Exploring the Vital Role of Web3 Domains in Crypto Market Resurgence and Traditional Business Use-cases
Summary:
This article discusses the role of Web3 domains in the resurgence of the crypto market and their promising use-cases in traditional businesses. It features an interview with Sandy Carter, COO of Unstoppable Domains, in which she addresses criticism toward crypto-related products and highlights their potential utility. She shares instances of nonfungible tokens being leveraged as loyalty cards and digital identities granting unique fan experiences. Finally, she compares her experiences at Unstoppable Domains and Amazon Web Services, and notes the disruptive potential of widespread Web3 adoption for Big Tech companies.
The recent upturn in the crypto market has led to a surge in development and deployment of new digital trade protocols. It's been almost two years in the making, and even though it feels great to see values rise, it alone doesn't guarantee widespread acceptance. For digital assets to continue thriving, there needs to be substantial demand for services and products. A vital element supporting the current crypto boom is the fusion between physical goods and digital crypto offerings. Web3 domains serve this purpose and could be useful for traditional businesses. In the 27th episode of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung speak to Sandy Carter, the COO of Unstoppable Domains about how Web3 domain names might serve as unexpected stepping-stones to mainstream crypto adaptation.
There are myriad stories about how people have lost their business’s intellectual property rights, causing severe distress. Carter believes Web3 domain names offer a solution. They provide a measure of ownership and control to businesses that otherwise fall prey to centralized data ownership. Carter cited cases of businesses that had their websites or Facebook pages inexplicably suspended, undermining their operations.
Crypto-related products often face criticism for their lack of practical use, particularly when it comes to blockchain solutions, nonfungible tokens (NFTs), and anything Web3-related. Yet, Carter believes that Web3 domains offer immediate utility depending on their use. She shared instances of companies leveraging NFTs as loyalty cards for special access to art shows, and famous artists rewarding fans with privileges based on tokens.
Carter highlighted that building at Unstoppable Domains isn't drastically different from her previous role as an executive at Amazon Web Services – both celebrate a startup culture. She noted a significant difference, though, stating that the Big Tech companies make it feel like swimming upstream, especially considering the potential disruption widespread Web3 adoption could bring.
Carter's full conversation with The Agenda can be heard on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. Also check Cointelegraph’s other shows! The information provided here is general in nature and should not be construed as legal or investment advice. This article solely represents the author's views and does not necessarily display the opinions of Cointelegraph.
Published At
1/10/2024 4:10:00 PM
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