Web3 Domain Alliance expands with 51 new members

The Web3 Domain Alliance, a member-led coalition that aims to provide a standardized framework for Web3 naming services, announced 51 new members including, Rarible, Wyre, Bitgrade, WazirX and Klever. The firms will contribute to the development of the Web3 naming industry and the operation of Web3 domain registries, the company says.

The Alliance is a member-led coalition dedicated to improving the technology and public policy environment for users of Web3 name services. The alliance said that with the addition of new members, it will focus on consumer protection, name collision prevention, fair and open use of intellectual property in the industry, and interoperability of blockchain naming systems, among other topics. The alliance’s collective goal is to uphold standards in the Web3 domain industry, thereby fostering innovation and creating a secure environment.

In response to the growing interest in the Web3 domain industry, as evidenced by the reported creation of over 3.4 million domains in 2022, the Web3 Domain Alliance was formed in November 2022 to set standards for the blockchain naming sector. The group plans to engage in discussions with the Internet Corporation for Assigned Names and Numbers (ICANN) to increase their knowledge and acceptance of Web3 Top Level Domains (W3TLDs).

Sandy Carter, Senior Vice President and Channel Manager at Unstoppable Domains, said, “As a founding member of the Web3 Domain Alliance, we are honored to work with our new colleagues to unlock the potential of the Web3 domain space.” “Together We” We will create a Web3 domain space where new ideas and innovation can flourish and where more people can own their digital identity,” she added.

1inch wallet users get domain names in partnership with Unstoppable Domains

In November 2022, Cryptooshala reported that Unstoppable Domains launched the Web3 Alliance, which aimed to create self-regulatory councils. The first members of the alliance were Bonfida, Tezos Domains, Polkadot Name System, Hedera, Syscoin and Klaytn Name Service.

In 2022, Unstoppable Domains raised $65M in a Series A funding round, raising its valuation to $1B following the NFT boom and the popularity of digital identity profiles.

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