Web3 domain names are the starting point for three next-generation technologies:
Web 3.0, Blockchain, and Metaverse. Web3 domain names can be used as:
– Web 3.0 websites and apps addresses;
– Cryptocurrency wallet addresses that are human-readable and easy to remember;
– Metaverse user IDs with NFT authentications;
– Collectable NFTs.
Web3 domain names are NFT tokens. Like rare pieces of art, Web3 domain names have collection and trade values.
– In 1999, the domain name business.com was sold for $7.5 million. In 2007, business.com was resold for $350 million.
– In August 2021, Budweiser purchased the domain name bear.eth for 30 ETHs, now valued at around $120k.
– In 2017, the domain name darkmarket.eth was sold for 20,103 ETHs, now valued at around $80 million.