20

Dec '23

Shiba Inu to Become First Web3 Protocol to Apply for a TL Domain – The Crypto Basic

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Shiba Inu has announced a groundbreaking partnership with D3 Global, a leading domain company, to become the first Web3 protocol to apply for a top-level domain (TLD) of its own.
The announcement came up in the seventh and latest issue of the Shib Magazine. Notably, a TLD is the last segment of a domain name, located to the right of the dot. Examples include .com, .net and .org.
TLDs help to categorize and identify websites, and they are managed by the Internet Corporation for Assigned Names and Numbers (ICANN).
Shiba Inu seeks to create a decentralized TLD that would allow its users to register their own .shib names that could be resolved in the global domain name system (DNS). This would enable them to have a unique digital identity that is compatible with Web2 and Web3 applications.
Notably, other Web3 protocols have generated their own domain names, such as .eth. However, none of these domain names is a TLD, as they are not rooted in the domain name system. As a result, they would not resolve natively in every web browser. 
However, obtaining a TLD is not an easy or quick process. It requires approval from ICANN, which involves a rigorous and lengthy application process. Moreover, it requires the support and participation of the community, as ICANN considers the public interest and the potential impact of a new TLD.
Protocols such as Ethereum would have a difficult time applying with ICANN to secure the .eth domain name in the global DNS due to conflict. Shiba Inu aims to become the first Web3 project to make this application. The team will be applying in the next application window.
To achieve this ambitious goal, Shiba Inu has partnered with D3 Global, a domain company that specializes in bridging the gap between Web2 and Web3. D3 Global is led by Fred Hsu and Shayan Rostam, who have decades of experience and expertise in the domain industry.
“This digital identity unlocks a world of possibilities… ensuring that users can maximize the potential of their names,” said Fred Hsu, the CEO of D3 Global.
By collaborating with Shiba Inu, D3 Global aims to introduce .shib name tokens that would offer users a simple and affordable way to access the benefits of Web3, such as security, privacy, and interoperability.
Shytoshi Kusama, Shiba Inu lead developer, remarked: “We are extremely proud to once again trailblaze decentralization in world history.” Kusama stated that the initiative with D3 represents the first instance where a Web3 project has ventured to secure a stake in the internet.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Joker
Joker

Joker has been buying and selling domains since the late 90's. He has worked with many portfolios and investors over the past decade as well.

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