Protecting Intellectual Property is important for brands of all sizes. The majority of brands establish their IP online through securing their Web2 domain names such as brandname.com. Over the years, many brands have faced fierce battles to protect their intellectual property from domain squatters. In Web3, the battle against those seeing an opportunity to own property that should legally belong to the intellectual property holder is also apparent.
For many brands entering the Web3 industry within 2022 and the start of 2023, the go-to protection of IP as Web3 identity was to register their ENS Domain also known as their .eth domain. This saw several brands paying thousands of dollars to acquire their ideal ENS Domain for use as their Web3 identity. Notable examples of this include Budweiser paying $96,000 USD at the time of sale for beer.eth, Nike paying $38,000 at the time of sale for dotswoosh.eth and Gucci paying $37,000 USD at the time of sale for Gucci.eth.
With 75% of retailers, according to a survey conducted by Deloitte in 2022 (view survey), anticipating accepting cryptocurrency payments within the next two years, brands of all sizes are anticipating to soon enter the world of Web3 and facilitate blockchain technology. Whereas several brands have participated in the “crypto land grab” to protect their IP in Web3 through their Web3 Domains, ENS Domains opted to not protect brands from paying out thousands of dollars from those who were earlier to the party.
Like ENS Domains, Decentraweb also provides Web3 Domains, however our technology allows anyone to create a Top-Level Web3 Domain. ENS Domains operates the .eth Top-Level Domain and only provides Sub-Level Web3 Domains. Whereas Decentraweb is the leading provider of Top-Level Web3 Domains, meaning a brand can now own .yourbrandname and then mint Web3 Subdomains against this Top-Level Web3 Domain. Decentraweb also differs from ENS Domains as given our team’s rich experience within large corporations such as GoDaddy, Microsoft, Intel and HP, we have protected and reserved Alexa’s Top 10,000 website’s domains, making it impossible for domain squatters to acquire and benefit from a brand’s IP with our Web3 Domains.
Acquiring a reserved Top-Level Web3 Domain from Decentraweb has a simple process. Our team will require a simple TXT record to be added to the domain which is within Alexa’s Top 10,000 Website Domain list to verify ownership. Following this we can release minting of the Top-Level Web3 Domain to a nominated Wallet Address. For brands and intellectual property agencies, who manage IP for more than one website within Alexa’s Top 10,000 Websites you can be provided access to mint multiple Top-Level Web3 Domains within a single transaction - we will just need a simple TXT record to be added to each website’s domain. Our priority is ensuring that we help to protect intellectual property and to work with brands on their expansion into Web3.
Decentraweb’s revolutionary technology takes Web3 IP further than ENS Domains. Brands can use our tech to provide Web3 Subdomains to their consumers. With the majority of retailers as of 2022 anticipating to accept Cryptocurrency payments within the next 2 years, Decentraweb’s technology allows brands to further their brand awareness within Web3. Brands can easily provide access to mint Web3 Subdomains from their branded Top-Level Web3 Domain. This can also be done after the brand has reserved or minted as many Web3 Subdomains as they like, for example we’d recommend reserving shop.yourbrandname, support.yourbrandname, admin.yourbrandname etc. Through issuing of Web3 Subdomains, which can be done openly to all or exclusively to nominated wallet addresses, a brand’s consumers will be able to resolve their branded Web3 Domain to their wallet address. This opens a whole world of possibilities for brands when it comes to brand awareness, integrations and consumer experience. Brands can easily integrate our SDK allowing for when a user connects their wallet at checkout to send a cryptocurrency payment, they can see their branded Web3 Domain as proof of connection similar to how users can usually see their email address.
Decentraweb can also provide custom art for Web3 Subdomains for a truly branded experience- this can include your brand colors and logo. Decentraweb really provides limitless opportunities for any brands wanting to enter the world of Web3.
The expansion into Blockchain technologies, cryptocurrency and Web3 for brands, companies, enterprises and organizations is becoming more apparent day by day. As the largest provider of Top-Level Web3 Domains, we are proudly powering over 12,900 Top-Level Domains at the time of this post. Whereas the expansion into this new world may seem daunting for many brands, it’s important to protect your Intellectual Property and Decentraweb is here to help.
Do you represent a brand who would like to learn more about our technology or register a reserved Top-Level Web3 Domain. Please submit your message through our contact page and our team will be in touch.