The world of Web3 just become more accessible for companies looking to participate in the decentralized web and metaverses. thanks to the launch of AltRoots, the industry’s first first Web3 trademark search engine.
Developed by Encirca founder and CEO Tom Barrett, AltRoots enables brand trademark owners to monitor potential trademark infringement and secure their own Web3 internet address on the blockchain for more effective participation in the decentralized web and metaverses.
EnCirca’s creation of trademark search engine AltRoots allows users to research more than 8 million blockchain domains. The engine enables trademark lawyers to discover registered blockchain domains that could indicate trademark infringement or cybersquatting.
Altroots is a timely addition to the Web3 world, as global brands and digital games are looking to establish both their private metaverses as well as protect their presence and trademark on the blockchain.
Web3 domains: Why Trademark Search is Needed
Web3 domain names are a type of non-fungible token (NFT) that operates in blockchains, metaverses, and the decentralized web. They are used for digital wallets, digital identities, website hosting, email, and metaverse storefronts.
While blockchain domains like.eth and.crypto have become popular, there are no regulations or safeguards to prevent trademarks infringements. Cybersquatting on brands or domains using name variations similar to those of trusted brand names can cause confusion and harm for consumers seeking to interact with the brands they know
.Web2 vs Web3 Domain Names
Web2 (the internet as we now experience it) has 1,500 Top-Level Domains (TLDs) regulated by the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization that was established in 1998 to help maintain the security of the Internet. Any time you register a domain on the Internet, you agree to legal terms dictated by ICANN policies as part of the domain registration process. ICANN policies and laws provide trademark owners with multiple methods for monitoring and shutting down trademark infringement.
However, ICANN’s policies do not extend to Web3 domain names.
Uncertain Environment Requires Proactivity
In the meantime, blockchain developers have introduced their own Web3 TLDs, including .eth and .crypto and millions more. Unlike Web2 domains, Web3 domains inherit the blockchain features of being anonymous and immutable. Companies need to secure a compatible Web3 domain name to participate in the decentralized web and metaverses. But since there are no ICANN policies or laws for protecting trademark rights on the blockchain or for publishing owner identities, companies face an uphill battle if their trademark is already taken on Web3.
Interested trademark owners and lawyers can sign-up for a free account now at https://www.altroots.com.