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Develop your sustainable presence in BoT (Blockchain of Things)

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Develop your sustainable presence in BoT (Blockchain of Things)

CHOOSE A TOOL FOR A JOB, NOT A JOB FOR A TOOL

I had thought of another article I was to post on the subject of web 3 domains, how I had serially reviewed this industry and the sources of web 3 domains, and how I had consistently found the “unstoppable domains” in as the main supplier. …

After a few months, UD received a Series A injection from Pantera Capital, bringing the total value to nearly $1 billion.

Registration for the Tekedia Mini-MBA edition 9 (Sept. 12 – Dec. 3, 2022) has started. register here. The cost is N60,000 or $140 for the 12 week program.

When I first started writing about it…everyone was like, “What is a Web 3 domain?

But as always, I start with a simple idea that should take ten minutes of my time to write, and I discover other relevant things that are added… I end with a piece of Tekedia that looks like a master’s thesis. Readings longer than 20 minutes are too long for some people.

It was like that when I found out Victor Akujuo‘s post on “2022 being a brutal year for the crypto market”. So I’m resisting the temptation to make it a section in Pantera Capital’s upcoming Series A article “Unstoppable Domains”, and instead just sharing my topical thoughts on Victor’s excellent article separately,

Cryptocurrency was born to offer an alternative to FIAT as an “instrument of value” to trade with. To this day, many in the United States celebrate May 22 as “Bitcoin Pizza Day,” to commemorate May 22, 2010, Laszlo Hanyecz from Florida spent 10,000 BTC on two pizzas. It was never intended as an investment vehicle.

Digital art creations were born to be a collectible and attract collectors. Collectibles have subjective value, as their aesthetics are in the eye of the collector and anyone who chooses to agree with them. People have built collections of all sorts of things, and some of us share that urge with far less intelligent life forms. The Satin Bowerbird ‘makes structures out of sticks…stuffs it with shiny things, like gummies, plastic straws, pens…’ (learningbirdwatching.com), but there’s no no evidence that this collecting behavior is helpful to the survival of wildlife, and can sometimes be a hindrance. As a species, we have curated collections of postage stamps, coins, beer coasters, bottle caps and celebrity memorabilia. One of the strangest I’ve found online is a “Navel Fluff Collection” by one Graham Barker (25 Strangest Collections on the Web).

John Kraski (humorous background) on LinkedIn

The value of collectibles varies over time. For example, as a celebrity’s notoriety fades, so do the memories associated with them. Again, the main force behind collecting is not a good investment to take advantage of in the future.

Web 3 aka Decentralized Domains or Blockchain was designed as a universal identity in Web 3, to develop a Web 3 website, anchor a Web 3 ecosystem and be a proxy for hard to remember long alphanumeric blockchain IDs and easy to make a transcription mistake. (Similar to how Web 2 domains replace an IP identity in Web 2 via DNS)

Now, even though most people can’t even name a 3 web address where they’ve visited or interacted with virtual content, we already have people “domain flipping” 3 web domains (purchasing them through Web3 domain or the blockchain system, and offer them for sale at a premium price). Web 1/2 websites and the domain names that represent them (via DNS) were already very popular when domain flipping started in the legacy domain market.

However, if anyone is determined to get into domain flipping, I’ve included an interesting article on common mistakes. It was originally written for Web1/2 domains, but the principles apply to Web 3 as well. Web 1/2 started around 1995, and with Web 3 relatively new, catchy short domains will always be much easier to find .

I would strongly advise against ‘domain squatting’ (buying a domain related to a known company and then trying to sell it to them (blackmailing them into taking it at an inflated price), or cyber squatting, buying a domain or domain slightly different domain (typo) and conduct dishonest activities pretending to be the real online business. world intellectual property organization made this illegal in 1999, although the interpretation and implementation may differ by country.

