The ApeCoin community selected D3 to lead the preparation and submission of the application after the proposal received a majority vote of 91.68%.

The ApeCoin community 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 global authority on IP addresses and domain names.

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Aligned with ICANN’s strategy to establish fresh generic top-level domains (gTLDs) by the second quarter of 2026, the decentralized autonomous organization (DAO) of ApeCoin suggested collaborating with D3, an authority on Web3 domains, to develop the.APE TLD as a tangible asset (RWA).

8.32% of the ApeCoin community cast a negative vote on the proposal, whereas a plurality of 91.68% supported it.

According to the proposal, D3 will lead the application’s preparation and submission, a process that should take about a year to finish.

Furthermore, D3 intends to provide users with Ape-linked name tokens, which serve as an instantaneous Web3 identifier.

Once launched, the.APE domains, according to ApeCoin DAO, “have the potential to generate annual revenue in the millions.”

The aggregate revenues generated by the Ape name tokens and the.APE TLDs will be divided 50/50 between ApeCoin DAO and D3 as part of the agreement.

The proposal specified that “owning” a TLD is not feasible. Conversely, “ICANN grants the exclusive rights to operate and monetize each TLD through a contractual agreement that renews automatically every ten years.”

As demonstrated previously, the initiative entails a total expenditure of three million ApeCoin APE. ApeCoin DAO will provide contributions towards D3’s ongoing technical and operational expenses associated with administering the.APE namespace, which will be used for mass co-marketing.

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GoDaddy and the Ethereum Name Service (ENS) formed a collaborative alliance in February 2024, enabling users to establish free links between Web3-based.eth domains and domain name system top-level domains.

The GoDaddy-ENS partnership now eliminates high gas charges, which previously hindered users from transferring domain names to ENS. The Web2 and Web3 ecosystems will benefit from “the fusion of domain names and blockchain technologies,” as described by Paul Nicks, president of domains at GoDaddy.

GoDaddy’s Web3 competitor Unstoppable Domains introduced payment methods and features to simplify the administration of ENS domains in July 2023, enabling users to purchase.eth names.

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