Web3 domain names are blockchain-based DNS addresses that allow each user to create and manage their domains. These addresses represent a user’s wallets. They are advanced resources that can be utilized as some other blockchain domain name. These domains can be traded on Cloudname. We shall be considering the best Web3 domains in this article.
The read-write-trust web, also known as Web3, is the third version of the internet. It uses blockchain technology, smart contracts, cryptocurrencies, and NFTs to create a decentralized web. It makes it more secure and robust since it is dispersed across a network of computers rather than being controlled centrally. Additionally, the decentralized web brings a switch from the traditional domain name system (DNS) to a Web3 domain name.
Blockchain-based DNS addresses, known as Web3 domain names, let users construct and maintain their custom domains. They serve as wallet addresses for the users. Users can trade the decentralized crypto domain names on NFT exchanges. The following domain extensions are used in Web3: .eth, .crypto, .dao, .blockchain, .nft, .888 etc.
Web3 domains, sometimes called NFT domains, provide a wide range of use cases and advance what we know about conventional or traditional domains. Web3 domains may be exchanged like an NFT, and one of their primary features is decentralization.
Before we delve into the best Web3 domains, we would first have to state what domains are clearly.
What are Domain names?
Domain names are the data that may translate a string of words from a natural language into an IP or record locator address. In the conventional domain name system, 13 servers worldwide are used to maintain this “ledger”. It’s supervised by a global governing organization and the nations that each control their domain names.
These domains are internationally compatible with the current routers, browsers, applications, and websites.
The list and record requests, as well as verification, are handled on one of several decentralized blockchains in the Web3 domain name system. Without a centralized authority, a set of agreements and regulations control the domain. Private enterprises play the function of marketing and managing ties with the Blockchain.
So, Web3 Domain Names are the crossing point of the Domain Name world and the Crypto universes.
What advantages do web3 domain names offer?
Control over online identity: the best Web3 domain would allow for individual or group ownership, unlike conventional domain names, which big businesses or organizations frequently control. It enables users to express themselves or their brand more personally by using their domain and distinctive identifiers in NFT form.
Lower cost: They are significantly less expensive than conventional domains. That’s because Web3 domains do not need a centralized registrar and do not involve intermediaries. Regular domain names start at $6.98. Web3 domain names, such as the .hmn extension used by the Cortex app, are free.
They are future-proof: Web3 domain names will gain popularity as the internet transitions to a more decentralized paradigm.
Security: Since Web3 domain names are maintained on the Blockchain, they cannot be altered or removed by anybody, making them perfect for storing sensitive data or creating censorship-resistant apps. Since they lack a single point of failure, they are also more resistant to hacking and other types of attacks.
Anonymity: They may be registered anonymously, unlike conventional domains, which frequently need personal information. Users will have better online privacy because their identity won’t be connected to their domain.
The best Web3 domains
There is no such thing as best Web3 domains in their entirety because each serves its specific function and often has specific use case(s). It means that, before you choose a domain, you must consider at least why and for what you need a Web3 domain.
Below is a representative list of the best Web3 domains.
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.Metaverse
The .metaverse domains can be registered on any blockchain users prefer. This TLD has been minted on Freename. Each name is distinct and can only be minted once per first minting. The owners of metaverse TLD receive a royalty on all upcoming purchases of that specific name which in this case is Freename. Each domain can be employed for a variety of purposes, such as hosting your website and substituting the NFT domain name for your lengthy cryptocurrency wallet address.
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.ETH
The conventional domain name investors and blockchain entrepreneurs, two extremely exciting markets, meet at the intersection of the ENS.eth domain names. Sadly, despite there being millions of blockchain users worldwide, very few blockchain domain names have been registered.
Blockchain users have discovered, that picking a blockchain domain name makes utilizing their apps easier. That’s why there is now a sizable pent-up demand for domains. Like with traditional domains, you can also lease out your blockchain domains. Also, you can even set up a lease-purchase deal to let others build brand value on your property while keeping your choices open.
With your .eth address, you can receive any and all types of cryptocurrency in your single .eth wallet.
