The cryptocurrency market is experiencing a bull run, resulting in the rise of asset prices and the development of new protocols for traders. However, while this may seem like a positive sign, it does not guarantee widespread adoption. To ensure longevity, there needs to be a connection between tangible goods and intangible crypto offerings. Web3 domains offer a solution to this problem and can have practical applications for traditional businesses.
Sandy Carter, the chief operating officer of Unstoppable Domains, discussed how Web3 domain names can be a catalyst for mainstream crypto adoption. One of the key advantages is that the owner of a Web3 domain actually owns the name, avoiding situations where ownership is lost or critical components of a business’s intellectual property rights are compromised. Carter shared examples of small businesses whose websites were unexpectedly removed and individuals whose e-commerce shops were shut down without explanation.
Critics often argue that crypto products and solutions lack utility. However, Carter believes that Web3 domains offer instant utility depending on how they are used. She cited examples of companies selling digital collectibles as NFTs, granting holders access to exclusive art shows and events. She also mentioned famous artists who rewarded token holders with unique perks, such as priority access to meet-and-greets. Additionally, Web3 domains can be used to create loyalty programs for fans and patrons.
When asked about her experience at Unstoppable Domains compared to working at Amazon Web Services, Carter noted that both environments embody a startup culture. She mentioned that Amazon CEO Andy Jassy often refers to the company as the world’s largest startup due to its empowering and mission-driven approach.
To learn more about Carter’s insights, listen to the full episode of The Agenda podcast on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. Don’t forget to explore Cointelegraph’s full lineup of other shows as well.
Disclaimer: This article is for informational purposes only and should not be considered legal or investment advice. The opinions expressed are solely those of the author and do not necessarily reflect the views of Cointelegraph.