The domain name is something we are all familiar with. If you want to visit a website, it is the website url that you type in. Ownership over that domain is something that companies and individuals pay a premium for. The significance of owning a domain like Nike.com enables Nike to control their intellectual property in a way that is familiar and accessible to consumers, not to mention it's easy to find. In the early days of the internet, websites had IP addresses which made it difficult to easily visit a website. Domain Name Service (DNS) allowed the websites we are familiar with today to convert their IP addresses into readable text.
As the age of the internet continues and Web 2.0 evolves into Web 3.0, it is important to consider what the future of the internet will look like for online storefronts, brands, entrepreneurs, and artists.
With the progression of web 3.0 technologies like cryptocurrency, decentralized marketplaces, and decentralized autonomous organizations (DAO) comes the need for a name service that makes crypto addresses memorable and quickly identifiable.