In a sign of the growing importance of intellectual property in the emerging Web3 economy, startup Unstoppable Domains announced on Wednesday that it would not enforce a key patent against other members of an industry group called the Web3 Domain Alliance.
The alliance consists of dozens of firms that offer a naming service that makes it easier to use Web3 by converting the long string of alphanumeric characters the make up a wallet address to an easy-to-remember handle such as jeffjohnroberts.eth or jeffjohnroberts.crypto. Many in crypto view these names not just as a convenient tool but as a form of digital identity.
