>>Hello, and welcome to this cubes presentation with unstoppable domains. It's a showcase we're featuring all the best content in web three. And with unstabled a showcase I'm John furrier, your host of the cube. We've got a great guest here, Matt Miscavige. Covich who's the chief revenue officer of unstoppable domains. Matt, welcome to the showcase. Appreciate it. >>Thank you for having me. So >>The theme of this segment is the potential of the web three marketplace with unstoppable domains, the chief revenue officer, you guys have a very intriguing, interesting concept. That's going extremely well. Congratulations, but you're using NFTs for access and domains. Of course, the, the metaverse is huge. People want their own domains, but it's not just like real estate in the sense of a website. It's bigger than that. It's a lot going on. So take us through what is the value proposition and what is the product? >>Absolutely. So for the past 20 years, most of us have been interacting on the internet. Using usernames issued to us by big corporations like Facebook, Google, Twitter, tech talks, Snapchat, et cetera. Whenever we get these usernames for free it's because we in our data are the product as some of the recent leaks. And the media has shown incentives. Individuals and companies are not always aligned. And most importantly, individuals are not in control of their own digital identity and the data, which means they can economically benefit from the value they create online. Think of Twitter as a two-sided marketplace with 0% revenue share back to its creators. We're now having in the creator economy and we believe that individuals should see the economic rewards of what they do in create online. That's all we're trying to do here at unstoppable domains is provide user own take control identity to four and a half billion internet users. >>It's interesting to see change that's happening with web three. And just in cultural terms, users are expecting to be part of the creative, the personality of the company. There's this almost this disintermediation of the middleman. You know, whether it's an ad network or a gatekeeper of any kind people going direct, right? So if I'm an artist, I can go direct to my fans. >>Exactly. So web through really shifts the power away from aggregators, aggregators and marketplaces have been some of the best business models. The last 20 years onto the internet, the web three is going to dramatically change that over the next decade, paying more power back in the hands of consumers. >>What type of companies do you guys work with and partner with that we see out there, what's give us some examples of the kinds of companies you're doing business with and partnering with. >>Yeah. So let's talk about use cases. First actually is the big use case that we identified initially for NFT domain names was around cryptocurrency transfers. Anyone who's ever bought cryptocurrency and tried to transfer it between the council while it's is familiar with these awkwardly long hexadecimal strings of random numbers and letters, where if you make a single type of money is lost forever. That's a pretty scary experience that exists today in our $2 trillion asset class with 250 million users. So the first set of partners that we worked on integrating with who actually cook the wilds and exchanges. So we will allow users to do is replace all their long hexadecimal wallet addresses with a single human readable name, like John dot NFT or Maxim needs give each dot crypto to allow for simple crypto transfers. >>And how did the exchange work with you guys on that as it is? Is it a plugin? Is it co-locating code together? What's the, what's the, what's the relationship between exchanges and unstoppable domains? >>Yeah, absolutely. A great question. So exchange has actually have to do a little bit of an engineering lift to work with us, and they can do that by either using our resolution libraries or using one of our API APIs or in order to look up an unstoppable name and figure out all the wallet addresses that's associated with that name. So today we work with dozens of the world's top exchanges and wallets ranging from Oko DX to Coinbase wallet, to trust wallet, to bread wallet, and many, many others. >>I got to ask you on the wallet side, is that a requirement in terms of having specific code and are there wallets that you work well with? Explain the wallet dynamic between unstoppable domains and wallets. >>Yeah. So while it's all have this huge usability problem for their users, because every single cryptocurrency held by every single one of their users has a different hexadecimal wallet address. And once again, every user is subject to the same human fallacies and errors, where they make a single type where their money can be lost forever. So we enable these wallets to do is to make crypto transfer as simple and as less scary than the current status code by giving the users on a sub well name that they can use to attach to all the waltz addresses on the backend. So companies like trust world, for example, which has 10 million users or Coinbase wallet. When you go to the crypto transfer fields, they can just type in an unstoppable name. They'll correctly, route the currency to the right person, to the right world, without any chance for human error. >>You know, when these big waves come, I gotta ask you this question. Cause a lot of people in the mainstream are getting into it. Now reminds me of the web wave that hit the big thing was how many people are coming online. It was one of the key metrics and how many web pages are being developed was another metric, which meant that people were building out web pages. And it's hard to look back and think, wow, that was actually a KPI. So internet users and webpages were the two proxies cause then search and just came out and everything else happened. So I'm going to ask you, there are people watching, they're seeing that on commercials on TV, they're seeing it everywhere stadiums are named after crypto companies. So the bottom line is people want to know how NFT domains take the fear out of working with crypto and sending crypto. >>Yeah, absolutely. So imagine if we had to navigate the web using IP addresses rather than typing in google.com, you'd have to type in a random string of words and numbers that you'd have to memorize. That would be super painful for users. And didn't, it wouldn't have gotten to where it is today with this, you know, almost 5 billion people online, the history of computer networks. We have human readable naming systems built on top. In every single instance. It's almost crazy that we got to a $2 trillion asset class with 250 million