It can be very frustrating when the domain name you desire or your brand’s trademark name has already been registered, especially given the internet’s importance in this day and age. There are usually two options when this occurs: repurchase the domain from the current owner or file a lawsuit to legally regain the name. So was the case during the early days of the web in the 1990s and 2000s.
It was known as the “dot-com era” because many businesses opted to register their company domains with.com extensions. In fact, some people refer to that time as Web 2.0 because it marked the transition from static to dynamic, user-friendly websites. Businesses and brands that ignored the online paradigm shift and refused to claim their trademark names were forced to do so through legal battles or pay exorbitant fees to repurchase them.
We are again entering another iteration of the internet, Web 3.0. This new web version can be described as a decentralized internet powered by blockchain technology. Moreover, as with the previous transition to web 2.0, individuals and businesses are again at the risk of cybersquatting, domain infringement, and trespassing. There will undoubtedly be far-reaching consequences for users and businesses that choose to ignore this transition and do not obtain their web 3.0 domains. The truth is that web 3.0 is the internet’s near future, and it is here to stay.
Cybersquatting
Although there are a variety of laws in existence to protect online trademarks, these laws can only be invoked if the present domain owners are cybersquatting or their acts are considered an infringement. It is only deemed cybersquatting in certain instances. Which are:
If the domain is registered in bad faith
This happens when a domain name is registered to exploit a company’s trademark, particularly for unlawful or dishonest purposes. It could be to prevent the original trademark owners from using the name, to generate web traffic, or to disrupt such trademark name owners’ commercial operations. Some cybersquatters also infringe on trademark domain names for nefarious reasons such as fraud, deception, etc.
If the domain name is confusingly similar to the trademark
Another cybersquatting technique is registering multiple variations of the original trademark names. Cybersquatters register a name that is confusingly similar to the trademark name to trick others into thinking it is the genuine trademark domain.
Domain Infringement and Cybersquatting in Web 3.0
Since we are still in the beginning phases of this new online system, domain infringement and cybersquatting are almost certain to be widespread. This is because many people who know the importance of the internet and the imminence of web 3.0 are already taking action and investing in domain names. As a result, if you, as an individual, business, or trademark owner, do not act as quickly as possible, your trademark brand names are very likely to be claimed. That, however, is not the only bad news. The bad news is that with web 3.0, you do not have the luxury of law or legal power. This means that suing to reclaim an infringed trademark domain is out of the question.
This is primarily due to the fact that web 3.0 is a decentralized system, which means that no central authority can arrange a domain ownership takeover unless the individual who has claimed it willingly transfers ownership. Moreover, the fact that web 3.0 provides users greater privacy gives the cybersquatter an edge because they are completely anonymous, and their identity cannot be traced to the domain or website.
As a result, the only viable remedy to this common web problem of cybersquatting is to prevent it from happening in the first place. This means that as a trademark name owner, you need to claim your free Web 3 NFT Domain now. The good news is that web 3.0 is still in its formative stages but is evolving quicker than you would imagine. Therefore it is safer to claim these trademark domain names now while they are still reasonably priced. In fact, trademark owners can even buy back already claimed names at this stage because they are still relatively affordable.
Which Web 3 NFT Domain Should You Register
Since the start of the web 3.0 frenzy, a plethora of NFT or crypto domains has sprung up, all claiming to provide complete decentralization, which is the core goal of web 3.0. However, despite their differences from the old ICAN-governed web 2.0, most of these crypto domains are not all that decentralized.
However, one domain naming system that ticks all the boxes when it comes to complete decentralization is Handshake. The naming system appears to be the polar opposite of the ICANN traditional web system because, unlike ICANN, it decentralizes the domain root zone rather than storing it in a centralized location and issues a limitless number of top-level domains. Handshake improves on every single flaw characteristic of the traditional web system, giving users more control, autonomy, privacy, security, and anonymity.
How to Claim Your Handshake Domain using Namebase
Nambase is a secure and easy-to-use platform where users can register their Handshake domains. The procedure begins with the acquisition of HNS coins, after which you open a Namebase account. The HNS coins will be used to bid for any desired top-level domain when you locate it. The bidding procedure goes on for a while, and the highest bidder eventually wins. You can visit https://www.namebase.io/register/yw2yln) to get started on claiming your own web 3 NFT domain now.
Conclusion
Web 3.0 is the internet’s future. Like the last transition into web 2.0, the web system is again infested with cybersquatters attempting to capitalize on this transition. The only way to avoid this inherent problem of domain infringement in web 3.0 is to claim your web 3.0 domain today before cybersquatters prey on it.