Is it necessary? No.
Can it be helpful in some ways? Sure.
The vast majority of small businesses are LLC, which is a pass-through entity.
This means when it comes to taxes your business itself doesn't pay the taxes, they are passed over to your personal taxes.
There are tax benefits as well because you can deduct business expenses, then the income passes over to your personal taxes where you can take the standard deduction.
There are also benefits when it comes to asset protection.
This generally only matters on a large enough scale though, especially if you are a sole proprietor with limited domains, income, and expenses.
As far as the name itself I would prefer something like Nelson Ventures vs Nelson Names.
It is a more common ending, and it works a lot better should you want to branch out into different fields.
I am personally not really a fan of domains with domains, names, etc. unless they are really amazing generics or brands.
My company is DataCube LLC. I like the name because it kind of works for anything in the tech field.
Brad