How Unstoppable Domains is Helping People Invest Responsibly in NFTsMay 17, 2021
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Owning NFTs should be fun and safe, not a financial risk. To gamble is “to take a risky action in the hope of a desired result,” which unfortunately sums up a lot of consumer behavior during the NFT boom. At Unstoppable Domains, we think it’s important to educate people about the risks associated with investing in alternative assets like NFTs, and to put safeguards in place to help people make responsible choices with their money.
You can read more about our perspective in this Nasdaq article by our Founder and CEO, Matthew Gould.
Today, we want to talk a little about the actions we’re taking to support responsible investing.
One of our top priorities is educating our community of the risks involved with buying alternative assets or rapidly accumulating a large number of assets. NFTs, like all digital assets, are speculative. As a major innovator in this sector, it’s our duty to transparently inform and remind people of the potential tradeoffs that come with investing.
Brand Protection APIs
On a more technical level, we’ve implemented brand protection APIs to block the registration of common trademarks, brand names, and celebrity names to prevent squatters from buying up domain names to resell to their rightful owners. We’re also limiting the release of premium domain names to a new drop each week, rather than making them available all at once. We put these measures in place to curb speculation and foster sustainable growth.
Pricing and Refunds
Yes, we’ve made headlines for selling “win.crypto” and other domains for a whopping $100K, but 70 percent of our premium domains are priced at $5,000 or less. Many of our domains are just $40 to register. If you happen to purchase a domain and experience buyer’s remorse, we’ve implemented a full refund policy for 14 days on unclaimed names. As long as you haven’t claimed your name (which mints it as an NFT on the Ethereum blockchain, making it fully yours) you can get your money back, no sweat. For more details on this, click here.
If we notice someone is rapidly buying up domain names or otherwise exhibiting risky behavior on Unstoppable Domains, we will send them an automated email to check in. This email provides a reminder of the risks associated with investing and shares our refund policy. We hope that these automated emails won’t go out too often, but we think it’s an important way to help people make responsible choices with their money.
As more and more people learn about the decentralized web, Unstoppable Domains is becoming a gateway to all things Web3. We’ve now registered more than 718,000 regular and premium domain names, and 30,000 decentralized websites are
We want Unstoppable Domains to be a place where people invest wisely and hold on to their blockchain domain names for life. We believe that with the right education and safeguards in place, domain name NFTs will be a major part of the future of the internet.