The crypto market is experiencing a bull run, with nearly every asset’s price increasing. Despite the euphoria, rising prices are not a sure sign of mass adoption. The market’s longevity depends on the demand for goods and services, and the connection between tangible goods and crypto’s intangible offerings is crucial to sustain the current bull market. Web3 domains could be a practical solution for traditional businesses, potentially acting as a catalyst for crypto mainstreaming.
In a recent episode of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung spoke with Unstoppable Domains COO Sandy Carter. Carter believes that Web3 domain names can solve the problem of losing ownership of naming rights or critical business components. With Web3 domains, the owner truly owns the name, preventing situations where businesses lose control of their digital identity due to centralized platform companies.
One common criticism of crypto is that blockchain solutions and products, including nonfungible tokens (NFTs) and Web3-related offerings, lack utility. Carter, however, suggests that Web3 domains have instant utility, depending on how they are used. For instance, they can be used as loyalty cards, granting holders access to exclusive events or perks. This can spur more people to purchase them, creating a tangible connection between the digital and physical world.
Web3 domains can also be used as the foundation for a loyalty program for fans and patrons. For example, artists can offer rewards to those who own a certain number of their NFTs. This leverages the digital identity of individuals and can be a significant part of a broader strategy.
When asked about her experience at Unstoppable Domains compared to her time as a c-suite executive at Amazon Web Services, Carter said the two were similar due to their startup culture. However, she noted a key difference: the challenge of swimming upstream against Big Tech companies with the adoption of Web3, which would disrupt the current tech landscape by allowing individuals to own their own data.
For more insights from Carter’s conversation, you can listen to the full episode on various podcast platforms. Please note that this article is for general information purposes and should not be taken as legal or investment advice.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Jonathan DeYoung, Sandy Carter, Ray Salmond, Andy Jassy |
| Companies | Facebook, Amazon, Amazon Web Services, Cointelegraph, Unstoppable Domains |
| Currencies | None |
| Securities | None |
