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The Web3 Domain Gold Rush
How Web2 Brands Are Securing Their Web3 Future
brand.eth is the new brand dot com
Are you wondering how quickly web2 brands are hopping onto the web3 bandwagon?
One way to gauge this is by looking at the adoption of web3 domains through services like Unstoppable Domains and Ethereum Name Service (ENS).
More and more companies recognize the importance of web3 domains in their transition to decentralized technology, and we're witnessing a surge in registrations by well-known brands.
And it’s not just hype that’s driving these companies to dip their toes in web3 (although there’s a good amount of it still) - they’re starting to realize the new ways they can interact and build closer relationships with their customers, in ways that weren’t possible with web2 tools.
In this article, we'll explore the growth of web3 domain adoption, discuss how fashion icons and other industries are embracing the metaverse, and analyze the continuing rise in domain purchases and public reactions to web2 brands entering the web3 space.
Strap in! 💺
👉 Lens Protocol: The Future of Social Media
Decentralized social media finally allows creators to own their content, data and followers. And that's why we choose to build part of our media platform on Lens Protocol.
Not only do we possess more ownership over our digital assets, we also find more engaged and valuable community members who are ready to build alongside us.
When your data and content are transferred back into the hands of the creator, building on Lens becomes a no-brainer!
The Growth of Web3 Domain Adoption and Its Applications
(Do you or your brand own a web3 domain? Reply to this email with Yes or No 😉)
📈 The rise in web3 domain adoption highlights the growing interest of web2 brands in utilizing the unique features of web3 technology.
Web3 domains serve as the human-readable form of a wallet address, such as beer.eth purchased by the beer company Budweiser.
Just like in web2, a domain name lets you attach a personality and a brand name to an otherwise soulless web identifier, allowing you to create a website under the same name and build out the virtual side of your business around it.
🌐 However, a web3 domain means a lot more than just an identifier to put in front of a website. It also serves as your brand’s web3 identity across all of the web3 ecosystem. It’s also a:
wallet (send and receive payments)
login (one profile across all social media and apps)
digital content/asset creation powerhouse (mint and distribute NFTs that represent art, music, events tickets, subscriptions etc.)
Web3 domains offer brands new ways to engage customers and create unique experiences that blur the lines between the digital and the physical.
They unlock opportunities like creating NFT collections, offering physical redeemables, granting access to exclusive events IRL and the metaverse, token-gating content, and lots more.
In essence, they allow companies to maintain a greater level of control over their brand identity and reputation online.
But in a deeper sense, both brands and individuals are recognizing the significance of securing their web3 domains, which symbolize their entry into the next evolution of the internet.
This trend mirrors the growth of web2 domain adoption in the early 2000s, which skyrocketed from a few million to hundreds of millions by the 2020s:
The trend certainly is there, but web3 domains are still in their infancy, with the two largest domain registries, Unstoppable Domains and Ethereum Name Service (ENS) together hosting “just” 6 million domains.
💡 By embracing web3 domains, web2 brands can enhance customer engagement, create novel marketing campaigns, and unlock new revenue streams, all under a single name.
Maximize your web3 investments by understanding the current business cycle with our two-part PRO Report series.
Part 2, released last week, explores the macro landscape since COVID-19, addressing sticky inflation, recession, and the banking crisis.
Gain insights into market trends and seize upcoming opportunities – go PRO today! 💪🚀
Fashion Icons, Celebrities and Other Industries Embracing the Metaverse
👗 The world of fashion is no stranger to innovation, and it's no surprise that major fashion brands like Gucci, Prada, Ralph Lauren, Puma and Nike have already begun experimenting with web3, and many of them have also acquired their own web3 domains.
🔧 But it's not just fashion; other industries are also recognizing the potential of web3 and the metaverse. Automotive, sports, technology, hospitality, and retail sectors are all jumping on board.
And it’s not just companies.
Celebrities are also noticing the need to expand their personal branding into the world of web3.
Anthony Hopkins (actor), Jimmy Fallon (talk show host), Jay-Z (rapper), Shaquille O'Neal (basketball player), and many more have also snatched up their domains. 🤯
⚡ This surge of interest from various industries highlights the versatility and potential of web3 domains and the metaverse.
It's a clear sign that we're only scratching the surface of what’s possible, and that brands are itching to experiment with web3.
Get Your Domain While It’s Hot
The trend is clear - brands want their name seen in web3.
Driven by fear of being left behind, FOMO, or genuine desire to experiment with new technology, the outcome is the same: adoption.
Regardless of their motives, brands will discover the true power of owning a web3 domain, which offers much more than a web2 domain. We're still early in this journey, but progress continues and we keep building.
Web3 domains are a no-brainer for personal or company brands.
They signal your web3 knowledge and enable easier brand consistency across the web3 space. All activities are visible on-chain, strengthening your brand's legitimacy and authenticity.
So if you don’t have a web3 domain, what are you waiting for?! Go get one! 😜 (if you don’t know how, check the Explore section below)
🤝 Together with Epic Web3 Conference: A get together of web3's brightest minds💡
Do you want to hear from people working at leading web3 brands such as ConsenSys, Polygon, Binance, Ledger, Uniswap and more?
Then you need to attend the Epic Web3 Conference in Lisbon, on the 9th of June!
A vibrant city, populated by leaders in the web3 space, all coming together to share best practices about how to build and grow web3 products.
The best part? Web3 Academy will be there, hosting a few panel discussions and a community meet-up before the main event.
Want to join us? We've got a 15% discount for you, but ticket prices go up every few days. Enter the promo code WEB3ACADEMY15 to secure your spot!
What’s New In Web3?
Here’s a recap of last week’s Metaverse Fashion Week, hosted in the metaverse gaming platform Decantraland.
OpenSea Pro overtakes rival Blur in key metric as volumes and addresses surge.
Web3 film funding platform Decentralized Pictures announced iPhone Filmmaking Initiative, which will support aspiring filmmakers who create short films on their iPhones.
Are you worried about web3 adoption taking too long? Don’t worry, we’re getting there. Web3 is still nowhere near its main act.
🟣 Hold on, DOers!
Web3 excellence doesn’t come easy: it's time for homework! 💪🤓
Do you want to own a web3 domain, but don’t know how? Follow these guides to get started. Trust me, it’ll be well worth your time.
And once you’re done, change your Twitter handle to show off your new web3 domain, and tag us (@web3academy_) as well so we can retweet your new handle! 😉
To set up an Unstoppable Domain name (for .blockchain, .bitcoin, .nft, .888, .wallet, .dao, or .x domains), here’s a tutorial on how to set them up.
For an Ethereum Name Service domain (.eth), follow this guide to set it up.
Catch up on the final episode of our Wallet Series, where Kyle speaks with Matthew Wright from Argent, the first smart contract wallet built on Ethereum, about the importance of account abstraction in the crypto world and why, in his opinion, is it better and safer to use Argent compared to other wallets in the space. 😉
Thanks for reading and we’ll see you on Wednesday! ❤️
Disclaimer: This article is for informational purposes only and not financial advice. Conduct your own research and consult a financial advisor before making investment decisions or taking any action based on the content.