Web3 domains are public blockchain-based domains in the form of NFT that offer users full ownership of their data storage. Its significant advantages are making website creation and hosting on web3 simple along with streamlining cryptocurrency transfers by substituting wallet addresses with domain names.
Why Buy Web3 Domains?
The world is under transition from semantic web 2.0 to web3. With the advantages of cryptocurrencies, DeFi, and NFTs evident, the very mode of how users control their data is being disrupted. Web3 is unique as it uses encryption to preserve financials, individual data sovereignty, and decentralized, distributed networks to fight the failure instead of depending on trusted third parties.
Web3 domain names are DNS addresses built on popular decentralized systems like Ethereum, Polygon, or the Binance Smart Chain (BSC). These domains are, in essence, user wallets. Anyone who registers a Web3 domain name on a blockchain has instant access to all features the underlying network offers. With this, it is evident that Web3 brings the Internet closer to reality by preventing users from being forced into data silos or in danger of censorship due to reliance on intermediation.
Although crypto and NFT activity is in the down cycle, web3 domains are here to stay because of what Web3 offers over the semantic web. For one, there is more privacy and data autonomy as espoused by the guiding principles of blockchains. Therefore, by building domain names on the blockchain, the user is promised resilience and, thus, security over hackers.
How W3DNA Works
While Web3 domains offer advantages over web2 domains, the fragmentation of the blockchain presents problems. Every major public chain can offer unique web3 domains with identifying extensions.
As the opposite, W3DNA is uniting, ridding the identifiers, mainly because W3DNA has a multichain base layer. Users choose any name with no top level domain such as .com, .edu, .net, .eth, attached offered by current providers. Usernames can be registered in any language and do not have to comply with any standard. W3DNA exists as an independent platform, allowing users to choose any domain name of their liking and receive payments in any supported crypto.
The flexibility to use a username without character limits, adopt a plain username without special identifiers like top level domains, and deployment on a protocol pinned on a multichain are the core features of distinction that place W3DNA as the first in the row of future Web3 services. The multichain capability is crucial for users, individuals, or entities because they are not limited to any chains. They can receive ERC-20 or BEP-20 tokens anywhere and at any time.
Trade and Profit from w3DNA Domains
W3DNA domains come in the form of NFTs. Therefore, they can be traded in the marketplaces such as OpenSea for profit. Over the months, NFT domains have been sold for millions of dollars.
As an illustration, the paradigm.eth domain was auctioned for a whopping $2 million in 2021. The crypto venture firm knows the benefits of a web3 domain and splashed big money to control one. Other notable web3 domain acquisitions include the abc.eth and 09jul.eth domains which sold for $254k and $240k, respectively.
With all the features offered by W3DNA, the demand for its domains is expected only to rise organically. Users who buy domains can resell them later for an enormous profit or even choose to keep them for their benefit, considering the multichain foundation and security W3DNA is built on.
Conclusion
W3DNA is a top-tier service provider pushing for the adoption of Web3 domains available as interoperable NFTs. As users receive payments in any crypto to the domain directly, there is better control of data in a secure environment anchored on underlying decentralized networks.
