How do you choose your registrars and Why? | Namefi SOP1 with Victor & Sam

This is Namefi's First Founder Talk inspired by the podcast of Stack Overflow!

In a recent and exciting initiative, Victor Zhou, founder of Namefi, kicked off a new series of Twitter Spaces, Namefi Founder Space, to engage more closely with the community and discuss the future of domain registration. Joining him is Sam Yilmaz, a seasoned venture investor in the crypto space, a cofounder and general partner of Bloccelerate.vc. Sam was invited by Victor to join Namefi for a few days a week as its interim COO, a joint effort of Entrepreneur-in-Residence program between Namefi and Bloccelerate.vc. Inspired by the early days of Stack Overflow, where the founders recorded their journey and shared their thoughts on building a product, Victor decided to create a similar space for open discussions on domains, blockchain, and the evolving internet. This first session provided an opportunity to hear from industry professionals and domain enthusiasts, sparking conversations on the potential of tokenization and the role of traditional registrars.

As Victor explained:

"We started this Twitter Space to build a sense of community where we can learn from each other and share what we're working on. Just like the founders of Stack Overflow shared their journey, we want to share ours as we build Namefi."

With that spirit of openness and collaboration, the session brought together voices like Gary Palmer Jr., and Ishmilly to discuss key issues shaping the domain space.

Tokenization and the Future of Domain Names

One of the main topics of the conversation was the tokenization of domain names through blockchain technology. Tokenization refers to the process of converting domain names into digital assets on the blockchain, offering benefits like increased transparency, faster transactions, and secure ownership.

Victor shared how Namefi aims to empower users by providing them with sovereignty over their assets:

"We want to build Namefi so that you can be a sovereign person to own things. You can be a sovereign person to be trusted."

This focus on giving individuals control over their digital assets aligns with the broader trend toward blockchain-based systems in the domain space. Sam Yilmaz echoed this sentiment, particularly highlighting the liquidity potential of on-chain domains:

"I wanted my assets to be on-chain. I wanted to be able to market them and have easier access to liquidity."

Though tokenization is still in its early stages, the participants saw it as a promising development for the future of domain registration.

Traditional Registrars: GoDaddy's Role

The conversation also delved into the role of traditional domain registrars like GoDaddy. As one of the largest players in the industry, GoDaddy’s approach to blockchain and tokenization became a focal point.

Ishmilly, a long-time domain investor, explained his continued reliance on GoDaddy, primarily due to their strong customer support:

"The customer service experience has kept me with GoDaddy. I know who to call when there’s an issue, and I feel that they take care of their customers."

However, he expressed skepticism about GoDaddy’s willingness to fully adopt blockchain technology, suggesting that their current business model might not align with the low-cost, decentralized nature of tokenized domains:

"GoDaddy has no incentive to accelerate tokenization unless it boosts their profits. Tokenization reduces commissions, makes transfers quicker, and could disrupt their existing business model."

Gary Palmer Jr. offered a different view, noting GoDaddy’s recent collaboration with Ethereum Name Service (ENS) to implement gasless DNSSEC for certain domains as a sign that they are considering blockchain-based advancements:

"The CEO of GoDaddy reached out to ENS to integrate DNSSEC. This shows they are at least exploring blockchain technology and its potential applications."

Adoption Barriers and Challenges

While tokenization offers various benefits, several participants acknowledged the challenges of widespread adoption. Hedgehog.eth, a participant familiar with the ENS domain space, pointed out that while blockchain-based domains provide speed and security, they remain relatively niche for now:

"I love buying ENS domains on-chain. It’s fast, secure, and I can trust that it’s mine immediately. But most people are still using traditional domains, and the transition won’t happen overnight."

Participants also discussed the psychological hurdles associated with adopting new technology. As Ishmilly explained, users can be hesitant to shift away from familiar systems, even when newer technologies offer advantages:

"People are not going to abandon the current system for tokenization overnight. There’s a psychological barrier when it comes to adopting new technology, even when it offers clear benefits."

Perspectives on the Future of Domain Registration

Overall, the conversation highlighted both the potential and challenges of integrating blockchain technology into domain registration. While tokenization presents opportunities for faster transactions and improved ownership security, traditional registrars like GoDaddy continue to dominate the market.

Participants suggested that for blockchain-based systems to gain wider adoption, they will need to provide clear and compelling advantages over existing methods—whether through better user experiences, competitive pricing, or more robust customer support.

Murda.eth summed up the value of tokenization with an analogy:

"Tokenization is like upgrading from a rotary phone to a smartphone. It’s faster, more efficient, and gives you more control over your domain assets."

Conclusion

This first Namefi Founder Twitter Space provided valuable insights into the future of domain registration and the potential impact of blockchain technology. While tokenization is a promising development, the discussion highlighted the need for gradual transition, with both technological improvements and user adoption playing a role in shaping the industry’s future.

The session ended with a sense of anticipation for the next Twitter Space, where Victor and the team plan to dive deeper into the potential of domain names as the foundation for digital identity in the future internet.

For those interested in joining the conversation, keep an eye out for the next Namefi Twitter Space—an open forum where community members can share ideas, learn together, and shape the future of domain registration.

The full space recording can be found here: https://x.com/ZainanZhou/status/1835362510838607913

Introducing Namefi SOP

Namefi SOP (Standard Operating Procedure) is a weekly series hosted by Victor Zhou, founder and CEO of Namefi, alongside Sam Yilmaz, interim COO. In these sessions, they discuss the latest developments at Namefi, explore industry trends, and debate the future of Web 3.

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