How do freename royalties work?

freename royalties

In answering the question, how do Freename royalties work? Let’s first look at Royalties in general and in practical use.

Royalties, often known as royalty payments, are sums of money given to another party in exchange for continuing to use their assets. For example, in exchange for a (royalty) compensation, musicians often agree to have their albums played on the radio, streamed online, or sampled by other musicians in the music industry. But not only musicians are entitled to royalties when their work is used, anyone who participates in the creative process, including songwriters, composers, publishers, authors, and producers, may be eligible to receive royalties.

However, since its inception, the system for royalties payments has been plagued by problems, with artists frequently dealing with issues like fraud, lost or stolen data, delayed payments, disputes over ownership, and a lack of urgency on the part of distributors to adjust to the needs of the digital age on the internet.

Fortunately, a surprising yet welcome solution has started to gain hold in the creative industry over the past few years, and finally, designers, creators, and artists are starting to see the rewards they are due for their creative labor. Yes, blockchain technology and NFTs have changed yet another industry, and at this point, royalty payments represent one of the most blatant use cases for NFTs.

Every time an artist’s work is sold again, NFT royalties pay them a portion of the proceeds. The best aspect is that the whole process is automated, so no matter how many secondary sales take place, the royalties will always be paid back to the original artist.

The ability for artists to receive a portion of the income from their work in perpetuity is made possible by the blockchain, smart contracts, and the unique identifier capabilities of NFTs. This is exactly how royalties should work.

Now, royalties on Freename are exactly akin to this but differ from what entitles a user to royalties.

Royalties through Web3 TLDs and domain names.

In answering the question, how do royalties work on Freename? We now must define what Web3 TLDs and Domains are, as these are ways through which users can earn royalties on Freename.

Web3 domains are multi-utility NFTs (non-fungible tokens) or “digital certificates” publicly transparent on the blockchain. Web3 domains are distinctive assets that provide a doorway to decentralized websites and services and a practical means of sending and receiving money. Buying a Web3 domain is the first step for those who want to build their Web3 website.

A domain name is the recognizable and memorable web address visitors enter into the address bar on browsers to access a website. Web3 domains are assets on the Web3 internet, and thus one can generate income through them.

Having now seen the relationship between Web3 TLDs and NFTs, it is safe to say that if artists could earn through NFTs, it is also possible for TLDs creators to earn royalties on their domains.

Exactly how do Royalties work on Freename?

Freename royalty consists of an exclusive contract that allows you to generate passive income every time someone registers a domain on a TLD (e.g., .lambo) owned by you.

When the Web3 domain is created or minted, the conditions outlined in the smart contract determine the number of royalties that users would earn. The maximum royalty rate on Freename is 50%, meaning an owner will get the full 50% whenever another user registers on the created TLDs. For instance, if you create or mint new top-level domains with a royalty fee included in the contract, even after many years, you would still receive royalties on them.

Users of the Freename protocol can profit similarly to a Web2 registrar like GoDaddy. Every time a Web3 domain is registered on a user’s Web3 TLD like “.metaverse” or “.airdrop” after they unlock the Royalty license, they get paid half the domain registration fee.

Usually, a Royalty is unlocked by making a one-time payment of $50.

You have the opportunity to become your Web3 Registry by using Freename TLDs. Once you have a TLD, you can turn on royalties by making the one-time payment of $50, so that you get a cut of any domain registrations made by third parties.

The immutability and transparency of the blockchain make all of this possible. The automated processes will ensure that if the conditions outlined in the smart contract are satisfied, the appropriate action is executed: the payment of royalties. The public ledger safeguards the integrity and validity of the artwork.

Additionally, the blockchain will carry out its task without needing a third-party agent or middleman, enhancing the value provided to creators and minters. The following are some other advantages of Web3 TLDs royalties:

  •       Granting creators complete rights over their minted TLDs
  •       There are no ownership disputes
  •       Completely automated payment methods
  •       There are perpetual royalties despite the frequency of secondary use.

Importance of blockchain to Web3

For those looking for ways to earn on Web3, the incorporation of NFTs represents a breath of fresh air. Royalties can be set on virtually anything across Web3.  Fortunately, this is gradually disappearing thanks to blockchain, smart contracts, and NFTs.

There is a good chance that the rise of NFT royalties will lead to a revival of many industries as users feel confident that they will be fairly compensated for their contribution to Web3 platforms because the original creators regain full control over their work and set their terms (without the need for a middleman).