Big business interest in Web 3 has not yet heated up and, as you can see, Adidas still has several unsecured Web 3 domain names available, although the provider in this case, Unstoppable Domains, has had the good sense to restrict them and mark as “protected”, to avoid liability if they sold it to a customer.

Web 3 domains are all available, but Adidas doesn’t bite.

Unstoppable Domains is the current market leader in web domains 3. The second largest player is Handshake Domains, which operates through distributors of which Namecheap seems to have the highest visibility. Unlike Web1/2, regulated by IANA/ICANN, anyone can come at any time, start their own blockchain (or partner with one) and create their own Web 3 domain service offering new TLDs ( Third Level Domains). This has the potential to deflate the web domain resale market 3 in the same way that the explosion of AI-generated artwork is likely to impact virtual art collectibles.

SUMMARY:

Look at what you want to do in the BoT (Blockchain of Things) space. Try to spend only what can offer you function.

I buy MATIC, the native crypto on the Polygon chain, because I have functional things going on with this chain, and if I need to get smart contracts, or dApps or other services, I will have to pay for them in MATIC. I’m not holding much, but also, since it’s a chain that more and more stuff is being built on, and my UD domain is there… the activity is ramping up, so its value isn’t going to crash. DeSo is also worth a visit. (Credit Albert Baudouin)

You can also buy cryptocurrency just to pay for other things, if using FIAT is less convenient for you for some reason. Better not to buy more than you need to transact.

Avoid collectibles unless you can appreciate them aesthetically and can afford the money.

If you’ve reached a level of financial independence that allows you to be forgiving, then definitely build your own collection of virtual collectibles if they make you “feel good.” But keep in mind that this requires a mindset that dismisses investment cost as a “past”, and in the future considers them from the subjective value you place on them due to the “welfare factor”. be” and not because they will make money if you sell to them. Don’t spend your children’s future school fees on them thinking there will be money for them when they come of age.

Avoid accumulating collections of web domains 3.

If you’ve been in the business for a while and are familiar as a customer with the processes of using domain registration and hosting services, you’ll be familiar with this. You think of what sounds like a great domain name and register it. This happens several times a year, renewal costs increase. You never seem to be able to get a clarified purpose and then content consistent with the purpose at the same rate as the domain name buildup.

The illustration shows 3 web domains (aka blockchain) for sale on an NFT marketplace. They outnumber digital art. It was a few days after the UD-Pantera series A

We are really into BoT and far from Web 3 becoming a working reality. Accumulating “collections” of Web 3 domain names is probably not a good idea. There is no point in having a lot of blockchain assets sitting around doing nothing. Again, it depends on the level of financial independence. If anyone can afford to be lenient, there are worse ways to spend money than 3 web domains. I would suggest 1-3 domains. One for business. One for personal identity, a third for standalone activity best separated from 1 and 2. But any number less than 3 works!

The main thing is to choose the tool for the job, not the job for the tool!

All online references consulted on 21-08-22:

en.wikipedia.org/wiki/World_Intellectual_Property_Organization

smartchoicedomains.com/2019/04/29/domain-flipping-3-common-mistakes-of-domain-flippers-and-how-to-avoid-them

unstoppabledomains.com

moneyhaat.com/technology/unstoppable-domains-which-offers-nft-domains-as-a-personal-identifier-across-web3-apps-raised-a-65m-series-a-led-by-pantera-capital- at-a-1b-valuation-mk-manoylov-the-block/

namecheap.com

deso.org

learnbirdwatching.com/birds-that-are-attracted-to-shiny-objects

moneycrashers.com/most-valuable-expensive-types-collectibles

linkedin.com/posts/john-mc-keown-nigeria-expert_beyond-crypto-fintech-and-defiis-africa-activity-6909476843259576320-2vqO?

neatorama.com/2008/05/14/neatoramas-guide-to-25-of-the-strange-collections-on-the-web/

linkedin.com/in/johnkraski/

linkedin.com/in/victor-akujuo/

linkedin.com/in/albert-baldwin-83bb7aa/

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