To print this article, all you need to do is be registered or log in to Mondaq.com.
You may have already started thinking about how best to protect your intellectual property rights in the new digital worlds and on blockchain technologies. But did you know that the emergence of NFTs, blockchain, metaverses and Web 3.0 also has implications for your domain name strategy? In our latest fact sheet, we discuss NFT domains and offer strategies for success.
NFT domains allow owners to use a registered name as a username in games or as addresses for websites hosted on a blockchain. While non-fungible tokens (NFTs) provide proof of ownership of a single asset (e.g. a digital image, music file, gif, or video clip), NFT domains serve the same basic function as normal domain names, translating long strings on the blockchain into short, easy and memorable addresses and means of identification.
For example, they can be used as a substitute for a complex crypto wallet address (eg BrandName.wallet) or your Web 3.0 identity (eg John Doe.nft). For this reason, NFT domains are also referred to as “crypto domains”, “blockchain domains”, “decentralized domains” and “Web 3.0 domains”.
NFT domains: Web 3.0, metaverse, blockchain and NFTs
In our latest factsheet, we provide a useful overview of NFT domains and their implications for intellectual property rights holders, and offer advice on how best to protect your intellectual property rights in Web 3.0.
Download the fact sheet below to learn:
- What risks that NFT domains pose to rightsholders: there is no official authority controlling the market for NFT domains and no dispute resolution procedure to challenge registrations.
- Why you should register your brand names on (at least) the most popular NFT domains, even if you don’t plan to expand into metaverses, create or sell NFTs, or receive cryptocurrency payments.
- How to apply for an NFT domain and set up a simple website or application on the blockchain, including current costs and key differences with the existing domain name system registration process.
The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.
POPULAR ARTICLES ON: Technology Around the World