Ish Milly Live: Investments and Future of Web3 Domain Market
For many web3 is years away. But for folks like Ish Milly, it’s already here. Freename’s community manager, Beba, had an opportunity to sit down with Ish Milly, accompanied by Davide Vinci, CEO of Freename, to discuss the investments and future of web3. He shared his experience working in the web3 domain market and his views on what the future holds for web3.
The Web3 Domain Market Looks Bright
The likes of celebrity NFTs, cryptocurrencies, and Bitcoin mining may make you think web3 is just another bubble. But web3 is more than that.
Especially in the web3 domain market, the future looks right. Recently, Freename raised $2.5 million. Unstoppable Domain raised $65 million at a valuation of $1 billion. ENS Vision raised $2,000,000. When investors invest in a startup, they aren’t essentially investing in an idea. They are investing in the team and the results they have proven. This steady stream of investment in the web3 domain startups is an indication that the web3 market is here to stay and will mint the new age of millionaires.
The Domain is Truly Yours
In web2, you’re not the true owner of the domain name, even if you buy the domain. You, in a way, rent it from the registrar for a monthly or yearly fee. The moment you stop paying, the domain goes into an auction and is sold off to the highest bidder.
But in web3, the domains are truly yours. When you buy a web3 domain, you can ensure it belongs to you and can be verified. Thus, you can call it a ‘true digital real estate asset.’
Ish feels that a domain name is like your online identity. Therefore, it’s something you must own and not simply rent.
A Whole New Business Models Will Open Up
Ish believe web3 will open up avenues that aren’t here now. When web1 came, people could read websites and get the information. But shopping online or posting comments was not possible. In other means, two-way communication was out of picture. Web2 is when people were able to communicate two ways, order pizza, book flights and so on and so forth.
Web3 will bring about new business models that will change how we work in web2. And according to Ish, it’s going to revolve around digital identity. In the future, everyone will have not one but multiple digital identities. Even the bots will have their respective digital IDs. And it will fundamentally change how businesses run their operations and how people build online communities and transact with one another.
Network and Hang Out with Like-Minded People
It’s hard to predict how the future will exactly unfold. You can only get so many things right. But Ish advises people to enrich their knowledge by talking to like-minded people.
As a founder of Mainer Expo, Ish brings together people from different walks of life who share a common interest: domaining. And when they share ideas, they’re in a better position to predict the future and profit from it.
Thus, to learn more about the web3 future landscape, join webinars, groups, and online/offline conferences that extensively discuss this subject.
Get Early to Reap Rewards
While moving in early doesn’t guarantee results, it certainly tilts the chances in your favor. Ish has a background in marketing, especially influencer marketing. It was only during the Pandemic that he ventured into domaining. He was not early into the game but discovered decentralization and web3 in its infancy.
Thus, he advises people to get early in the trends and explore the industry before others. This will help you reap the rewards with a higher success ratio.