by 0xbc02db030361121dd43bbb2fcbcb4f9f98c1dc7d (Edgelord)
I believe Decentraland Foundation should set a budget of up to between $10K - $100K and allocate a small team (maybe only one person) to start promoting Decentraland names as an alternative Human Readable Cryptocurrency wallet addresses.
Major upside to Decentraland names is that, there are no yearly renewal fees as all names are subdomains of DCL. Besides this there are many other added benefits like the Worlds, in-world avatar name, use as link etc… to name a few. With the right marketing this will help boost Decentraland as the ultimate Decentralised Web3, Metaverse platform, by bringing in new users through this simple yet effective human readable wallet aspect.
Given that a Decentraland Name costs ~$30 to register and own for lifetime with all it’s added perks, features & benefits, I say we have an opportunity to become a serious competitor in this space and own a large portion of the market share if a team was put together to focus on this. Along with in-depth research and correct market analysis I believe there is nothing out there that can stop us.
Currently there are two major competitors who are competing in this field. One being ENS & the other Unstoppable. Unstoppable Domains are extremely centralised and depending on the name extension they can be very expensive with yearly renewal fees.
Unstoppable Domains currently have 11 naming extension and this is most likely to grow. Registration fees range between $5-$1200 depending on the extension selected. Similar to ENS Domains, Unstoppable Domain also have yearly renewal fees
ENS Domains are decentralised and they do represent a large portion of the Web3 community when it comes to human readable wallet addresses. One downside is ENS also has yearly renewal fees and for a 3 digit/letter it is $640 per year, for a 4 letter/digit it’s $160 per year and for 5 letter/digit, $5 per year
Allocate a budget of between $10K - $100K from the foundation. If starting with $10K budget, base it upon conversion rate, metrics & performance. At the end of each quarter there should be a review to see whether if the foundation should keep funding this initiative or not. I don’t know if this is something our marketing team can tackle or if a new team (or a specific individual) would need to be hired. Blogs, articles, documentation, videos and whatever else is required to let everyone know that now there is an alternative option for everyone
Although the builder app is working fine for claiming decentraland names, maybe a feature could be added for setting resolver & primary wallet addresses. This will prevent users from going over to ENS App & benefit Decentraland if all the options including setting resolver adding addresses etc… were to be done all within DCL Builder. This could be an ongoing thing if it’s successful and well received by the wider crypto communities. Aim of this is to provide solutions to rising costs & ongoing fees involved with owning a Crypto Wallet Address.