The Web3 Domain name Alliance is a member-led alliance dedicated to providing a standardized architecture for Web3 named users. The alliance has announced 51 members, including Blockchain.com, Rarible, Wyre, BitDegree, WazirX and KLevel. According to the company, this kind of enterprise will help to promote the development of Web3 naming industry and the operation of Web3 domain name registration website.

The Alliance is a member-led alliance focused on improving the technical and social policy natural environment named customer service by Web3. The alliance shows that with the blessing of new members, it will focus on the protection of consumers' rights and interests, the avoidance of naming contradictions, the fair and just publication of applied patents in the industry, and the comprehensive interuse of block chain technology naming. The common goal of the alliance is to support the requirements of the Web3 industry, thereby promoting indigenous innovation and creating a safe natural environment.

In response to the growing enthusiasm for the Web3 domain name industry, it is reported that more than 3.4 million domain names were created in 2022, and the Web3 Domain name Alliance was created in November to formulate the requirements of the blockchain technology naming industry. The working group plans to discuss with the Internet Technology name and Digital detailed address assignment Organization (ICANN) to enhance their understanding and identification of Web3's top domain names (W3TLD).

As one of the founding members of Web3 Domain name Alliance, we are very honored to work with our new fellow members to unleash the potential of Web3 domain name interior space.

She added: "We are going to work together to build a Web3 industry interior space where a new idea and independent innovation can grow rapidly and more people can have their own digital identities."

Last November, Cointelegraph reported that unstoppable domain names launched the Web3 Alliance, which is looking to establish its own regulatory shareholders' meeting. The initial participants of the alliance included Bonfida, Tezos domain names, Polkadot name system software, Hedera, Sycoin and Klaytn name service projects.

In 2022, after the trend of irreplaceable tokens and the popularity of digital identity files, the irresistible domain name raised 65 million yuan in the first round of equity financing, pushing the company's valuation to $1 billion.