ApeCoin DAO gives a thumbs up to .APE top-level domains
Update March 4, 10:40 UTC: This article has been updated to include interview responses from D3 founder and CEO Fred Hsu.
The ApeCoin community has unanimously approved a proposal to register “.APE” as a new top-level domain (TLD) with the Internet Corporation for Assigned Names and Numbers (ICANN), the world's authority on IP addresses and domain names.
In line with ICANN's plan to implement new generic top-level domains (gTLDs) in the second quarter of 2026, ApeCoin Decentralized Autonomous Organization (DAO) proposes to work with Web3 domains specialist D3. APE TLD as Real World Asset (RWA)
The majority (91.68%) of ApeCoin community voters voted in favor of the proposal, while 8.32% voted against it.
D3 co-founder and CEO Fred Hsu told Cointelegraph that the DNS domains it offers and plans to register with ICANN are interoperable, meaning they can be used for Web1 (email/web), Web2 (apps/social). and Web3.
According to the proposal, D3 will lead the effort to prepare and submit the application, which is expected to take about a year to prepare.
In addition, D3 also plans to offer Monkey-related name tokens as instant Web3 credentials to users. Hsu's vision for D3 includes connecting more than 5 billion Web2 users to Web3 by domain. “Not much has changed in traditional domains in the last 20 years, so we aim to revolutionize both domain ownership and usage,” he added.
According to Hsu, once the .APE domains are operational, they will have the potential to generate several million dollars in annual revenue. “Domains serve as an important part of digital real estate and a recurring source of income,” he explained.
As part of the agreement, the total revenue generated from Ape name tokens and .APE TLDs will be split 50/50 between ApeCoin DAO and D3.
The proposal explained that “ownership” of the TLD is impossible. Instead, “ICANN contracts to exclusively operate and monetize each TLD, which automatically renews every 10 years.
As shown above, the total costs for the organization are three million ApeCoin (APE). D3 contributes the ongoing technical and operational costs associated with managing the .APE namespace from ApeCoin DAO to the crowd transaction.
Related: ENS data from Etherscan now shows up in Google search results
In the year In February 2024, domain registrars GoDaddy and the Ethereum Name Service (ENS) signed a partnership to allow users to link Web3-based .eth domains and domain name system top-level domains at no cost.
The GoDaddy-ENS partnership removes the hurdle of high gas fees that previously prevented users from bringing domain names to ENS. Paul Nix, president of Dora at GoDaddy, highlighted the development as “the integration of domain names and blockchain technologies”, which will benefit the Web2 and Web3 ecosystems.
In July 2023, GoDaddy's Web3 competitive non-stop domains will allow users to purchase .eth names with additional payment methods and functionality to streamline the management of ENS domains.
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