TopCoin launches as cryptocurrency for fresh TLDs

TopCoin enables registries to pass rebate credits directly to registrants.

I caught up with Michael Blend last night here in Los Angeles. Blend sold his firm to Demand Media and was then an executive with the firm for many years.

He’s right now working on a number of startups, and one of these is applicable to the domain name industry: TopCoin.

It’s billed as a cryptocurrency for digital goods. For now, you can think of it as a rewards program for buyers of second level domains under certain fresh TLDs.

Buyers of Uniregistry, Rightside and .Build domain names earn TopCoin, which they can then then use to buy more domain names at participating registrars (right now those owned by the same participating registries).

The technology is similar to bitcoin. But if you’re not into cryptocurrency, don’t let that put you off. Just think of it like earning frequent flyer miles.

Registries right now give rebates to registrars for selling their domains, but these are often not passed on to the actual consumer. With TopCoin, registries can pass rebates directly to the registrant.

It’s an interesting concept to keep an eye on.