.X is the ideal option when looking for the most adaptable and memorable Web3 domain. By running your decentralized webpage utilizing one, you may utilize this name to start establishing your profile and strengthen your position in the Web3 realm.
You may considerably abbreviate your wallet address with your .x domain. It helps you and anybody with whom you do business remembers your address more easily.
The suffix “X” is likely to become one of the most well-liked Web3 domain suffixes since it is brief, adaptable, and simple to remember.
Being one of the original domain extensions introduced, .com has remained among the most well-liked over time. And for the same reason, .x has the best chance of becoming the most well-known NFT domain.
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.NFT
For good reason—they let you own digital assets—NFTs have emerged as Web3’s most talked-about subject.
The best Web3 domain for creators, admirers, collectors, and artists is the .nft domain. You may host NFT websites, trade NFTs, and transfer and receive over 275 other cryptocurrencies using this short name.
Utilizing a .nft domain name is ideal, given that many NFT creators offer a product or service (or both). When you have a .nft domain to go along with your brand name, you can enhance your reputation and let your customers know they are doing business with you and not fake.
The implication is that your Web2 website, social media profiles, wallet addresses, and Web3 websites can all be identical. It enables you to increase your community’s brand perception and foster trust.
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.Crypto
.crypto domains are a cutting-edge solution that offers an unprecedented degree of protection to domain owners represented by single Non-Fungible Tokens (NFT). These websites don’t have a single point of failure and let people post without worrying about being blocked by an outside organization.
Some individuals are often motivated to purchase this domain because it is the first of its type. Owning a domain with the word “crypto” in it may be the holy grail of NFT domains because it was one of the first terms to be “coined” (no pun intended) in the Web3 movement.
Although it’s impossible to predict what the .crypto domain’s future contains, if I had to venture a guess, I’d say that some fascinating things are probably currently being developed using .crypto.
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. Blockchain
You may now register a .blockchain domain thanks to a collaboration with Unstoppable Domains and Blockchain.com, one of the biggest bitcoin financial services.
One of the greatest possibilities for blockchain lovers is the .blockchain domain.
You may receive over 275 currencies and tokens on any blockchain network with this name, which lets you combine all your cryptocurrency addresses into a single .blockchain domain.
It is ideal for individuals and companies who need to set up a simple payment solution. Because this domain will probably be renowned, particularly for cryptocurrency transactions.
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.Bitcoin
The .bitcoin domain is a method for offering Bitcoin users an avenue to create awareness or draw other Bitcoin enthusiasts to themselves.
Also, you can utilize your .bitcoin domain name to supplant your wallet addresses (including other cryptocurrency addresses), have your DAO’s site, and offer your view on Bitcoin with others.
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.Wallet
With .wallet domains, you won’t ever need to worry about sending Bitcoin to the wrong address. Comparable to the blockchain industry, the preferred domain suffix for use with payments is .wallet. Whether doing commercial or personal transactions, possessing a .wallet domain communicates to people that you are a professional.
I think businesses will ultimately utilize this domain exclusively for payments. A .wallet domain might be used to pay bills, loans, and other monthly obligations.
For individuals who perform recurring transactions, the .wallet domain provides a streamlined payment alternative.
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.Dao
The .dao domain is appropriate for advocates of open governance, community, and those in charge of DAO.
Decentralized autonomous organizations (DAOs) are made up of computer-programmed rules that are frequently open to the public and subject to member oversight (not a central authority).
The .dao domain was created with the idea that corporations would likely use DAOs in the future.
Although DAOs are relatively new, businesses can integrate them into their organizational structure. What more effective strategy is there to promote your DAO (and provide simple access) than to create a DAO-specific domain?
Other notable Web3 domains include .moon, .hodl, and .token which are all trademarked by Freename.io. All these can also be minted on freename. The first miner to register a TLD gets to unlock royalties as well, and earn passively from them when domain names are registered on them.
Conclusion
The list of best Web3 domains provided here is not exhaustive; what we tried to do here was to highlight those that are best for specific use cases. Looking to create your domain, Cloudname is the ideal place for you.