Web 3.0 IP Protection
Discover what Web 3.0 domains are, what kind of threats they pose for your IP rights, and how globaleyez can protect your brand against these threats.
What are Web 3.0 domains
Web 3.0 (or web3) is the third generation of the World Wide Web and currently is the space created by cryptocurrencies, NFTs and their decentralised “storage” database, blockchain.
Its Web 3.0 domains are organised into registries that maintain the list of domains, their owners, etc. Their URLs are a couple of letters following a dot and the TLD. For instance, Ethereum wallets use the extension .eth and bitcoin uses .bitcoin.
Each registry is in charge of issuing domain names to its users, usually for a fee. The owners of Web 3.0 domains have complete control over the data stored on their domain.
Threats of Web 3.0 domains for your brand
Since Web 3.0 domain names consist of regular words and a TLD, fraudsters have ample opportunities to claim brand names as their own domains and most of the brand name Web 3.0 domains are already taken.
So if it is not the brand owners themselves who register Web 3.0 domains in their name, numerous brand protection issues can arise.
1. Cybersquatting in Web 3.0
One reason for the current big rush on Web 3.0 domains may be cybersquatting. We assume some fully automated cybersquatting professionals who already claimed several Web 3.0 domains. Cybersquatting in Web 3.0 functions just like in Web 2.0. Users buy brand name domains with various TLDs, and offer them to the brand for a much higher price.
2. Impersonation
Impersonators aim to make money off your brand’s IP rights. They impersonate the rights holder while purchasing the domain name, then try to sell it to the rightful owner (or anybody else) for a significantly higher price.
3. Branding and reputation
Branding on Web 3.0 is not at all different from branding on Web 2.0. Fraudulent and/or bad quality content like product listings and pictures can confuse shoppers and hurt a brand’s carefully constructed image and reputation.
4. Misspellings of well-known brand’s names
Misspellings e.g. in the form of deviations from brand names within the domains play an important role in making consumers believe they’re dealing with the authentic brand. Fraudsters impersonating your brand may use these to dupe consumers, or simple cybersquatters could also purchase these misspelt domains to sell them on to you.
Our solution for your brand
We have developed solutions for you if your Web 3.0 domain has already been taken and IP infringements
have been committed through it.
ICANN is not responsible for the oversight of Web 3.0 domains, and none of the DNS laws and regulations in place to protect brand owner’s rights are applicable in the Web 3.0 environment.
Which means that, at least for now, rights owners are on their own when it comes to protecting their IP assets.
Enforcement
We already have practice in removing infringing Web 3.0 domains from selling platforms like OpenSea or Rarible.
Once the domain is taken down, the owner can’t sell it but remains in possession of the domain, which makes it a bad asset for them and allows you to get a better price for it, should you decide to buy it.
Crypto tracing
Tracing crypto payments (just like tracing regular ones) enables us to learn more about the seller, e.g. their business size, usual activities, and in case we have a court order, even their real name and contact information.
We conduct crypto tracing via wallets, dedicated service providers and sometimes, if the owner publishes their wallet details online, even via social media, blogs or chat forums.
Contact us
We look forward to finding a suitable solution for your challenges together with you.