One Of The First Things Every NFT Project Should Do

If there’s something that is of the utmost importance but is often overlooked when people decide to launch their NFT Project, it is buying every website domain under the sun with their name on it!

Let me explain.

As an NFT & Metaverse Consulting Firm, and having acquired IRL experience through launching our own NFT project, when we address the security & safety aspects of our client NFT Project; the first thing we emphasize and insist on is them buying every .io, .xyz, .com, domain possibilities.

Because if they do not, what is at risk is:

Their Future Holder’s Safety

As an NFT Project creator, what is going to happen is that just before, during, or after your mint will begin, when typing your project name, you will find at the very top of google/bing/…search another website than yours that will look absolutely legit!

You will have the “s’’ after HTTP, your project name without spelling mistakes, and a very reassuring .io, .com, .xyz to chef’s kiss it.

More likely yours will look like the suspicious one.

If people are tired, distracted, fomoing, they will find themselves the victim of a scam that could, on the top of stealing their money, completely empty out their wallets.

You actually owe these people whose only fault is believing in you & wanting to be a part of your journey to have a safe experience minting your project and to not be scammed out of their hard-won money.

Ruining Your Reputability:

The second victim of your not anticipating and buying those domains will be you.

In web3, more than any space in the digital & IRL world, the most important commodity is trust.

And in web3, trust is hanging by a very fragile and breakable thread.

Most NFT buyers are extremely cautious, and rightfully so because web3 is a digital Far West.

And if as an NFT Project creator, you’re not even able to take the basic steps to ensure the safety of your holders, it is enough to create a breach of trust and have potential holders run to the mountains.

And truthfully, they would be right to do so.

Becoming Victim of Blackmail

Another case scenario is scammers buying these domains not to ruin your future holders but to bankrupt you.

Whether your project is high profile or not, you could find yourself being subjected to extortionist attempts.

One day, you will open your DM or e-mail box, and find a lovely message from someone who bought one or multiple domain names, maybe even the one you’ve chosen to launch your future website on and ask you a hefty sum to acquire them.

If you do not comply with their demands, they have multiple ways to make you regret it.

Among the threats they will make, you will find: Impersonification. They will impersonate you or a member of your team, and make false promises of gains and privileges to your future holders, and you will find them knocking at your door asking for what you owe them. They can also threaten to have the domain name sold to somebody who will run a scam through it. Another (very convoluted) scenario case: they will succeed in convincing one member of your community to buy the domain name for your project safety, and he will come to you asking to reimburse him. This last scenario is often a scam inside of a scam: The initial scammer (the one holding your name domain) will partner up with another scammer who will come complaining that he bought this domain for your project safety under the belief that you will reimburse him.

Threat possibilities are infinite, and the probability of them damaging your project depends on your scammer’s ingenuity and how ill-intentioned he is.

Don’t you think we’ve done a pretty good job making our case for allocating the budget to buying domains?

Unfortunately, when we talk to our clients about it, often our words are met with heavy skepticism and elicit some eyebrows rising. Buying these domains is considered a waste of money that could be better invested elsewhere.

This results mainly from not fully grasping how web3 works. That in web3, we play with different rules, especially in the NFT playground. That holders are not consumers, that there is no top-down relationship, that trust is everything, and that what web3 stands for is partnership, and equality. Holders are active actors in your project, in many ways, they are your partners, and if they are going to invest their money & trust in you, the least you can do is invest money in their safety.

It is as simple as that.

It’s Basic Ethic 101.

About us

Nefture is a WEB3 Security Company that keeps your wallet safe with our Metamask Extension and allows brands to tap into web3 through 360° support on their blockchain project.

We specialize in blockchain technologies to make your project come to life and cybersecurity to completely secure your web3 journey: from building Smart Contracts, Audits, Minting websites, Dapps, Discord Audits and Securing,… to Security Breaches Investigation and Management!

Start your web3 journey with us: https://agency.nefture.com/

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