Conclusion

Royalties on Freename work almost the same way other royalties work on every platform. With the help of blockchain and smart contracts, there are no trust issues or delayed payments. Once you create or are the first to mint a new Web3 TLD on Freename and activate the royalty contract, you are certain to earn each time a domain is registered on your created TLD.

Start your Web3 journey with Freename TLDs and Domains. Sign up now and get a welcome coupon code of 10$ on your first purchase. 



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How does it work?

Accordingly to the day when you will finalise your purchase, you have the right to receive from 1 to 3 NFT Domains for FREE!

Once you have completed your order, within 48h you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain/s.

You can chose on which blockchain you want to mint on and minting fee is covered by Freename!

HOW TO USE COUPONS:

Once you have added your favorite items to the cart, you proceed to “checkout” and add your coupon to the “coupon box”.

Said coupon will instantly do its magic and your due total will drop!

COUPON CODE CAN ONLY BE USED ONCE!
ENJOY YOUR SHOPPING AND GIFTS!

How does it work?

Once you have completed your order, you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain value $50 or if you’re lucky a randomly assigned TLD with value $699 (between these: .immersive; .multiverse; .freelancer; .cashback; .hologram)

you can chose on which blockchain you want to mint your NFT Domain/TLD on and minting fee is covered by Freename!

GOOD LUCK!

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Why do i Need a Wallet?

Freename domains are blockchain-based assets and would be minted and stored using a wallet. Users are required to mint and manage their domains using a Metamask or Coinbase-configured wallet. It must be a non-custodial wallet, meaning that one must own the private keys to the wallet in order to approve transactions via a signature.

To benefit from Freename Web 3 domains/TLDs, you must have a wallet. This is because Web 3 domains/TLDs are blockchain-based assets. Users can mint and manage their domains using Metamask or Coinbase-configured wallets.

Keep in mind that it must be a non-custodial wallet. You own the private keys to the wallet (in order to approve transactions via a signature).

Are the Domains Associated with ICANN?

ICANN does not manage freename.io domains. Freename.io believes their TLDs/domains must allow customers to operate independently. Freename.io wants to build a utility infrastructure, allowing customers to use their services for valuable and generative purposes. By leveraging blockchain technology, Freename Web 3 domains/TLDs have no centralized authority imposing rules and regulations.

What is a Wallet?

Every blockchain user requires a wallet in order to interact with the network. A wallet is essentially an account on the blockchain where transactions can be sent and received. It is also where one can store blockchain assets such as cryptocurrency or NFTs (non-fungible tokens). There is no personal information associated with a wallet and none is required to create one. A wallet consists of a public key and a private key. The public key can be safely shared with anyone who wishes to send assets to the corresponding wallet, however, the private key should not be shared and is the key to accessing the wallet in the event where access is lost or to create another instance.

A crypto wallet (cryptocurrency wallet) is software or hardware that enables users to store and use cryptocurrency. With cryptocurrencies, there isn’t any actual money to carry around in a wallet. They exist on the blockchain. Similarly to traditional bank transfers, crypto wallets enable users to send and receive cryptocurrencies, NFTs, etc.

A wallet consists of a public key and a private key. To receive assets, you share your public key associated with your wallet. You should NEVER share your private key.

How do i Claim my Earnings from Freename

ou can withdraw revenues generated passively through a cryptocurrency transfer. Connect your cryptocurrency wallet and, once your withdrawal request is confirmed, the desired amount is pulled from Freename’s reserves and conveniently delivered to you!

Claim your earnings by following these steps:

  1. Connect your cryptocurrency wallet to Freename.io
  2. Request a withdrawal
  3. Receive request confirmation
  4. Receive withdrawal directly to your wallet.

Can i Transfer Domains?

Yes. The domain is stored in your cryptocurrency wallet and can be transferred by you after you have minted it. Access your portfolio, select the TLD or Domain you wish to transfer and type the recipient’s address. Afterwards, you must paste the OTP code you received by mail to confirm the transaction. Keep in mind that currently, it is not possible to import the domain that has been transferred, but it will be possible soon!

Yes. Domains are transferable ONLY after a TLD/domain has been minted and stored in a user’s wallet.

To transfer the TLD (or domain), the user must:

  • Access their wallet
  • Select the item they want to transfer
  • Enter the recipient’s address.
  • Confirm the transaction by pasting the OTP received by email

In the future, Freename.io will support importing domains that have been transferred.

