NEAR Foundation applies for .near top-level domain

If a TLD is obtained, it could help close the gap between Web3 and Web2

article-image

NEAR Foundation and Adobe modified by Blockworks

share

Non-profit organization NEAR Foundation, the team behind the NEAR protocol, will partner with D3 Global, an interoperable domain name company, to apply for a .near top-level domain (TLD) in the upcoming ICANN application window.

A TLD is the highest level in the hierarchy of root-level domains. Some of the most generic TLDs include .com, .net and .org, for example. 

ICANN applicants must meet specific requirements before they are eligible to apply, like having relevant operational, technical and financial capabilities to ensure that the company can successfully operate a TLD. There is a nonrefundable fee that totals up to over $270,000 and an additional accreditation fee of $1,000 per quarter for successful applicants.

Fred Hsu, co-founder and CEO of D3 told Blockworks that the D3 team has decades of experience operating TLDs and navigating the application process. 

“We have an incredibly distinguished staff with deep registry-level expertise, process know-how, and key industry relationships that have allowed us to successfully register and/or manage more than 300 TLDs that were approved in the prior application round. Many of these TLDs have grown to substantial scale today including .xyz, .inc, and more,” Hsu said.

If NEAR Foundation successfully obtains the TLD, it can use a single domain on its website, email and wallet addresses. The TLD can also serve as verification credentials across different platforms, enabling developers to develop dapps that tap into existing internet infrastructure.

Read more: The crypto infrastructure is here, but where are the apps?

“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. Illia Polosukhin, the co-founder of NEAR Protocol, said in a press release reviewed by Blockworks.

Polosukhin added, “as the functionality of NEAR accounts expands with Chain Abstraction, combining Web3 identity with existing internet infrastructure will help drive mainstream adoption.”

NEAR Foundation is not the first team to have made moves in the domain space in hopes of connecting Web3 and Web2

Most recently, Ethereum Name Service (ENS), an Ethereum domain naming service, teamed up with GoDaddy, a popular domain registrar, to link wallets to web pages.

Read More: ENS partners with GoDaddy to enable users to link wallets to domains

By integrating with one of the largest web hosting providers in the world, users will be able to easily connect their simplified ENS wallet addresses with their Domain Name Systems.

Updated Feb. 8, 2024 at 4:08 pm ET: Updated ICANN applicant fee information.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

article-image

Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million