Growing the Web3 Ecosystem with Corporate Web3 TLDsNov 22, 2022·Last updated on Nov 22, 2022
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How corporate web3 top-level domains will help onboard the next billion Web3 users
By Sandy Carter, SVP and Channel Chief, Unstoppable Domains
Digital identity is for everyone. For too long, people have given up control of their data to big tech companies. Web3 domains provide a solution: They give people a portable digital identity that they own and control. By offering Web3 domains at a wide range of prices and building a more intuitive platform, Unstoppable has expanded access to user-owned identity and grown the Web3 domain community. Corporate Web3 top-level domains (Web3 TLDs, or domain endings), like .blockchain and .klever, have a significant role to play in making digital identity a core component of every Web3 community – and bringing the power of Web3 identity to the world.
Unstoppable got started with a set of original Web3 TLDs, including .x, .nft, .wallet, .crypto, .Bitcoin, .dao, .888., and .zil. These brands showcase your participation in the Unstoppable community as an early adopter of Web3 identity. Our original Web3 TLDs will always be limited in quantity – especially since once you buy yours, you own it for life with no renewal fees. Think of these like the more popular TLDs of Web2: With more than 1,500 ICANN TLDs, a select few dominate, like .com, .net, and .xyz. We expect to introduce a limited number of these Web3 TLDs over time, which we’ll do in a controlled manner.
Corporate Web3 TLDs are built in partnership with leading companies and communities like Blockchain.com and Klever, and they serve a different, equally powerful purpose. Corporate Web3 TLDs let people represent a community they’re part of, and in many cases, are the first step in a person’s digital identity journey. For instance, we recently launched .klever with Klever, a trusted provider of permissionless blockchain technology with an ecosystem of 3.5 million people. They’re exclusively available through the Klever app, and best of all, they’re free. Similarly, this year we worked with Blockchain.com to launch our first-ever corporate Web3 TLD, .blockchain. Blockchain.com made .blockchain domains available for free to all 83 million Blockchain.com Wallet users – massively expanding access to Web identity.
The potential here is limitless. Expanding Web3 domains though apps people already use could 100x the space or more. Web3 at its core is about building community, and corporate Web3 TLDs allow us to meet those communities where they are. There are over 300 million Web3 users worldwide: Imagine if each of them could obtain a Web3 domain, for free, that allows them to own their data and represent their favorite apps, games, and metaverses in the process. These network effects will lead to more ubiquity of Web3 domains and more utility through integrations – all things that make Unstoppable domains more useful and valuable.
The potential for digital identity only expands as Web2 companies begin to enter the space and launch their own corporate Web3 TLDs. Paypal has more than 400 million users. Web3 domains have around 500,000. That's nearly 100x growth from just one platform.
In the future, we believe there will be hundreds of corporate Web3 TLDs. As more functionality develops for Web3 domains, you'll start to see more and more synergy of being able to have your domain in as many places as possible, in every app. More advanced users will be able to use different Web3 domains from their favorite brands for different purposes, or even collect them. Many will choose to “upgrade” to one of our original Web3 TLDs, like .crypto or .nft. The value from the increased utility drives the value of all domains together.
Corporate Web3 TLDs provide a path to widespread, mainstream Web3 adoption. While the Web3 domain space has exploded in recent years, we’ve got a long way to go before reaching our first billion people. Harnessing the power of community and offering domains at low cost help us accomplish that – and corporate Web3 TLDs are an ideal way to do both. As the Unstoppable community grows and more people take ownership of their digital identity, Unstoppable domains will become more ubiquitous and useful, benefiting everyone in the UD fam.