What about Trademarks?

Registering a trademark on your Freename Web3 TLD will allow you to protect your web3 TLD and your logo worldwide juridically.

From the moment you deposit a trademark request, your web3 TLD will be protected worldwide for 6 months awaiting for the Swiss Federal Institute of Intellectual Property (IGE.ch) to confirm and register the availability of your TLD.****

A trademark is any symbol, phrase, or word that allows customers to identify a company’s goods or services. Freename is a web3 domain/TLD provider that also provides trademark registration.

A user must reach out to the trademark department to register a trademark. To get your trademark filed for review at the Swiss Federal Institute of Intellectual Property, a user must provide the following:

  1. Complete a Know your customer (KYC)
  2. A list of TLDs they wish to trademark
  3. Proof of payment

Once these conditions are met, it takes one week for the trademark to be reviewed and logo/TLDs to be provided with six months of worldwide protection.

Is Minting the same as Buying?

Purchasing a TLD (or domain) on Freename and minting it on the blockchain are two distinct steps. When you purchase a TLD (or domain), the transaction is recorded in Freename’s database and not on the blockchain. Minting a TLD (or domain) on the blockchain requires a second step: log into the user’s personal area, select the TLD (or domain) and press “mint TLD” (or domain): done! Don’t worry, once you have purchased a Freename domain, no one can take it away from you!

No. Buying and Minting a TLD/domain are two different things.**

Buying **is the process of recording a transaction on Freename’s database and not on the blockchain.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full control over the TLD/domain.

It is very easy to mint a domain/TLD once you purchase it. Simply:

  • Log into your personal area
  • Select the TLD (or domain)
  • Press “mint TLD” (or domain)

What is Domain Minting?

Minting is the process of publishing a Freename domain (or TLD) on the blockchain via your wallet to gain full custody of the domain. This means that the only person that has control over the domain (or TLD) is the person who controls (has access to) the wallet.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full ownership over the domain.

Minting on Freename.io is as simple as the following steps:

  1. Go to the Freename.io website
  2. Enter the TLD/domain you want to buy in the search bar
  3. Add the TLD/domain to your cart
  4. Go to checkout
  5. Create a Freename.io account
  6. Purchase the TLD/domain with cryptocurrency or a credit card
  7. Go to “portfolio and incomes.”
  8. Click on mint TLD/domain

Which domains are Protected?

Protected domains and TLDs are domains and TLDs that we’ve detected are associated with a brand, organization, or notable person. We believe it is important to increase adoption for the next generation of the internet by helping to onboard brands into the Web3 era. If you are interested in applying for a Protected domain, please contact us.

TLDs/Domains associated with a notable person, brand or organization are considered Protected Domains. Protected domains help onboard brands in Web 3 increasing adoption. Protected domains also protect users from others impersonating/stealing their domains.

Reach out to Freename.io to apply for a protected domain.

Why use Freename?

Freename domains are unique by their very nature: only with Freename you can register domains with unique TLDs for your digital identity while passively earning money!

Freename.io is not only the leading TLD and Domains platform in Web 3, but also lets users generate passive income!

Owning a Freename Web 3 TLD entitles users to receive passive income whenever a domain is bought on their TLD. Users can register and mint TLD/domains of their choice if available.

What is a Domain?

A domain name is a string of letters and/or numbers that points to the IP address of the corresponding website. Generally, it is easier to remember a name than a long string of numbers.

A domain name is an address that people type into a browser bar to find a website. It consists of a Top-Level Domain (TLD), everything that comes after the dot, and the Second-Level Domain (SLD), everything that comes before the dot.

For example, “Freename.io” is the domain name, “Freename” is the SLD and “io” is the TLD.

Which Chains are Supported?

Freename has a multi-chain approach. You can choose on which Blockchain to mint your Web3 Domains and TLDs ranging Among Polygon, Cronos, and Binance.

A user can mint a Freename.io domain/TLD on the following blockchains:

  • Polygon
  • Cronos
  • Binance

Freename plans to expand its multi-chain approach by adding blockchains upon which domains can be minted.

Are there Renewal Fees?

No! Once you’ve bought a Freename Domain or TLD, it’s yours forever, no renewal fees ever!

No. There are no renewal fees on Freename.io. Once a user has paid a one-time payment for a domain/TLD, they own it. Forever.

This is the significant advantage of Web 3 domain/TLD over traditional alternatives.

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