Buyers of the Handshake-based platform haven’t been identified.
Domain name registrar Namecheap has sold Namebase, a marketplace for buying and selling Handshake names.
The new owners haven’t been revealed, and the “About” page on Namebase.io still lists the same team as before the acquisition.
Namecheap acquired Namebase about four years ago, when Namecheap was actively promoting Handshake names, which are pitched as alt-root, web3-based domain names.
With Handshake, people can create top level domains and sell second-level domains under them. These can be used for web3 purposes, such as wallets. Technically, they can also be used for websites, but only if people use special web browsers or plugins.
Namecheap was acquired by a private equity company last year. It’s unclear if this move is related to the private equity transaction.
Handshake, along with other web3-only naming systems, has been on a downswing in recent years as usage and accessibility haven’t materialized as many backers hoped. Namecheap continues to sell Handshake names, but not as prominently as it once did.
On X, Namebase’s owners have stated that the system will shut down for a migration in February before reopening.
smells like a private equity move to a degree.
I wonder if Namecheap will stop supporting Handshake registrations, and abandon web3?
So what are we to do with the domains now?
80 million HNS is reported missing due to mismanagement by Namecheap. My funds have been held for over four months, and I have received no meaningful response from Namecheap despite multiple attempts to contact them.