question Would you use a domain marketplace based on crypto?

[blakebrown]

Hey everyone,

I'm curious if there'd be any interest in a new marketplace for listing/auctioning domains with crypto? I think this would alleviate some of the problems I've read about on here so far:
- Offers on auctions/listings would be fully legitimate, it'd be impossible to fake
- All sales would be reported publicly, but you'd still have privacy because you wouldn't know the actual person who sold the domain only their wallet address
- Lower commission rates, crypto marketplaces are usually 5% or less
- All sales/payouts would be instant

I'm thinking about sinking a lot of time, effort & money into building this. So before I do, I just wanted to confirm if this is actually something you guys would want? Also, would you have any preference on Ethereum, Solana, or USDC as the default currency of the platform?

 

[bmugford]

That's not even true according to their own terms.

https://nic.box/license

b. Reserved Rights. You do not gain any right, title, or interest in or to any .box domain name corresponding to Your NFT except in accordance with Your .box Registration Agreement. A .box domain name Registration Agreement is required in order to register the .box domain name corresponding to the NFT. The NFT is used to access the .box App and the .box App must be exclusively used to change settings of the associated .box domain name, except for the nameserver which cannot be changed except by Us. Being the registrant of a .box domain name does not entitle the name holder to the corresponding .box NFT, however whomever owns the NFT will have exclusive access to the corresponding .box domain name settings.

...although I wouldn't put much faith in whomever wrote those terms....

This Agreement shall be governed by, and construed in accordance with, the law of the Grand Cayman without regard to any conflict of laws principles.

Grand Cayman is one of three islands making up the Cayman Islands, which is a British Overseas Territory. Grand Cayman is not some separate sovereign entity apart from the Cayman Islands. This is like saying "the law of the Long Island" to refer to the laws of the State of New York.

This part is also interesting:

https://nic.box/abuse

If your .box domain name is cancelled or transferred in accordance with this Abuse Policy or in accordance with the Registration Agreement, your corresponding NFT will also be cancelled or cancelled and reissued to the transferee.

Good find.

This is essentially just a standard domain in a shiny wrapper.

If someone wants to register a .box domain because they like the extension, go for it.

However, people should know what they are actually getting.

The web3 part doesn't really mean anything when the domains are governed under ICANN policies.

Brad

 

[jberryhill]

The web3 part doesn't really mean anything when the domains are governed under ICANN policies.

Not just ICANN policies, but the law of the Cayman Islands.

Witchcraft is illegal in the Cayman Islands, as are a number of other things.

Here is the list of "Prohibited Publications" in the Cayman Islands:

https://legislation.gov.ky/cms/imag...ProhibitedPublicationsOrder_1998 Revision.pdf

Lol....

The publication “Sex” by Madonna

 

[jberryhill]

This is essentially just a standard domain in a shiny wrapper.

It's not even that. There is apparently only one registrar, and the registry controls the nameservers.

So, you get fewer options, less control, narrower speech restrictions, and the same rules that apply to any other "web 2" domain name.

What's not to love?

I'm amazed at how easy it is to fool people if you use the right buzzwords.

 

[bmugford]

It's not even that. There is apparently only one registrar, and the registry controls the nameservers.

So, you get fewer options, less control, narrower speech restrictions, and the same rules that apply to any other "web 2" domain name.

Isn't the entire point of web3 supposed to be decentralization?

You could not get more centralized.

Brad

 

[jberryhill]

You could not get more centralized.

I know, right? More restrictions and less flexibility than a .com name.

What really nails down that this is just marketing hype to continue milking people who will buy anything that says "web 3" on the label, is the main selling point itself mentioned by our friend above - "frictionless transferrability".

That's not what any end user of a domain name wants.

I mean, sure, yeah, if domain names are just trading tokens in some vaporous pyramid trading scheme, sure, yeah, that's a great property.

But if someone is actually looking to build some sort of digital presence or identity tied to a domain name, go ahead and be the guy at the management meeting of a billion dollar corporation and say, "We should get a .box name" and then when asked why, follow up with "It will be very easy to transfer it to someone else."

And then explain that you can't run your own nameservers or manage it with all your other domains, and that the single control interface comes down to one person in the organization having an app and a token.

What is the problem solved here that makes it worth all the nonsense?

 

[HotKey]

You don't always need a "problem" for another solution, per say, sometimes just a better way to go about getting it done. All this stuff seems like a clusterfk today but it might iron itself out at least these folks are trying.

 

[jberryhill]

at least these folks are trying

True humanitarians.

 

[HotKey]

True humanitarians.

Oh c'mon

 

[NameMaxi.com]

It's true. It is an NFT. But you are thinking all NFTs cannot be burned or removed. In actual fact, depending on the NFT contract, there are contract methods if coded that can do something to it.

In this case, the Registrar/NFT contract owner can burn it to respect ICANN Rules and this is probably the only way to do it.

 

[NameMaxi.com]

Also I think the discussion went to .box because its the hot new thing but you can actually bring a lot of other TLDs on chain.

yes as a shiny wrapped that you can trade.

Here is my 08000.xyz that got sold

https://opensea.io/assets/optimism/...812591293204848878408208153780803657899983627

 

[jberryhill]

You can set up a Facebook page, encrypt and embed the access credentials in a token and provide an app which allows you to edit the Facebook page as long as you have the token.

Then you can go off selling "web3 Facebook pages" I suppose, but all you've done is provided a less convenient interface to a centralized resource you don't control.

But, sure, it will be really easy to transfer. And that's a big plus, because when you have something that hardly anyone wants, being able to quickly and easily get rid of it is a big plus.

 

[jberryhill]

There are 1000 NNN combinations and 17,576 LLL combinations...