Freename is the leading TLD and Domains platform in Web3. Users can register and mint their own customized Lifetime Web3 TLDs. They empower users by giving them access to Lifetime Royalties and Trademarks to protect their digital identity.
Owning a Freename Web3 TLD entitles users to a 50% passive income for every domain purchased on that TLD. Freename also charges no fees. You buy your TLD/ domain and you own it forever. There is no ICANN charging renewal fees and transaction fees.
What are Web3 Domain Registrars?
A domain registrar is someone who is accredited and regulated by ICANN (Internet Corporation of Assigned Names and Numbers). They provide domains for anyone to buy. Some Web2 Registrars include GoDaddy.com, Sav.com, and Dynadot.com.
Web3 registrars are essentially the same, with one key difference. They use blockchain-based technology. Why does this make them different? Because they are not subject to the problems faced by Web2 registrars. ICANN is a centralized authority that maintains, standardizes, and regulates the whole domain industry. This has led to some problems. For example excessive costs (registering a TLD for 10 years would cost you upwards of $185,000), scalability (with their restrictions), and centralization issues.
Web3 offers a more equitable solution, both to the registrars and end users. This is because of blockchain technology. Freename seeks to harness the potential of blockchain technology to reach to goals of:
Decentralization of power. ICANN’s scope of influence does not affect Web3 domains.
Customizability. Most Web2 domains are taken or simply not available. With Web3 domains, you can mint, create and manage your own personalized domains without ICANN imposing rules and regulations.
Freedom. You have complete authority over your domains and you don't have to pay renewal fees. This is a big difference between Freename and Web2 registrars.
Income. Since you have full ownership of your domains, you can sell on a secondary market without any middleman taking a cut. Freename also provides royalties to empower end users.
Freename removes the complexity of the cryptocurrency market. They standardize Web3 usernames to facilitate easier and more efficient payments. This helps facilitate flexibility. For example, your client asks to pay you using crypto. With Freename.io, you can accept payments using the address “yourbusiness.metaverse” instead of a 42-character hexadecimal string such as: “0xDC25EF3F5B8A177998338A2ADA83795FBA2D695E".
Think of your domain as your bank account address and your 42-character string as your IBAN. Freename also addresses the problems of centralization, security, and empowerment of users. Their multichain approach allows them to rely on peer-to-peer networks that don’t need a central body to verify (or issue) domain names. There is no central authority like ICANN intervening. Freename.io also offers royalty licenses to empower users financially.
Passive income is becoming more applicable to people all around the world. Freename allows you to mint any domain name of your choice. You can mint and register the TLD of your choice along as there is no prior registration. You can also get paid 50% of the transaction fee every time another user buys a domain on your TLD!