smart mind

This strategy has been known for a while. Matt mentioned pivoting to DNS on a few interviews. The TLDs that pass the ICANN application will have web2+web3 capabilities.

1/ A lot of people are reacting emotionally to this, but as a domain investor with 2,000+ names, I see the logic. UD isn't "abandoning" Web3, they are maturing. To scale, you have to follow the money and the infrastructure. 🧵

DNS domains now compose 90%+ of our business, and as we move to get several of our TLDs also listed in ICANN over the next few years our focus will continue to grow on the DNS and traditional internet market. We expect that 2-3 years from now DNS and the traditional web will be 99%+ of our business. For this reason you'll see updates on our site to reflect our new focus on traditional web2 domains. This is intentional. Web3 only domains were part of the crypto craze in 2021 but did not cross the chasm into mainstream usage. And for a while now we have believed they will remain a niche market now and into the future. They were a great place to start our journey into domains, but going forward our focus will be even more on the traditional market as it's the market that has crossed the chasm and is seeing mainstream usage.