users worldwide 13 years after this, the Toshi white paper without a human readable naming system, other than supple domains and a few of our competitors, that's a fundamental problem that we need to solve in order to go from 250 million crypto users in 2022 to 5 billion crypto users, a decade from now. >>And just to point out and not to look back and maybe make a correlation, but I will, if you look at the naming system of DNS, what it did to IP addresses, that's one major innovation that enabled the web. Then you look at what keyword navigation has done on top of DNS, what that did for the industry. And that basically birthed Googled keywords, basically ads. So that's trillions and trillions of dollars again. Now shifting to you guys, is that how you see it? Obviously it's decentralized, so what's different. Okay. I get, so if you compare, Hey, Google was successful, you know, keyword advertising industry for less than 25 years or 20 years. >>Yeah. Yeah. What's different. Now is the technology inflection points. So blockchains have evolved to a point where they enable high throughput, high transaction volume and true decentralized ownership. The NFT standard, which is only a couple of years old know, has taken off massively around trading of profile pictures like crypto punks and the boy apes yacht club where they use cases extended much more than just, you know, a cool JPEG that goes up in value two or three X year over year. There is the true use case here around ownership of identity ownership over a data set, decentralized log-in authentication and permission data sharing. One of the sad things that happened in Jeanette on the internalized decade really was that the platforms built out have now allowed developers to built on top of them and a trustless permissionless way. Developers who build applications on top of some of the early monopolies in the last decade, got the rules changed on them. APIs, cutoff, new fees instituted. That's not going to happen in web three because all permissionless custody in a user's own wallet, we cannot take the way they will continue to exist in eternity, regardless of what happens to unstoppable domains, which gives developers a lot more confidence in building new products for the web three identity standard that we're building out. >>You guys amazing is that's a whole nother generational shift. I'm always been a big fan of abstractions when innovation is needed, when they're problems that need to be solved, messes to be cleaned up. Good abstraction layer on top of new architecture is really, really phenomenal. I guess the key question for I have for you is, you know, the queue, we have all this video where where's our NFT should, how should we implement NFTs? >>There's a couple of different ways you could think about it. You could do proof of attendance, protocol NFTs, which are really interesting way for users to show that they were at particular events. So just in the same way that people collect, t-shirts some conferences, people will be collecting. And if Ts to show, there were in person attending in person cultural moments, whether they were acquired an event online or offline, you could do NFTs for employees to show that they were at your company during certain periods of the company's growth. So think of replacing the resume with a cryptographically secure resume like this on the blockchain and perpetuity. Now more than half of all the resumes contain lies, which is a pretty gnarly problem as a hiring manager, or you constantly have to sort through as ways that this can impact that side of the market as well. >>I saw some, and I think it was a use case for everything. Appreciate that. And of course we can have the most favorite, cute moments. It could be a cube host NFT at 40 apes out there. Why not have a board cube host going on and, and >>Auction for charity on open? >>All right, great stuff. Now let's get into some of the cool tech nerd stuff, which is really the login piece, which I think is fascinating. The having NFTs be a login mechanism is another great innovation. Okay. So this is cool. Cause it's like think of it as one click and FTS, if you will. What's the response been on this? Log-in with unstoppable for that product? What some of the use gates is. Can you give some examples of the momentum and traction? >>Yeah, absolutely. So we launched the product less than 90 days ago. We already have 90 committed or integrated partners live today with a login product. And this replaces login with Google login with Facebook, with a way that's user owned and user controlled. And over time, people will be capturing additional information back to their NFP domain names, such as their reputation, their history, things they've done online and be able to permission to share that with applications that they interact with in order to get any rewards, once you own all your data and you can choose to share it with companies or incentivize you to share data. For example, imagine you just bought a new house and you have 3000 square feet to furnish. You could tell that fact and prove it to a company like Wayfair. Would they be incentivized to give you discounts? We're spending 10, 20, $30,000 and you'll do all of your purchasing there rather than spread across other e-commerce retailers. For sure they would. But right now, when you go to that website, you're just another random email address. They have no idea who you are, what you've done, what your credit score is, whether you house buyer or not. But if you could permission to share that to using a log-in open software product, I mean the web would just be much, much different. >>And I think one of the things too, as these, I call them analog old school companies, old guard companies is referred to in the cube talk here, but we were still always called that old guard is the people who aren't innovating. You could think about companies having more community too, because if you have more sharing and you have this marketplace concept and you have these new dynamics of how people are working together, sharing will provide more transparency, but yet security on identity. Therefore things are going to be happening organically. That's a community dynamic. What's your view on that? And what's your reaction >>Communities are such an important part of web three and the cryptos ecosystem in general, people are very tightly knit and they all support each other. There's a huge amount of collaboration in this space because we're all trying to onboard the next billion users into the ecosystem. And we know we have some fundamental challenges and problems to solve, whether it's complex wallet addresses, whether it's the lack