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What’s the Buzz Around Web3 Domain Names?

Posted on 2023-04-20 · 10 min read


Among enthusiasts, Web3 domain names seem to be the best thing since sliced bread. The general belief is that alongside the Web3 ecosystem, these blockchain-based names are reshaping the Internet as we know it. 

However, the hype around Web3 domain names may not really make sense to outsiders. To some, it is difficult to fathom why people would spend over 83,138 ETH (appr. $168 million) and counting to buy and sell virtual blockchain addresses. Yet, such high interest for a single Web3 domain collection — Ethereum Name Service — suggests there is a lot more to these new-age digital assets.

If you are still sitting on the fence about NFT domain names, this blog post is for you. We present five clear reasons why investors are hugely interested in blockchain-based names.

For the basics, a Web3 domain name is a unique identifier that can be used to access decentralized applications, blockchain-based websites, and other Web3 services. The most popular examples are domain names ending in .eth, .crypto, .bitcoin, and other crypto-related terms. There are also newer collections such as .disrupt, .hollywood, .myname, .ourname, etc.

Now that you have an overview of what blockchain domain names are let’s discuss compelling reasons why anyone would want to buy a Web3 domain name. 

Reasons to Own a Web3 Domain Name

From the potential for increased investment returns to the opportunity to secure your online identity, buying a Web3 domain name can provide numerous benefits for businesses and individuals alike. 

Reason 1: Earn a return on investment (ROI)

One of the major reasons you might want to buy Web3 domain names is that it could help you make more money. Having a Web3 domain name can be a useful investment that pays off in a big way over time. 

For example, some companies and people who bought and sold Web3 domain names saw a return on their investment of hundreds or even thousands of percent. Popular beer brand Budweiser invested 30 ETH (appr. $96,000) at the time to buy the budweiser.eth domain name for its Web3 expansion. 

As the Web3 space grows, blockchain domain names could become more valuable, as was the case during the Web2 internet era. Investors holding or squatting on the most desirable names may be richly rewarded.

Reason 2: Opportunity to secure your online identity

In the Web3 space, online identity is becoming increasingly important. Hence, another critical reason to invest and buy Web3 domain names is to secure your online identity. Doing so can also help protect you from phishing attacks and other forms of online fraud.

For instance, imagine you're a prominent Web3 influencer who has built a large following on social media. If you don't buy a Web3 domain name that represents your brand, a bad actor might acquire the same domain and use it to swindle your followers. 

Meanwhile, the centralization issues facing trading social media platforms means influencers can lose their accounts anytime to a ban or security breach. Web3 domain names are less susceptible to such attacks and offer greater security overall. 

Reason 3: Build a Web3 Website

One of the most compelling reasons to own a Web3 domain name is that you can easily build a website pointing to your unique address. In the past, the process of developing such a website was increasingly difficult as there were fewer solutions for regular users.

However, the Eternal Digital Assets QuickBuild tool has been a game changer for the Web3 space. Nowadays, anyone can build a Web3 website in a few minutes and access it using native browsers such as Brave, Opera, and the Freename extension. 

QuickBuild unlocks several new opportunities for Web3 investors. Users can now build an NFT gallery, a personal or community website, or any concept that appeals to their Web3 followership. Individuals may also create a niche around offering Web3 website development services powered by QuickBuild.

Reason 4: Flexibility and versatility

The versatility and adaptability of Web3 domains are extraordinary. For the first time ever, users can do more than own domain names. They can also register top-level domains (TLDs) and earn revenue from domain names registered under their property. TLDs are the last part of domain names such as .com, org, .net, etc.

Leading Web3 domain services provider and EDA partner, Freename offers investors the opportunity to register and trademark TLDs. Users can also be among the first to own domains under highly-sought TLDs such as .disrupt, .myname, and .ourname. Such early adoption opportunities also provide a reminder of why it may just make sense to invest in a Web3 domain name.

Reason 5: Early adoption advantage

Finally, owning a Web3 domain name can provide an early adoption advantage. As the Web3 ecosystem continues to grow, more and more businesses and individuals will want to establish a presence on the decentralized web. By owning a Web3 domain name early on, you can position yourself as an early adopter and leader.

It can provide various benefits, such as increased visibility, networking opportunities, and potential partnerships. Additionally, being an early adopter can also provide a sense of credibility and authority in the industry. It can lead to increased trust and business opportunities.

Overall, investing in a Web3 domain name can provide various benefits, from potential long-term value to flexibility and versatility. As the Web3 ecosystem continues to evolve, the demand for these unique and scarce domain names will only increase, making now an excellent time to buy Web3 domain names.

Summing It Up

Investing in a Web3 domain name is a wise decision for anyone who wants to be at the forefront of the Web3 revolution. From increased investment returns to securing your online identity, the benefits of buying a Web 3 domain name are numerous and undeniable.

At Eternal Digital Assets, we understand the importance of staying ahead of the curve in the Web3 space. That's why we're dedicated to helping people create immense value from this brave new world by providing solutions that accelerate the adoption of Web3 domain names and other digital assets. 

So if you're ready to take the next step in your Web3 investment strategy and buy a Web3 domain name, we encourage you to check out the Eternal Digital Assets marketplace.

Don't wait any longer to secure your place in the Web3 world. Start your journey towards creating immense value in the Web3 space!