The digital world is transforming in ways we never imagined, and Non-Fungible Tokens (NFTs) are leading the way. Thanks to blockchain technology and NFTs, social media platforms are beginning to experience a new level of engagement. From customizable avatars to augmented reality items, NFTs are giving big tech companies new ideas. This article will explore the potential benefits of using NFTs for social media platforms and the sector’s best practices. In this context, Instagram's experiment with NFTs represents a peculiar…
Web3 Domain Alliance Announces New Members to Protect User-Owned Digital Identities
Disclaimer: This is a paid press release! Readers should do their own research before taking any actions related to the company. Learn More
Unstoppable Domains commits to not assert against members of the Alliance its patents that are necessary to adopt the Alliance’s interoperability and security standards
The Web3 Domain Alliance, a member-led coalition dedicated to improving the technological and public policy environments for users of Web3 naming services, today announced 52 new members including Blockchain.com, Rarible, Wyre, Bitdegree, WazirX, and Klever, along with dozens of other naming systems, projects and companies.
In order to support the ongoing development of digital identity technology in Web3, Alliance members including Unstoppable Domains will make contributions, including technology, to enable interoperability and security standards. As part of this commitment, Unstoppable has irrevocably agreed not to assert against Alliance members its patents that are necessary to adopt the Alliance’s interoperability and security standards. More information can be found on the Web3 Domain Alliance website. A founding member of the Web3 Domain Alliance, Unstoppable was recently awarded a patent around resolving blockchain domains and aims to support innovation across the Web3 industry through its IP investments.
Members of the Web3 Domain Alliance will engage on topics including consumer protection, interoperability of blockchain naming systems, fair and open use of intellectual property in the industry, preventing naming collisions, and more. Together, the Web3 Domain Alliance will advocate for standards in the Web3 domain industry to foster innovation and a safe environment for people. Recently, the team at Web3 social trading network Metascan deprecated their NFT top-level domain to avoid a name collision and joined the Web3 Domain Alliance.
Sandy Carter, SVP and Channel Chief of Unstoppable Domains, said:
As an early member of the Web3 Domain Alliance, we’re honored to work alongside our new co-members to unlock potential in the Web3 domain space. Together, we’ll build a Web3 domain space where new ideas and innovation can flourish and where more people can own their digital identity.
Web3 domains have seen a rapid increase in interest, with more than 3.4 million domains reportedly created across the industry in 2022 alone. Amid this rising interest, the Web3 Domain Alliance was founded in November 2022 as the first industry group to create standards for the blockchain naming industry. The Web3 Domain Alliance also aims to proactively engage in discussions with ICANN to increase ICANN’s awareness and recognition of Web3 Top Level Domains (W3TLDs).
Lane Kasselman, President at Blockchain.com, said:
Digital identity is the next great frontier of Web3 and we’re thrilled to support innovation in this space through the Alliance. We look forward to helping set standards as a community so we can protect users as the Web3 domain industry grows.
Web3 domains provide a vital component of a person’s Web3 digital identity. Domains can be used, among other things, to send and receive cryptocurrency in place of lengthy alphanumeric wallet addresses, host a website that you fully own, set up secure email forwarding, and sign into hundreds of apps, games, metaverses and more. Web3 domains are minted on the blockchain and stored in a user’s wallet, putting ownership in the hands of the owner.
As part of today’s announcement, the Alliance welcomes 27 new naming systems, including Stargaze Names, iheartdomains.xyz, EDNS, NF.Domains [TxnLab Inc.], United Domains, Threely, Xdc Web3 Domains, Astar Web3 Domains, Tron/Bittorent Web3 Domains, Velas Web3 Domains, IoTeX Web3 Domains, Fusion Web3 Domains, Elastos Name Service, Moon Web3 Identity, Wanchain Web3 Domains, Ontology Web3 Domains, NEAR, OKC Web3 Domains, Meter Name Service, Metis Name Service, Fuse Web3 Domains, Easy IP, IAMX.ID, .CSPR Domains, Metascan, NFTR, and NFT Domains SA.
Additional new members to the Alliance include Blockchain.com, Wyre, Rarible, Bitdegree, WazirX (Bandit), Math Wallet, Guarda, Solo Wallet, My Doge Wallet, OMNI, Talent Protocol, Indacoin, Markmonitor, Revest Finance, Coreum, Cian, LunarCrush, Web23, WAM, NFTrade, XcelPay, Klever, KICA, Wirex, and Puma Browser.
Early members of the Web3 Domain Alliance include Unstoppable Domains, Bonfida, Polkadot Name System, Hashgraph.name, Syscoin, and klaytn.domains.
About Web3 Domain Alliance
Founded in 2022, the Web3 Domain Alliance is a member-led, member-driven organization dedicated to improving the technological and public policy environments for users of Web3 naming services. It exists to promote the development of the Web3 naming industry and the functioning of Web3 domain registries with and across blockchain-based and traditional web applications. The Web3 Domain Alliance is also dedicated to the technological advancement and interoperability of Web3 domain registries.
Web3 Domain Alliance
Press release: This is a paid press release! Crypto Adventure does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Crypto Adventure is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Learn More