of portable data sharing, whether it's just simple education, right? I'm sure, you know, tens of millions of people got into crypto for the first time during the super bowl face on some of those awesome ads that ran. >>Yeah. Love the QR code. That's a direct response. I remember when the QR code has been around for a long time. I remember in the nineties, late nineties, it was a thing, a device at red QR codes that did navigation to a webpage. So I mean, QR codes are super cool, great way to get, and we all using it to, with the pandemic to ordering food. So I think QR codes are here to stay. In fact, we should have a QR code on all of our images here on the screen too. So we'll work on that, but I gotta ask you on the project side, now let's get into the devs and kind of the applications, the users that are adopting unstoppable and this new way of doing things, why are they gravitating towards this login concepts? Can you give some examples and put, give some color commentary to why are these D application distribute application guys and gals programming and with you guys? >>Yeah. They all believe that the potential for why we're trying to create a round user own the controlled identity. We're the only company in the market right now with a product that's live and working today. There's been a lot of promises made and we're the first ones to actually deliver to companies like cook finance, for example, are seeing the benefit of being able to have their users go through a simple process to check in and authenticate into the application, using your NFT domain name, rather than having to create an email address and password combination as a login, which inevitably leads to problems such as lost passwords, password resets, all those fun things that we used to deal with on a daily basis. >>Okay. So now I got to ask you the kind of partnerships you guys are looking at doing. I can only imagine the old, old school days you had a registry and you had registrars, you had a sales mechanism. I noticed you guys are selling NFT kind of like domain names on your website. Is that a kind of a current situation? Is that going to be ongoing? How do you envision your business model evolving and what kind of partnerships do you see coming along? >>Yeah, absolutely. So we're working with a lot of different companies from browsers that took changes to wallets, to individual NFT projects, to more recently even exploring partnership, partnership opportunities with fashion brands. For example, the Tyree market is moving so so fast. And what we're trying to essentially do here is create the standard naming system for web three. So a big part of that for us, we'll be working with partners like blockchain.com and with circle who's behind the DC coin on creating registries, such as dot blockchain and dot coin and making those available to tens of millions and ultimately hundreds of millions and billions of users worldwide. We want an ensemble domain name to be the first asset that every user in crypto gets, even before they buy their Bitcoin Ethereum or dovish coin. >>It makes a lot of sense obstruct the way the long hexadecimal string. We all know that we all write down putting a safe, hopefully you don't forget about it. You know, I always say, make sure you tell someone where your addresses. So in case something happens, you don't lose all that crypto. All good stuff. I got to ask the question around the ecosystem. Okay, can you share your view and vision of either your purse, yourself or the company when you have this kind of new market, you have all kinds of, and we meant the web was a good example, right? Web pages, you need web development tools. You had HTML by hand. Then you had all these tools. So you had tools and platforms and things kind of came well, grew together. How was the web three stakeholder ecosystem space evolving? What's what are some of the white spaces? What are some of the clearly defined areas that are developing? >>Yeah, I mean, we've seen an explosion in new smart contract blockchains and the past couple of years actually going live, which is really interesting because they support a huge number of different use cases, different trade-offs on each. We recently partnered and moved over a primary infrastructure to polygon, which is a leading EVM compatible smart chain, which allows us to provide free gas fees to users for maintaining and managing their domain name. So we're trying to move all obstacles around user adoption. Here. We all need to have Ethereum in your wallet. You know, it'd be an unstoppable domains customer or user. You don't have to worry about paying transaction fees. Every time you want to update the wallet, addresses associated with your domain name. We want to make this really big and accessible for everybody. And that means driving down costs as much as possible. Yeah, >>It's a whole nother wave. It's a wave that's built on the shoulders of others. It's a shift and infrastructure, new capabilities, new new applications. I think it's a, it's a great thing. You guys doing the naming system makes a lot of sense. This abstraction layer creates that ease of use. It simplifies things makes things easier. I mean, this is, was the promise of, of these abstraction layers. Final question. If I want to get involved, say we want to do a cube NFT with unstoppable. How do we work with you? How do we engage? Can you give a quick plug on what companies can do to engage with you guys on a business level? >>Yeah, absolutely. So we're looking to partner with wallets, exchanges, browsers, and companies who are in the crypto space already and realize they have a huge problem around usability with crypto transfers and wild addresses. Additionally, we're looking to partner with decentralized applications as well as web to companies who perhaps want to offer log-in with unstoppable domain functionality. In addition to, or in replacement of the login with Google and log-in with Facebook buttons that we all know and love. And we're looking to work with fashion brands and companies in the sports sector who perhaps want to claim their unstoppable names, free of charge from us. I might add in order to use that on Twitter or other marketing materials that they may have out there in the world to signal that they're not only forward looking, but that they're supportive of this huge wave that we're all riding at the most. >>May I great insight, chief revenue officer ensemble domains. Thanks for coming on the showcase, the cube and unstoppable domain share in the insights. Thanks for coming on. Okay. This cubes coverage here with the unstoppable domain showcase. I'm John furrier, your host. Thanks for watching.