4 Reasons Businesses Should Utilize ENS
There's no one way for businesses to encourage consumer engagement. And as the internet evolves, engagement strategies evolve with it. One strategy currently on the radar is utilizing ENS (Ethereum Name Service) names. Both web3 and web2 companies are quickly discovering new benefits to incorporating branded ENS subdomains into their services and products. Regardless of your business's sector, issuing subdomains to your brand's community could provide new opportunities for increased brand visibility, trust, and revenue.
There's no shortage of blockchain name services to choose from, but none are as recognizable as ENS. It doesn’t take long to spot a .eth name in the wild, since people often sport ENS names as their usernames on sites like Twitter and Discord. In addition to being well known, ENS has been integrated with more dapps (decentralized apps) than any other naming service.
By choosing ENS as your company’s domain name service, you’re choosing the trusted standard in web3. NameStone exclusively manages ENS subdomains for this reason.
Which companies can utilize ENS subdomains?
Perhaps you’re wondering how ENS subdomains (also known as subnames) can benefit your specific business. NameStone has worked with a wide range of brands, from those who call web3 home to web2 companies targeting a new demographic. We’ve spoken to clients in a range of sectors, including but not limited to:
Gaming: Giving players a temporary identity with a limited-time subscription to collect and interact with the blockchain.
NFT Projects: NFT Projects: Foster community identity, reward loyalty, and increase brand recognition, like tim.projectname.eth. Community members become free advertising.
Protocols: Draw awareness to the protocol by giving the community usernames (free social advertising) and a place to strengthen social connections in the community page.
Wallets/Any Brand: Communicate with users through the list of subdomains given away and provide valuable usernames. Not to mention free social advertising.
Conferences: Temporary names for a wallet to keep your main account private. People can form connections with their name and prove their attendance. Brands can then follow up afterward through the names.
Charities: Create shared wallets to easily fund causes like marchofdimes.charity.eth. Influencers can direct funds to charities without intermediaries.
Chat Apps: Branded username and profile—Coinbase and nftychat have issued subdomains for customers to use as usernames.
and more! Subdomains are a developing avenue for brands. Reach out to NameStone to explore how issuing subdomains can benefit your company.
While use cases differ from business to business, some benefits to issuing ENS subnames seem to be universal:
Businesses issuing ENS subdomains can generate revenue. It is up to the business to decide what requirements customers must meet in order to claim a name. PoolTogether, for example, rewards its users with subnames once they deposit 1K USDC into their account.
When the company’s name is the domain (e.g., sally.brandname.eth), issuing subnames can increase brand awareness. As people make payments with peers, show off their name on sites like Twitter, and share their name with others, your brand’s name could get exposure to new audiences.
There are different types of subdomains—traditional and gasless. Traditional subdomains would require your business to pay gas fees every time a subdomain is created or edited. If you plan to issue hundreds or even millions of names, the perpetual cost of managing them becomes very expensive, very quickly.
This isn’t an issue with gasless subdomains. Not only does your company not pay any gas fees to issue and edit names, your consumers don’t pay gas either! Those who claim a gasless subname can change and edit their text record as often as they wish, no gas fees required. With NameStone, any brand can issue gasless subdomains to their community.
Increased Trust and Authority
No company in web3 is immune to scams or fraud. In fact, a common scam tactic in web3 involves impersonating trusted figures within a business. One way to combat this is by issuing names to your team. Since no two ENS names are identical, your team's branded subnames could reassure users about the authenticity of the individual they're interacting with.