W3DNA ecosystem attempts to introduce totally decentralized alternatives for classic DNS registrators.
W3DNA goes live to disrupt traditional domain name systems
As the Web3 revolution disrupts more and more segments of the digital industry, traditional technologies for domain registrations (invented for Web2 Internet) become increasingly outdated.
In general, as DNS and its modules are of crucial importance for every website, the centralization of DNS operations is particularly dangerous for digital businesses. For instance, every website can be shut down voluntarily by its DNS registrar even if it is a profitable business or popular news outlet.
Also, the process of domain name purchasing is not transparent at all: potential customers cannot control the politics of DNS registrators. As such, the procedures of selling attractive domain names can be shady. Meanwhile, this business comes with enormous profits: popular or catchy domain names can be sold for millions of dollars.
Last but not the least, the process of reselling of “traditional” domain names can be quite sophisticated. Here’s why the “entry barrier” in this sphere remains high.
Web3 domain name systems like W3DNA (DNA stands for “domain, name, account” here) are of paramount importance to digital businesses. They make the procedure of domain name purchasing transparent, accessible and profitable not only for DNS heavyweights, but for ordinary resellers and brokers as well.
Introducing basic advantages of W3DNA, new-gen decentralized DNS
First of all, W3DNA domains cannot be censored or blocked by competitors, law enforcement agencies, courts and so on. As such, its users always keep control over domains they purchase and can use them in the most profitable manner.
Then, W3DNA domains are minted as non-fungible tokens, or NFTs. This, in turn, unlocks impressive opportunities for all industry participants. As NFTs are cryptocurrency tokens, all operations with them can be checked through public blockchain explorers. There is no possibility of cheating: potential buyers can track the process of minting their domain name asan NFT through intuitive tools.
In this regard, W3DNA’s domain service offers something unique: its domain names can be minted on BNB Chain (BSC), Polygon Network (MATIC) and Ethereum (ETH), the three largest EVM-compatible blockchains with smart contracts. More EVM-compatible blockchains will be introduced in coming months.
This is not the only advantage it has over competitors. For instance, Unstoppable Domains, a platform that pioneered the tokenized domains concept, offers its names for a minimum of $100; with W3DNA, you can buy a domain name on any blockchain, spending only $15. The upcoming mainnet project launch will be celebrated by special promo offering.
Using W3DNA domain names introduces a wide range of opportunities to their purchasers: from personal utility to investment and marketing opportunities that cannot be imagined with Web2 alternatives.
Plethora of opportunities for traders, commissioners and enthusiasts
First and foremost, W3DNA domains can be traded on third-party markets: this leads to unparalleled investing and arbitrage opportunities. Just like other NFTs, they can be offered through Rarible, OpenSea, Mintable, LooksRare and all other major marketplaces.
Based on the experience of previous popular sales, we can track the profits that some mainstream domain names can generate for their holders. For instance, the names associated with cryptocurrency heavyweights like “Paradigm.eth” or tokenized “vanity plates” like “000.eth” or “abc.eth” were sold with up to 35,000x profits. Investing in tokenized domain names does not require specific financial skills and is as intuitive as some passive income programs.
Also, thanks to the fact that W3DNA domain names are released with no traditional “domain zone” prefixes, they are scarce “by default”: creating domain names with a mix of letters from different alphabets, as well as with punctuation marks is impossible on the service. The system works with no top level domains like .com, .eth, .net, crypto, .art, and so on. In fact, each domain in W3DNA is a top level domain by itself.
Then, W3DNA domain names can be used as human-readable public cryptocurrency addresses. For instance, Ethereum (ETH) creator Vitalik Buterin and many prominent Ethereans use .eth domain names for both cryptocurrency wallets and social media accounts. In this case, a tokenized domain name is a comfortable alternative for bulky cryptocurrency addresses. Your counterparties will be able to send you money just as in fiat-based services like Revolut, Venmo and Cash App.
W3DNA tokenized domains can be integrated in decentralized social media platforms. Just like Instagram names, they are a convenient instrument for user identification. Decentralized messengers can also employ W3DNA tokenized domains as new-gen usernames. As the solution is fully on-chain, no one will be able to disclose the real identity of the domain name user.
Wrapping up, W3DNA domain names are a multi-purpose investment and utility product for Web3 that unlocks impressive opportunities for various segments of the crypto revolution.