The future of the domain industry lies in blockchainquote:1. No more long, complex and painful transactions
By removing the middleman (the escrow provider in our case) we can automate all domain, brand & IP transfer transactions from one party to another. Today, even for standard transactions you need a party in between of your transactions as a trust layer. This is inefficient, time-consuming and expensive.
By adopting blockchain to automate all processes required to facilitate transactions (escrow), Undeveloped is about to make (close to) instant transactions the new norm in the market. This paves the way for our vision to introduce BaaS. Brands as a Service, because we can finally use blockchain to make this scale without any limitations.
2. Flexible domain use
Want to use a domain for an hour, a day, a week or as long as your business exists? Today, this is not possible. It requires too many manual processes to make it a feasible and a standard de facto option. In real estate, this is already the norm.
Renting shop space in a high traffic area is the standard for shop owners. Why do you per se have to buy the perfect brand for your business for four, five, six or seven figures? Quality domains have become unreachable for starters. We can make them accessible & above all affordable again.
By introducing smart contracts, you can digitally sign flexible and instantly deployable deals with anyone around the world.
From a user perspective within a minute you’re all set in three simple steps:
Select the domain/brand you want
Choose your option to start using the domain on an hourly, daily, weekly, monthly or yearly basis at the set price
Pay and instantly get access to the domain and start developing it!
7. Fractional domain ownership
Domains are currently illiquid assets. We can change that. Anyone will be able to invest in premium domains and entire domain portfolio’s after we introduce fractional domain ownership. This can lead to the inception of the first stock exchange for domains. And that’s just the start. The core innovation here is that multiple parties can legally own or represent a domain, brand package or portfolio. This can even create the path forward for crowdsourced domain purchases (ask your friends and family to help you acquire the right name for example) and more.