Why Everyone Should Have a Web3 Domain?
Blockchain technology is arguably the backbone of the Web3 ecosystem, revolutionizing various industries and shaping the digital world for good. Decentralization, fool-proof security, and complete sovereignty over digital assets are the fundamental aspects of blockchain, but there’s more to it.
The introduction of Web3 domains significantly impacted the progress of blockchain. In just a few years, the numbers have grown exponentially.
The global blockchain market’s revenue will likely surpass $94 billion by 2027 at a compound annual growth rate of 66.2%. Furthermore, the global Web3 market will expand and surpass $81 billion by 2030.
Current trends and expert opinions indicate that now is the perfect time to buy your Web3 domain and make the most of it in the future.
Still skeptical? Keep reading till the end to learn why you should have a Web3 domain.
Permanent Digital Ownership and Control
Did you know only 10 domain registries control almost 23% of all the traditional domains worldwide? These include Godaddy, Namecheap, Google LLC, etc. Furthermore, more than 36% of the internet’s traditional domains are registered under .com TLD, which marks its dominance.
One can imagine how difficult it is to acquire a unique domain name that also matches the brand name. On top of this, you know that you can’t truly own a Web2 domain.
There are three major challenges (or drawbacks):
- You’ve got to be prepared to pay a high price for a Web2 domain name of your choice, and even higher if you wish to buy a .com, .org, or .net domain.
- Be prepared to pay annual renewal fees; otherwise, you will lose its ownership after a certain period.
- ICANN regulates all top-level Web2 domains, so you need to follow their guidelines to operate your website. If not, ICANN has the power to ban your website and its content if you violate their censorship policies.
Other technical issues make life even more difficult for Web2 domain owners. In comparison, Web3 domains pose no such issues.
- Once you buy a Web3 domain, you become its sole owner.
- You don’t need to pay annual renewal fees to keep your Web3 domain.
- Web3 domains are decentralized, meaning there are no restrictions on how you operate them.
- There are no censorship barriers. You are free to upload and share the content with other blockchain users.
- You have a lot of options for SLDs and TLDs on Web3, such as .metaverse, .logo, .food, etc. Even better, if you buy a TLD from Freename and become its registrar, you can earn up to 50% in royalties whenever someone purchases a domain name and registers with your TLD.
Affordable and Cost-Effective
One of the biggest advantages of Web3 domains is that they are well within everyone’s reach. Think about buying a second-level Web3 domain, like .metaverse, and .gaming for just $5. Considering you only have to pay once without renewal fees, it’s worth investing in Web3 domains right now.
We’ve already discussed how consistently the Web3 global market is expanding. This means that the demand for Web3 domains will rise – and now is the best time to buy them.
Excellent Investment
The decentralized internet is adaptable and offers ample room for creativity, hence gaining more popularity.
- Investors, artists, developers, gaming enthusiasts, software engineers, data analysts, and other professionals prefer it over the Web2 Internet.
- Individuals will also be looking to buy these domains because of the freedom, complete ownership, and high-end security this ecosystem offers.
Obviously, they’ll need a domain to build on or interact with other blockchain addresses. This is why the demand for Web3 domains will continue to rise.
To get a higher future value, you can start minting your domain on a safe and secure blockchain to sell it at a higher price later on.
For example, Base is a relatively new blockchain equipped with high-end safety and security features. Minting your domain on Base will not only be cost-effective but also allow you to earn higher profits in the future.
Read Also: Best Web3 Niches To Invest Right No
Valuable Digital Asset
Web3 domains are multifunctional, attracting businesses, freelancers, and individuals alike. With your own TLD, you can create and reflect their brand identity.
Here’s why Web3 domains are more valuable than traditional domains:
- Build your brand website: Create your NFT website and showcase your products and services. You have complete freedom over what to present and how to do it.
- Set up your workspace: Integrate your workspace with Web3 collaboration tools. Backed by blockchain technology’s fool-proof security metrics, teams can communicate without any fear of data breaches.
- Add wallets: Connect and manage multiple cryptocurrency wallets with a single identity.
- Communicate with Web3 emails: You can integrate Web3 email services with your domain to communicate directly with other users on chain.
Web3 domains offer a comprehensive solution for managing all your digital apps, whether marketing, trading, communication, or funding. They’re more practical, logical, and straightforward than traditional domains.
Long-Term Income Source
If you want to create a passive income stream, you should invest in Web3 top-level domains (TLDs). These are domain extensions similar to Web2 domain extensions like .com, .org, .edu, and .net. Web3 TLDs are different, for example, .tradeshop, .platform, .home, etc.
The Web3 ecosystem, as it is relatively new, offers more room for people to invest in TLDs for long-term earnings. As more people register themselves with a particular TLD, its demand will rise.
All you have to do is choose a reliable service provider who can assit you in finding and registering with a high-potential TLD – and offer maximum royalties as well. A platform such as Freename offers a complete setup for TLD registration and trademarking and even helps you build your own TLD.
Freename Royalties – Quick Steps
- Step 1 – Own a TLD: Create and register a unique Web3 TLD at Freename. This will make you the owner of that particular extension, giving you the right to receive royalties if anyone buys a second-level domain and registers with your TLD.
- Step 2 – Activate your license: There is a one-time payment to activate a royalty license for a TLD. After that, you’re all set to enjoy passive earnings from your TDL.
- Step 3 – Start earning: Whenever anyone registers under your Web3 extension, you will earn a commission, a.k.a royalty. With Freename’s, you can earn a maximum 50% royalty on your TLDs, which is better than most Web3 service providers.
Web3 Is Highly Secure
Blockchain technology offers uncompromised security to your digital assets.
- There are no central servers to store your data, preventing the risk of data breaches, malware or cyberattacks.
- The data is distributed and stored over a network of nodes, making it virtually impossible for hackers to decipher it and gain access to your assets.
In short, Web3 domains promise complete control by encrypting and tamper-proofing your data. This is one of the basic reasons why businesses prefer Web3 domains over traditional domains.
Are You Ready to Own you Web3 Domain?
Web3, decentralized domains are easier to acquire, are cost-effective, and possess significantly high future value. Considering future predictions, top-level security and 100% control over your data, investing in Web3 domains is worthwhile.
You can use a decentralized domain to build a professional website, create a brand identity with a unique TLD, or manage your cryptocurrency wallets in one place. But, if you have no digital assets to showcase, you can still earn profits through domain minting or secure a TLD to earn long-term passive income.
So, head on to Freename.io to buy your Web3 domain. The platform offers a plethora of decentralized domains backed by latest trends and future propositions. Access tutorials, expert assistance, and a knowledge-base to get the right kind of support and hop on the Web3 bandwagon, today!
