The Need to Protect Your Trademark and Brand in the Move to Web 3.0

The emergence of the domain name system was a defining moment in the history of the World Wide Web.  It entirely converted the internet into a necessity for individuals, brands, and businesses. A lot of businesses and brands did not believe the system would amount to much. As a result, many ended up on the dark side of the internet’s expansion at the time.

Today, domain names are an essential digital asset, which is why infringement or permutation of domain names always result in significant legal issues. In fact, the average trademark infringement lawsuit might cost between $120,000 and $750,000 today. 

Moreover, just like in the early days of the domain system, we are on the verge of another transition period, this time into a decentralized web system of Web 3.0 domains. The good news is we are still very early into this transition, which means now is the best time to protect your trademark and brand. So that you will not fall into the negative side of the internet’s latest phase of expansion

Web 3.0 in the Context of 1.0 and 2.0

If you track back a bit to the web 1.0 era, when there were no domain names, there wasn’t as much of a need to safeguard online identity as there is today. This is because they used a unique Internet Protocol (IP) address instead of names, which was quite difficult to grasp and memorize, making it impossible to access websites.

The solution to this difficulty came with the emergence of Web 2.0 and the domain name system, which is managed by a central body (ICANN) responsible for issuing website names and ensuring they are linked to their IP addresses. It is considerably easier to visit websites now that this system is in place. However, the main issue with the system is that it is overly centralized, which means that power is concentrated in the hands of a single entity and users have little or no control over their online identity. As a result, there was a need for a system (web 3.0) that favored users more by providing enhanced security, privacy, anonymity, autonomy, and control. 

With Web 3.0, all the problems associated with this present web 2.0 system are sorted. However, one problem that is usually associated with a transition like this is the issue of domain name ownership.  Businesses and individuals who have created well-known trademark names and brands should be more concerned about this ownership issue. This is because Web 3.0 will be here very soon, and obtaining domain names when the system is fully developed will be difficult and expensive.

However, the true concern is not the increase in the value of domain names, but the fact that other people will acquire them if you don’t get them now. There’s a chance they’ll exploit these names for malicious purposes that will harm your brand or, worse, charge you an exorbitant cost to purchase them.

How does domain Name protection relate to web 3.0?

Trademark owners of domain names as cars.com, Microsoft.com, and ikea.com.cn had to pay exorbitant fees or go to court to reclaim their trademark domain names from cybersquatters who had secured the name before them or had made permutations of it. The point is that domain name infringement and ownership issues have always been a big source of concern, particularly at the beginning of web 2.0, and they remain so now. 

However, you may argue that the legal framework is adequate to protect trademark owners in the event of infringement, whether through cybersquatting or permutations. However, aside from the reality that legal disputes like this are time-consuming and expensive, they are also ineffective within the web 3.0 framework. This is because Web 3.0 is based on blockchain technology, which means there is no central regulatory authority like ICANN that regulates and oversees the system’s operations.

In fact, web 3.0 domains are also known as NFT domains or crypto domains, which mean that once acquired, the owner has 100 percent ownership right forever. It cannot be taken away, censored, removed from the internet, or regulated. Another important element that renders any sort of forced domain name takeover ineffective is anonymity. This means that the proprietors of any domain on web 3.0 remain anonymous, and they cannot be identified unless they expose themselves. The only way to reclaim a domain name from someone who has acquired it is through mutual consent, in which the individual willingly gives it to the original trademark owner.  

How do you Protect Your Trademark and Brand from Infringement in Web 3.0?

Now, think about it for a minute, what if your brand’s trademark name falls into the hands of an individual who intends to use it for malicious purposes, there is virtually no way to save your brand, except by paying exorbitant fees to acquire it back. Well, that is not a preferable option. That is not a desirable alternative. That is why we have come to help you. This is what we will do for you:

• Identify your trademark name and all possible permutations of it.
• Procure your trademark domain name and as many permutations of it as possible, depending on your budget.
• If such a trademark name is already acquired, we procure it for you if the owner is willing to release it.

Even if you consider the absurd option of not switching to web 3.0 at all, the fact is that someone else will do it for you. This implies they will take over your trademark web 3.0 domain names and may use them to hurt your company or brand. Don’t wait till web 3.0 is fully implemented; the time to act is now! Please don’t hesitate to ask us for help: https://hnslist.com/our-services/

Conclusion   

Web 3.0 is inevitable. It is already gaining traction quickly, as many individuals and businesses are already subscribing to the idea and benefits it proposes. Don’t be on the wrong side of this transition; get your web 3.0 domain today!