Yield App recently partnered with Unstoppable Domains (UD), the leading provider of NFT domains, to drive the adoption of Web3 technology. To celebrate our partnership, we spoke with Sajjad Rehman, Head of Europe at Unstoppable Domains, about the history of the company, its mission, and his vision for the future of the Web3 ecosystem.

WATCH the video version of this Q&A here.

DON’T FORGET to claim your free, fully customizable Web3 domain before 13 July 2022. You’ll find all details in our dedicated partnership announcement. 

What is your role at Unstoppable Domains and when did you join?

I am designated as the Head of Europe at UD and my work focuses on the local market and partnerships in the region. I joined the company about four months ago from Twitch where I was the VP of business development for Europe, Middle East and Africa. 

When was Unstoppable Domains launched and what was the reason for the launch?

The company was launched and founded in 2018. Our founders were inspired by the domain naming system and used this inspiration to create registries that do not reside on centralized servers. 

Over time, this inspiration evolved into user-owned digital identities that are not controlled by a few platforms, as is the case today in Web2. Our founders believed that these domains can become the naming system for the new Internet and enable a new generation of creators and builders. 

READ: How is crypto setting the stage for Web 3.0?

What is your main mission as a company?

In short, our mission is to return power to the people. This entails enabling users to own and control their identities through NFT domain names. 

We've been very fortunate to have been backed by some of the very best investors in Web3 from the very beginning, and since our inception in 2018, we've grown exponentially. Today, we are the largest NFT domain and digital identity service provider with over 2.4 million registered domains. We have integrations with more than 300 of the leading decentralized apps (dApps) and exchanges, including Yield App. 

What would you say was Unstoppable Domains’ biggest achievement in the time since launch?

I can name a few! Being the largest NFT domain provider with the most registered domains is one, of course. Also, the launch of our single sign-on login product, as well as some truly innovative partnerships, like the one with Yield App most recently. 

READ: Q&A with top women in crypto: Maja Vujinovic, founder and CEO of OGroup

But the biggest achievement for us has been the user and partner community that we’ve created. They are a voice and an amplifier for us, in shouting about why user-controlled and -owned identities matter and how they can help users of the Internet of the future to simplify their crypto lives and help them to own their data. This vibrant community is our most powerful asset.

What are your current products and use cases?

Today, there are probably two use cases that stand out. The first is simplifying crypto payments. 

Juggling different wallet addresses is though, right? It can lead to errors, confusion, and losses. For services like exchanges and dApps, it can create a lot of customer queries, which is expensive. NFT domains solve that. 

As of today, you can link hundreds of different cryptocurrencies to a wallet address in your domain management once you have minted your NFT domain. From there onwards, an NFT domain name can become your universal wallet address. It simplifies your crypto life and makes it more accessible. I think that’s one of the key cornerstones for driving the adoption of crypto and Web3 in the future. 

The second key use case is login. Onboarding to Web3 is hard, both from a user's perspective and from a dApp or service perspective. In Web2, when users opt in to a service, they are unable to utilize the data for themselves outside that application. We want to make sure that this is not the case going forward in Web3. So our login product allows users to provide permission for the data they chose while utilizing Wallet Connect in one seamless flow. 

This also helps the service they are onboarding into. The service is able to use Wallet Connect to onboard the user, secure permission data, and even verify humanity. In the future, users will be able to log into the entire Web3 ecosystem with one single username. 

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What use cases do you expect to see in the future?

Over time, another use case that will take prominence is linking data back to NFT domain names. As users start to onboard to decentralized applications with their NFT domain names, they will be able to link back data they create on these services. This data can then be useful for them outside of these services, to get benefits from other decentralized applications, wallets, and exchanges. 

There are many more use cases related to Web3-gaming, DeFi, and many more. If you are able to provide verifiable data about your identity that you own, that can be very powerful going forward.

How do you envisage the future of Web3 in five years' time?

We believe that every crypto user will have an NFT domain name and every internet user will become a crypto user in the future. 

Every internet user will connect services to an NFT domain name that they own. They will not only control the data they give out to those services but also link back verifiable data that they create, which could prove to be valuable for them in other applications. It’s going to be a really powerful tool for creators to make the most of what they create on the internet.

I see NFT domain names and other naming system services becoming the connecting thread of an open metaverse. Users will be able to use that identity to go from dApp to dApp, to get personalized services, rewards, and benefits from these services in an open, decentralized internet. That’s the future I am really looking forward to and I think it’s a powerful one. 

READ: How to keep your digital assets secure

As part of our partnership with Unstoppable Domains, Yield App Silver Tier members and above are eligible to claim a $40 UD voucher. Diamond Tier customers are eligible for an additional voucher worth $100. If you haven’t received an email with your personalized code, please get in touch with our support team via [email protected].

Do you want to earn market-leading interest rates on your digital assets? Sign up for a Yield App account today!

DISCLAIMER: The content of this article does not constitute financial advice and is for informational purposes only. The price of digital assets can go down as well as up, and you may lose all of your capital. Investors should consult a professional advisor before making any investment decisions.