Key Takeaways
- Magic Eden partners with D3 Global to secure the .magic TLD to create a seamless integration between the traditional internet and Web3.
- This will allow users to utilize a single domain for both web2 and web3 functionalities, such as website navigation, email, and wallet services.
NFT marketplace Magic Eden has partnered with D3 Global to secure the .magic Top Level Domain (TLD).
D3 Global is building the first interoperable on-chain domain network to merge the utility of web3 with existing internet infrastructure.
The application for the .magic TLD, awaiting approval from ICANN—the custodian of the internet’s core infrastructure—represents a pioneering approach to digital identity management. If greenlit, this initiative will allow users to use their .magic domains across both the traditional internet and Web3 applications, merging functionalities such as website navigation, email communication, wallet services, and verified credentials into a singular domain.
Fred Hsu, CEO and co-founder of D3, mentioned that previous web3 identifiers fell short because they lacked integration with the broader internet. “Our partnership with Magic Eden is intended to marry the many benefits of Magic Eden’s web3 ecosystem with crucial connections to traditional internet users,” Fred said.
This move could significantly lower the barriers to web3 adoption. By leveraging the familiar concept of domain names, Magic Eden and D3 are looking to onboard 5 billion internet users into the decentralized ecosystem without forcing them to abandon the familiar functionalities of web2.
Chris Akhavan, Magic Eden Chief Revenue Officer, highlighted the community-centric approach of this initiative. “Billions of Internet users use domains to access and navigate the web daily, and soon they will be able to do the same within the Magic Eden ecosystem, welcoming new users to experience the benefits of Web3 without sacrificing the Web2 functionality they’re accustomed to,” Chris explained.
ICANN has not opened its doors to new generic TLD applications since 2012. This rare opportunity could set a precedent for how web3 entities enhance their visibility and usability on the global stage.
Just like Magic Eden, other web3 projects are also capitalizing on this opportunity; Unstoppable Domains and Kintsugi Global aim to register “.anime” and “.manga” domains, focusing on creating a niche digital space for anime and manga enthusiasts. Meanwhile, Pudgy Penguins is collaborating with Unstoppable Domains to introduce the “.pudgy” domain, exploring new engagement and utility avenues for digital collectibles and their communities.
Read Also: Unstoppable Launches Marketplace for Tokenized “.com” and Web3 Domains