Freename Overview
Freename.io is the leading TLD and Domains platform in Web 3. Users can register and mint their own customized Web3 TLDs. They empower users by giving them access to royalties and trademarks to protect their digital identity. Owning a Freename Web 3 TLD entitles users to a 50% passive income for every domain purchased on that TLD.
What are Web 3 Domain Registrars?
A domain registrar is someone who is accredited and regulated by ICANN (Internet Corporation of Assigned Names and Numbers). They provide domains for anyone to buy. Some Web 2 registrars include godaddy.com, squarespace.com, and wix.com. Web 3 registrars are essentially the same, with one key difference. They use blockchain-based technology.
Why does this make them different? Because they are not subject to the problems faced by Web 2 registrars. ICANN is a centralized authority that maintains, standardizes, and regulates the whole domain industry. This has led to some problems. For example excessive costs (registering a TLD for 10 years would cost you upwards of $185,000), scalability (with their restrictions), and centralization issues. More on this here.
Web 3 offers a more equitable solution, both to the registrars and end users. This is because of blockchain technology. Freename.io seeks to harness the potential of blockchain technology to reach to goals of:
Decentralization of power. ICANN’s scope of influence does not affect Web 3 domains.
Customizability. Most Web 2 domains are taken or simply not available. With Web 3 domains, you can mint, create and manage your own personalized domains without ICANN imposing rules and regulations.
Freedom. You have complete authority over your domains and you don’t have to pay renewal fees. This is a big difference between Freename.io and Web 2 registrars.
Income. Since you have full ownership of your domains, you can sell on a secondary market without any middleman taking a cut. Freename.io also provides royalties to empower end users. More on this later.
Freename.io
Freename.io removes the complexity of the cryptocurrency market. They standardize Web 3 usernames to facilitate easier and more efficient payments. This helps facilitate flexibility. For example, your client asks to pay you using crypto. With Freename.io, you can accept payments using the address “yourbusiness.2themoon” instead of a 42-character hexadecimal string such as “0xDC25EF3F5B8A177998338A2ADA83795FBA2D695E”. Think of your domain as your bank account address and your 42-character string as your IBAN.
Freename also addresses the problems of centralization, security, and empowerment of users. Their multichain approach allows them to rely on peer-to-peer networks that don’t need a central body to verify (or issue) domain names. There is no central authority like ICANN intervening. Freename.io also offers royalty licenses to empower users financially. Passive income is becoming more applicable to people all around the world. Freename allows you to mint any domain name of your choice. You can mint and register the TLD of your choice along as there is no prior registration. You can also get paid 50% of the transaction fee every time another user buys a domain on your TLD!
What is a TLD and why are they important?
A Top-Level Domain (TLD) is everything that comes after the final dot of a domain name. The Second Level Domain (SLD) is everything that comes before the dot. For example, “Freename” would be the SLD/domain name, and “.io” would be the TLD.
Business names and websites act as a gateway to their products and brand identities. Our current economy is built on an online presence. Having an online presence increases your potential customer base and makes your content available to the world.
Earning royalties is a big advantage for owning Web 3 TLDs. Another advantage to owning your own TLD is your brand identity. There are third-party branded domain extensions like “.eth” and “.sol”. But would this make sense for your brand’s identity? Another key advantage is that it is a smart investment. It is only about time before the world adopts cryptocurrencies. Having a TLD such as “.metaverse” could be used by a lot of companies looking to accept cryptocurrencies as payment. For example “XYZcarwash.metaverse” or “ABChospital.metaverse”. Owning this Web 3 TLD would entitle you to 50% of passive income every time a company registered using your TLD. Freename.io also charges no fees. You buy your TLD/ domain and you own it forever. There is no ICANN charging renewal fees and transaction fees.
Freename.io is taking a stance and empowering users by solving the problems Web 2 registrars couldn’t. They offer highly customizable TLDs and domains, that are secure and offer passive income. They also offer trademarks for users to protect their TLDs even further.
