Welcome To The Summer of DomainFi
By Fred Hsu (CEO & Co-Founder, D3)
The past few months, I went from Prague to Vegas to Vietnam, meeting with ICANN veterans, DeFi founders, and domain registrars alike. At every stop, one thing became clear:
DomainFi Summer is here.
We’re finally seeing alignment between markets, technology, and regulation. What used to be a niche idea, tokenized domains, is quickly becoming a serious category.
The Shift I’m Seeing
The narrative has changed.
Tokenized domains are blockchain-based domains that users fully own and control. They can be traded, programmed, interoperable across Web3 and Web2, and even generate income.
Back in 2022, they were mostly experimental. A few ENS names made headlines, and some early alt-root naming projects popped up, but most of the Web2 world saw it as a novelty.
In 2023, they became an experiment.
In 2024 we gained serious momentum. Major Web2 registrars began actively exploring tokenization. ICANN veterans were in the room with Web3 founders. Domains were no longer just web addresses, they were starting to be viewed as programmable assets.
Now in 2025, they’re being treated as a foundational primitive.
That much was made pretty clear in this year’s conference circuit. Let’s take a look.
TOKEN2049 Dubai
At TOKEN2049 in Dubai, RWAs were everywhere.
However, most of the RWA talk was around T-bills, real estate, and fractional gold bars. That’s fine, but these asset classes come with real-world baggage: regulation, custody, paper trails.
Domains don’t. They’re already digital. Already owned. Already valued. That makes them the most ready-to-go RWA in the world.
This is what Doma and DomainFi is actively working on. Bringing domain on-chain. Unlocking programmability, liquidity, and interoperability in a trillion-dollar identity layer that’s been trapped in 1990s infrastructure.
And the world is starting to get it.
Hanoi is a Melting Pot
This year Hanoi hosted ICANN’s Connected Parties Summit and the APAC DNS Forum.
The forum brought together registrars, ICANN folks, and a good number of new builders. The energy was solid. Main topics discussed:
- New gTLDs: The next round is coming. Everyone’s gearing up. Big brands, niche players, and even a few surprises from Asia-based groups.
- Universal Acceptance: Still a work in progress, but there’s movement.
The Moment in Hanoi That Hit Me
I met Thanh Le from Viction the day I landed in Vietnam. One of our earliest customers, Viction is quietly building one of the strongest communities in Asia, with government support and over 4 million members backing a vision of sovereign digital infrastructure.
Two years ago, I told him we’d be back with something real. This time, we didn’t just “show up.“
We hosted the first in-country domain industry event in Vietnam. That hits different. Because it clearly showed everyone that what we were working on was no longer “theoretical.”
It was a signal. Local ecosystems are starting to take domains seriously, not just as web addresses, but as programmable assets, as wallets, as digital identity.
Vietnam isn’t alone. From India to LATAM, we’re seeing interest from emerging markets who aren’t waiting for ICANN or Silicon Valley. They want tools now. They want self-custody and DNS interoperability.
That’s what DomainFi is built for.
Highlights From DomainFi Blueprint: Hanoi Edition
Hanoi also happened to be the location of our 3rd DomainFi Blueprint of the year!
I kicked off the event with my presentation about the relevance of DomainFi. The core message was simple, domains are real assets, but the market infrastructure around them hasn’t kept up.
While Web3 is trading trillions in tokens, domain names are still stuck in slow, opaque, broker-driven systems. D3 is working with leading registrars to create the rails to modernize the industry and help it realize its trillion dollar potential.
We also hosted a registrar panel with Tom Barrett (EnCirca), Reg Levy (Tucows), and Yatin Shah (Connect Reseller), there was zero hesitation. Every registrar on that stage understood that the future of their business includes Web3.
The message was clear: if domains don’t work across both DNS and wallets, they’ll lose relevance. If registrars don’t offer programmable, tokenized identities, users will go elsewhere. Doma will be the coordination layer to make this real.
Bitcoin Vegas: Arthur Hayes and DomainFi
During Bitcoin 2025 in Las Vegas, I shared the stage with our investor Arthur Hayes, who needs no introduction.
His take? Domains are already tradable. Unlike other RWAs, they don’t depend on external price feeds or legal abstractions. They’re digital-native assets with real utility, ready to be brought fully on-chain.
Arthur isn’t an easy man to impress.
But he sees the actual value tokenizing domain can unlock.
What I Saw in Prague
At ICANN Prague, I sat down with folks from ENS, Dynadot, Hostinger, Name.com. I hosted old friends and new partners at the DomainFi Alchemist’s Lounge overlooking the city.
The vibe? Tokenization is happening with or without permission. DNS either evolves or gets left behind.
At Home in LA: Attending The Base Launch Event
When the opportunity to work with Base came up, it was a no-brainer. Composability and liquidity are exactly what domains needed to go full onchain.
Look ma, one big selfie family.
DomainFi in Downtown LA
On July 30, we opened up our D3 HQ in Downtown LA. During the fireside chat, I was joined by Todd Ryan (American Business Capital) and Byron Tang (Azuki / Anime.com). The discussion moved from the legacy of .coms to the future of expressive TLDs like .anime, connecting traditional domain investing with the cultural and financial layers of Web3.
Byron dropped insights on using TLDs as cultural platforms. Todd brought the Web2 heat with a reminder of just how real domain liquidity already is.
SBC’25 and Berkeley Blockchain
On August 5, just a few blocks from the Science of Blockchain 2025 conference, we hosted a packed night at the Berkeley Social Club. What started as a casual mixer ended up full of sharp conversations, with Cal students asking the right questions, founders trading ideas, and devs already brainstorming what to launch on Doma. You could feel real momentum in the room.
Back in Vietnam For GM Vietnam & Conviction
Finally, I was back in Vietnam for GM Vietnam and Conviction.
GM Vietnam
I spoke on the panel on “DeFi vs Reality” and shared how domain names are already widely understood, high-value assets, and how we’re bringing them fully on-chain through Doma Protocol.
I also shared my views on the user experience gap in crypto. How copy-pasting wallet addresses is still painful, and how domains can fix that.
Conviction 2025
Finally, I was honored to be a Keynote Speaker at Conviction 2025. During the talk, I introduced everyone to Doma and how we’re building the DomainFi economy with projects and builders around the world. It was a fitting finale to a summer that properly showcased how far along we have come.
My Final Thoughts
The future isn’t “DNS vs Web3.” It’s DNS on Web3.
That’s the mantra we work with here on Doma and D3.
This is the quiet infrastructure moment for domains. Like AWS in 2006. Like Ethereum in 2015. And like those revolutions, this one will look obvious in hindsight.
We’re past the point of “What if?” and well into “How fast?”
The DomainFi economy isn’t coming.
It’s already here.
If you’re a registrar, a builder, or even just domain-curious the doors are open.
Let’s build it. Start here.
Ciao for now 👋
-Fred
