You may have already started to consider how best to protect your IP rights in new digital worlds and on blockchain technologies. But did you know that the rise of NFTs, the blockchain, the metaverse and Web 3.0 also have implications for your domain name strategy? In our latest fact sheet, we discuss NFT domains and offer strategies for success.
NFT domains allow owners to use a registered name as a username in games or as addresses for websites hosted on a blockchain. video clip), NFT domains have the same basic function as regular domain names, translating long strings on the blockchain into short, simple and memorable addresses and means of identification.
For example, they can be used as a substitute for a complex crypto wallet address (eg BrandName.wallet) or for your identity in Web 3.0 (eg John Doe.nft). For this reason, NFT domains are also known as ‘crypto domains’, ‘blockchain domains’, ‘decentralized domains’ and ‘Web 3.0 domains’.
NFT domains: Web 3.0, metaverse, the blockchain and NFTs
In our latest fact sheet, we provide a useful “need-to-know” overview of NFT domains and their implications for IP rights holders, and provide advice on how best to protect your IP rights in Web 3.0.
Download the fact sheet below to learn:
- What risk NFT domains pose to rights holders: there is no official authority that controls the NFT domain market or dispute resolution procedure to challenge registrations.
- Why you should register your brand names across (at least) the most popular NFT domains, even if you have no plans to expand into the metaverse, create or sell NFTs, or receive cryptocurrency payments.
- How applying for an NFT domain and setting up a simple website or app on the blockchain, including applicable costs and key differences with the existing domain name system registration process.
The content of this article is intended to provide a general guide to the subject. You should seek specialist advice about your specific circumstances.
