RWAs.com to beat NFTs.com

[radarcrypto]

Couple of years ago I foresaw a 8 figure sale for NFTs.com
https://www.namepros.com/threads/2022-most-expensive-domains-wanna-bet.1262452/

Today I just discovered that RWAs.com is also for sale (have been checking the site for the past year regularly)

RWAs (Real-World Assets) are probably the biggest thing that will happen to the financial world in the next years, basically putting every single asset onchain

I have no idea how much the owner wants but this will be probably the most important domain in the market for the next future and I will be not surprised if it beats any previous record

Have a good summer domainers!

 

[bweick]

To contribute a little to the RWA discussion, I'm in the process of launching a RWA exchange and one of the asset types we'll be supporting is domains. We're focused on bridging traditional apps with blockchain tech, previously we've built a Venmo-based onramp by creating cryptographic proofs of payment (zkp2p.xyz) and we'll be using similar techniques for our broader exchange that supports event tickets and domains to start (and more to come!).

We plan on offering significantly lower fees than services like Namecheap and GoDaddy (flat 2.5% fee) and all exchange is secured by cryptographic proofs of ownership and smart contracts.

If anyone is interested in learning more and potentially testing it out would love to chat! Interested in trying to solve some of the pain points for domain sellers.

 

[Kyle Tully]

! Interested in trying to solve some of the pain points for domain sellers.

I’ve been playing with a few platforms this week and the biggest pain point I see so far with domains on blockchain is needing to transfer your domain to the platforms account.

This is a significant risk factor compared to nft markets where the asset is always held in your own wallet.

If I get kicked off opensea I just can’t use opensea. If I get kicked off one of these platforms, or they get hacked, or an employee goes rogue etc, I could lose my domain.

How are you thinking about this issue?

 

[Future Sensors]

the asset

We can have a separate discussion on what exactly the ‘asset’ represents in the case of NFTs. Often, it means ownership of a unique digital item, such as digital art, music, or virtual real estate. The NFT itself is a token stored on a blockchain, which links to the asset, but the asset itself can be stored elsewhere. Essentially, owning an NFT means you own a unique identifier for the asset, not necessarily the asset itself.

 

[Kyle Tully]

We can have a separate discussion on what exactly the ‘asset’ represents in the case of NFTs. Often, it means ownership of a unique digital item, such as digital art, music, or virtual real estate. The NFT itself is a token stored on a blockchain, which links to the asset, but the asset itself can be stored elsewhere. Essentially, owning an NFT means you own a unique identifier for the asset, not necessarily the asset itself.

Yeah I know but it’s just easier for people to conceptualise that it’s “in” their wallet

 

[Kyle Tully]

Love the “maybe “ reaction @Future Sensors

I have web dev clients who still don’t grasp the difference between their domain name, their website, and their hosting.

Getting normies to understand cryptographic blockchain ownership is a long way away

 

[Future Sensors]

Totally agree @Kyle Tully

In general, there are already a staggering number of dependencies in current software and computer systems, and this complexity is even more pronounced in the crypto world. The intricacies of blockchain technology, cryptocurrencies, and NFTs can be bewildering for the average user. Their mechanisms are often opaque and it requires significant technical knowledge, making it hard for the common person to fully understand the risks and benefits. As a result, much of the crypto ecosystem is built on trust, which can be challenging to assess without deep technical insight.

 

[HotKey]

As a result, much of the crypto ecosystem is built on trust, which can be challenging to assess without deep technical insight.

Or hope. Which explains so much of what's been dashed in this field.

 

[Future Sensors]

RWA desperately needs some great artwork like this to succeed.

https://twitter.com/x/status/1371549960030842893

 

[bweick]

I’ve been playing with a few platforms this week and the biggest pain point I see so far with domains on blockchain is needing to transfer your domain to the platforms account.

This is a significant risk factor compared to nft markets where the asset is always held in your own wallet.

If I get kicked off opensea I just can’t use opensea. If I get kicked off one of these platforms, or they get hacked, or an employee goes rogue etc, I could lose my domain.

How are you thinking about this issue

Great question. So you won't need to transfer to a different platform for us. You can keep the domain on its current platform (to start we'll support Namecheap) and all we do is a) validate you own the domain according to Namecheap and b) validate you've transferred the domain to the correct person on Namecheap when selling the domain.

Essentially we're acting as a listing and escrow service but the escrow is unlocked by cryptographic proofs of transfer. Happy to get into what makes a proof "secure" and how the proofs are generated if you want. Perhaps a closer description is akin to escrow.com but we've built in some domain specific logic and everything is fully driven by these proofs. So as a seller if you transfer to the correct person and create the proof you get paid out.

I'm sure that's a lot but happy to answer more questions!

 

[bweick]

Also should say we aren't trying to represent any of the domains as NFTs or RWAs on-chain. Were purely using blockchain for settlement for now though have some plans on how we can leverage it to grow the marketplace further

 

[Future Sensors]

I'm sure that's a lot but happy to answer more questions!

Before proceeding, there's a special promotion section on NamePros.

 

[bweick]

Before proceeding, there's a special promotion section on NamePros.

Noted think I need to be approved to post there or something? But will move the discussion there.

 

[bweick]

Love the “maybe “ reaction @Future Sensors

I have web dev clients who still don’t grasp the difference between their domain name, their website, and their hosting.

Getting normies to understand cryptographic blockchain ownership is a long way away

Yeah I thnk the main thing is trying to give really tangible areas where it can be obvious. Alongside the domain marketplace we're also doing a similar thing for tickets. Tickets are interesting because when you buy on secondary unless the platform is also the primary market too you don't know if your counterparty actually has the ticket. You can almost "extract" ownership from one platform and port it to another. The one caveat is that you don't get "live" so you can't view it in your crypto wallet lets say. But you can prove ownership at critical times like getting into an event or when transferring the ticket.

There's probably also some analogies you could also draw between crypto wallets and a mobile wallet on a phone. Ultimately the right abstractions need to be presented to the user to make it "click" for them imo

 

[Future Sensors]

Noted think I need to be approved to post there or something? But will move the discussion there.

I think you can just post there, but possibly URLs won't work immediately as a new member. My suggestion is to tell about your project and ask the community for input to further improve. Some domain investors have knowledge in your field, as well.

I do think your initiative is interesting and deserves a dedicated thread.

 

[classicdom]

I think this article covers the topic-

Is the Tokenization of Real World Assets (RWAs) the Next Big Thing After NFTs?

https://mynftledger.com/is-the-tokenization-of-real-world-assets-rwas-the-next-big-thing-after-nfts/