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Bringing Web3 NEARer: NEAR Foundation Ventures into .near TLD Territory

Bringing Web3 NEARer: NEAR Foundation Ventures into .near TLD Territory

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The collaboration between NEAR Foundation and D3 to secure the .near top-level domain signifies a strategic move towards enhancing interoperability and driving mainstream adoption within the Web3 ecosystem.

NEAR Wants .near TLD

On Thursday, the NEAR Protocol team released a statement on its official blog revealing that the non-profit organization NEAR Foundation will partner with interoperable domain company D3 Global to apply for the .near top-level domain (TLD) in the upcoming ICANN application window. This move aims to integrate web domains and the existing Domain Name System to foster mainstream adoption of the open web, particularly for decentralized and interoperable domains.

The announcement stated, 

"The partnership between NEAR and D3 highlights the importance of interoperability in achieving widespread adoption of the open web, offering users and developers enhanced utility and a more expansive definition of identity."

Understanding TLDs

Top-level domains, or TLDs, represent the highest level in the root domain hierarchy. This could allow the NEAR Foundation to use a single domain name for its website, email, and wallet addresses. Furthermore, TLDs function as verification credentials on multiple platforms that are conducive to the development of dApps leveraging existing internet infrastructure. Some common examples of TLDs are .com, .net, and .org.

Enabling Interoperability On NEAR

As a result of this integration, developers and projects on the NEAR ecosystem will be able to utilize interoperable identities across both traditional Web2 Internet and decentralized open web platforms. NEAR Foundation CEO Illia Polosukhin expressed enthusiasm for the partnership, emphasizing the potential for widespread adoption,

“We’re excited to work with D3 to secure the .near top-level domain and extend the power of NEAR accounts across the entire internet. As the functionality of NEAR accounts expands with Chain Abstraction, combining Web3 identity with existing internet infrastructure will help drive mainstream adoption.”

The collaboration with D3 could also lead to a host of innovative use cases on NEAR, from NFTs to SocialFi.

Driving Web3 Adoption

With the help of D3’s patent-pending technologies and DNS, the NEAR foundation can establish Web3 digital identities that are interoperable with the Internet. This integration enables users to employ a single domain for websites, emails, or wallet addresses with human-readable digital identities like Name.near. By increasing the functionality of NEAR accounts alongside Chain Abstraction, D3 sets the stage for Web3 adoption in the mainstream. 

D3 CEO Fred Hsu emphasized the significance of interoperability in accelerating Web3 growth:

“In order for Web3 to accelerate its growth, it will require interoperability with existing Internet infrastructure. We’re pleased to welcome NEAR on our journey to redefine digital identity while offering NEAR users and projects alike more utility by bringing the ‘web’ to Web3.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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