers (ICANN). As is the case with all gTLD assignments, the assignment of the .hiphop gTLD Registry Agreement (an exclusive license to operate the .hiphop TLD) is subject to obtaining ICANN’s consent, which may not unreasonably be withheld.
DigitalAMN originally intended to reveal the name of the gTLD, only after Dot Hip Hop received consent from ICANN to complete the assignment of the .hiphop TLD from the previous holder. While this has not yet occurred, Domain Incite identified and published DigitalAMN’s relationship to .hiphop.
“We are truly excited about .hiphop for so many reasons,” stated Ajene Watson, CEO of DigitalAMN. “One being, that we get the opportunity to partner and work with several incredibly experienced, well known and highly respected figures in the domaining space. Another is… this is Hip Hop.”
“As a culture, Hip Hop has helped to break down barriers, bring awareness to inequities and inequalities, and give both the undervalued and unvoiced platforms to stand, grow and flourish. And of course, this venture gives us the opportunity to work with ‘thought leaders’, artists, entertainers, designers, business leaders and the Icons of Hip Hop.”
“The .hiphop gTLD fits our mission to help everyday people establish and grow transferable wealth, through financial literacy and access to economic opportunities. We believe that our PAI Ecosystem, coupled with the exciting prospects the Company should see due to the Dot Hip Hop venture, will truly be effective in achieving this goal in 2022.”
The transfer and assignment of the .hiphop gTLD to Dot Hip Hop is still being processed by ICANN. This process is seemingly taking longer and is costing more money than the traditional transfer process is known to take. However, it is the Company’s understanding that Dot Hip Hop has in fact met all of the requirements for ICANN to complete the assignment of the .hiphop gTLD Registry Agreement from the previous owner to Dot Hip Hop.
Watson continued, “While it is taking ICANN much longer to consent to the assignment, I am not overly concerned about the delay, as we are working with extremely successful domain industry veterans, who have roughly 65 years of combined knowledge and experience between them, and who are working diligently to rectify the matter. Further, the rationale used by ICANN for delaying consent does not seem to relate to Dot Hip Hop, DigitalAMN or its partners, nor the actual gTLD [.hiphop]. Our partners have taken every step to clear any potential hurdle to the assignment. Any result other than a consent, would unfortunately be likely predicated on some sort of biases having little or nothing to do with DigitalAMN or its partners.”
Management indicated that the .hiphop venture will be included in its fund-raising initiative and will play a significant role in implementing DigitalAMN’s strategic plan, which includes the launch of new operating divisions.
Watson concluded, “I am hopeful that we will receive ICANN’s consent shortly, and look forward to the culture of Hip Hop possibly doing for .hiphop, what Clubhouse did for .club, at a much larger scale, of course. Why? Well, because… this is Hip Hop.”
ABOUT Digital Asset Monetary Network, Inc.
Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) uses the Public Accelerator-Incubator (PAI) model with the intention of following the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
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Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations.
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