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Deep Dive; Metaverse Decentraland Web3 Names

Web3 names are the third iteration of the internet, powered by smart contracts, cryptocurrencies, NFTs, and blockchain technology to achieve a decentralised web. This means that instead of being centrally controlled, it is distributed across a network of computers, making it more secure and resilient. Additionally, the decentralised web introduces a change in domain names from the conventional DNS (Domain Name Service) to a web3 domain names.

Web3 names are blockchain based DNS addresses that allow users to create and manage their own personalised domains. They are addresses representing users wallets. The decentralised crypto domain names are NFTs that users can trade on NFT marketplaces. Hottest Web3 domain name extensions are .eth, .dcl.eth, .crypto, .nft, etc. Registering a web3 domain name requires using a domain registrar that supports the service, like Ethereum Name Service (ENS), Unstoppable Domains or Decentraland Names

The metaverse has been a hot topic of conversation in the recent times. The hottest metaverse Decentraland is currently leading the pack. Along with their in-built DAO & decentralised protocol it’s not hard to see why.

Functionality of the metaverse names are simple yet very effective. Similar to any social media handles, everyone requires a unique ID. Digital ID’s help others recognise you with ease. Web3 names are different to metaverse names because they are usually not interoperable.

Put simply metaverse names are the 3D version of web3 names. Since these names are assignable to metaverse avatars, we can call these 3D web3 names. Most web3 blockchain naming standards don’t have added utility or functionality like the metaverse names.

In my previous articles I’ve mentioned how these names are used for metaverse avatars. You will often come across such legendary names like BobMarley, 123, MichaelJackson, Neo, 007, KanyeWest, Yoda, 003, DarthVader, Skywalker, 00, Pikachu, 222, Goku, Wolverine, Beyonce, Madonna, CardiB, KimKardashian, Satoshi, MJ23, Jedi, Zendaya, 000, Spiderman, AgentSmith, ElonMush, Vitalik, Superman, 971, Batman in the metaverse. But today I will be focusing on the other utility of these names. The url web pointers.

There are two different ways for using Decentraland names as a URL pointer.

1- Pointing To Decentraland;

All decentraland names are assignable to virtual land parcels. The builder page already has this feature integrated. When you go to https://builder.decentraland.org/names you will see two options on the right side, use as alias and use as link. When you select the use as link you will be prompted to select a virtual land. (considering you already own one, or more)

For example, someone who owns the Decentraland name Gotham, can assign this name to his/her parcel or estates in the builder. Once assigned this name through ETH DNS (Eth link) becomes gotham.dcl.eth.link so whoever types this in any web browser would be directed to that parcel/estate inside the metaverse. This aspect alone is a total game changer, because anyone including brands, individuals, artists, businesses, games & experiences can now easily guide all their fans, players, participants, teams via this simple, easy to type and human readable name rather than asking someone to remember or type this below :-(

https://events.decentraland.org/event/?id=35c02b70-8e7f-44b4-8cab-c6fed026bce5

Another worthy mention for using these names as a pointer to metaverse is to emphasise the experience by the name thus giving it more importance and letting others know on a simple glance what the experience will be all about. I mean you wouldn’t expect participating in an event where the url name is batcave.dcl.eth.link only to find out it’s a Pokemon event right.

I feel along with the proper name & matching experiences, this is where the Decentraland names could really shine. For instance Harry Potter franchise wants to host events for the fans, what better name could you have other than Hogwarts as the url pointer name. Hogwarts.dcl.eth.link totally completes the whole experience in my honest opinion.

Use cases are plenty and left to someones imagination when it comes to names. Blackjack name pointing to a casino, Airdrop name pointing to a specific location where weekly/months airdrops are distributed. NightClub name pointing to a virtual disco. Hyrule name pointing to a Zelda themed museum or game. Racetrack name pointing to a car racing game. ArtGallery name pointing to an art event. Flying name pointing to a flight simulator. Octagon name pointing to UFC live events. There are many more examples that can be given. Like I said previously the uses cases are only limited to someones imagination.

With the success of Ensdomains one can only predict Decentraland metaverse web3 names to start gaining popularity given their multiple use-cases. As someone who is closely monitoring decentraland names I can honestly see more users, especially from ENS are now claiming their metaverse names. We can already see name clubs forming. One fine example is 999DCLClub. There will only be 999, 3 digit names available in all combinations. The next club could be the 9999Club. Ensvision have done a marvellous job for Ensdomains categorising the names, distinguishing different clubs. I would assume similar path to be taken for Decentraland metaverse names.

Here’s few examples of URL pointers to Decentraland

blackjack.dcl.eth.link, racetrack.dcl.eth.link, danceclub.dcl.eth.link, dementor.dcl.eth.link, transit.dcl.eth.link, tomasu.dcl.eth.link

1- Pointing To Websites;

You can take users when they visit yourname.dcl.eth.link to any website you desire. This can be a personal website, blog, forum, youtube channel etc..

This is the code required.

<!DOCTYPE HTML>
<html lang=”en-US”>
<head>
<meta charset=”UTF-8">
<meta http-equiv=”refresh” content=”0; url=https://market.decentraland.org/account?page=1§ion=all&sortBy=newest&onlyOnSale=false">
<script type=”text/javascript”>
window.location.href = “https://market.decentraland.org/account?page=1§ion=all&sortBy=newest&onlyOnSale=false"
</script>
<title>Page Redirection</title>
</head>
<body>
<! — Note: don’t tell people to `click` the link, just tell them that it is a link. →
If you are not redirected automatically, follow this <a href=’https://market.decentraland.org/account?page=1§ion=all&sortBy=newest&onlyOnSale=false’>link</a>.
</body>
</html>

I believe there will be more use cases as the code & sdk are updated.

Now, let’s look at some of the metrics for Decentraland Names;

All Decentraland names are ERC-721 NFT’s (non-fungible token)

Ethereum Contract: 0x2A187453064356c898cAe034EAed119E1663ACb8

Contract Submission Date: 2020–02–04

Total Registered Names: 34,967

Total Holders: 13,539

Top 500 Token Holders:

Top 10 Token Holders:

Floor Price: 0.07 Eth

Total Traded Volume: 999 Eth

Marketplaces:

To Claim Decentraland Names:

Goto, https://builder.decentraland.org/claim-name type in the name you would like to claim, approve mana spend. Have your 100 Mana token ready and eth for gas fees. Mana token is available on all major exchanges including Uniswap.

Conclusion:

Web3 can never be complete without the metaverse. Metaverse is one of the key elements in this circle. Most importantly Decentraland metaverse being decentralised in governance and token economics, I would say in the coming years this platform will play a huge role. Each name is a 1/1 NFT therefore a second copy can’t be minted on the blockchain. This is what gives these names their unique unprecedented value. Imagine having millions of users and there is only one Michael, Tom, Sam or Jedi name that can ever be available. Rarity and scarcity coupled with mass adoption may easily further drive the values of these names.

By

JasonX

If you like to see more metaverse Decentraland related content your support is very much appreciated.

Eth: 0x216f23a92670893FA47ddE34e1Fa60FB011c79E4

Mana: 0x216f23a92670893FA47ddE34e1Fa60FB011c79E4

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