Yats vs. Handshake
The handle I'm logged in with just sold for $60,000 as a sub-domain that redirects to a page of
y.at/
which may be integrated with ENS at some point in the future to add some Web3 compatibility.
It was the first ever emoji auctioned by Y.at (Yat), and I bought the Handshake equivalent on the Namebase market for 280 $HNS, currently about $176, the instant the first $10k+ USD bid rolled in.
πŸ”‘.y.at - AKA - y.at/πŸ”‘, the first single emoji Yat ever sold, went for $425,000.
πŸ”‘/
sold for 556 $HNS at auction on 02/25/20.
To bid in the destiny.y.at auction, you needed a prism key, which is basically a $200 ticket to enter the auction. There were 500 available & all sold leading up to the auction.
Prior to this point, you could only buy 3 emoji Yats or longer with a credit card. Several Crypto Twitter influencers posted about maxing out their cards doing this.
Not a single one of the 16 double emoji combos available at the Destiny auction sold for less than $30,000 and the Infinity Key, which is a wildcard of sorts that grants the owner the opportunity to select any other double emoji subdomain combo, sold for $288,888.
It's important to note these buyers are trusting that they actually "own" these emojis within the context of the Yat ecosystem, because they're 4 layers down the ownership stack on Web2.
4 - Buyers have access to emojis as subdomains/pages
3- Y. controls the emojis (Second-Level domain > pages)
2-
.at/
controls Y (Top-level domain > Second-level domain)
1- ICANN controls
.at/
(Centralized root zone > Top-level domain)
Right now, you own a Yat in the same way you own a Twitter profile, and the best hope Yats have for decentralization is a 4-of-7 multi-sig on ENS, or a similar type of contract on Ethereum or another chain.
Maybe the registry of
.at/
will claim their top-level domain & mirror y.at on Handshake; that could be interesting.
Still, for trying to be a decentralized identity solution, Yats feel like a centralized, pre-mined, walled garden that's more similar to a Bitclout than a DID.
For contrast, owning a Handshake name such as πŸ“ˆπŸ“ˆ is owning the private keys to the punycode that browsers & devices use to render your emoji. It's the maximum level of decentralized, censorship resistant ownership possible for emojis or any other domain for that matter.
Handshake is an implementation of Bitcoin optimized for DNS (Domain Name System), meaning it's a proof of work, public protocol where top-level domains like .com & .at (which are reserved for their owners along with 30k $HNS) are registered directly with the protocol, since the network itself is a p2p root zone.
Emojis & other names became available for bidding each week and were spread out over the course of a year, beginning in February 2020, to ensure equitable distribution. Each auction lasts 5 days, giving everyone a fair chance to bid.
Despite being nearly a year & 2 months since launch, I was able to recreate ~90% of the Yat Destiny auction on Namebase for about $1.
It ends almost exactly 24 hours after the start of the Destiny Auction. The highest bidder wins & pays the second highest bidder's amount.
The winning bids on these emojis will be burned by the protocol, not pocketed by a corporation. After the 10 day bid reveal period, you can withdraw the emojis from Namebase to a wallet like BobWallet.io (assuming you didn't start with Bob), own the keys, and securely store your new assets. You can also use your new name with Akash ($AKT), Sia ($SC), Fleek (
fleekhq/
), IPFS ($FIL), & numerous others for decentralized compute, storage, and other solutions.
Again, what you own with an $HNS emoji is on-chain Punycode as a top-level domain. So, with πŸ“ˆπŸ“ˆ, I bought
.xn--ht8ha/
which functions like a .com & DID rolled into one.
This enables me to securely log in here, create an email at hmail.app, sell second-level domains like
hns.πŸ“ˆπŸ“ˆ/
at Gateway.io, or even use πŸ“ˆπŸ“ˆ as a dLink & set up a LinkTree like profile with all my links on it.
Basically what Yats are doing and more, directly on-chain, and without all the intermediaries.
Badass.Domains recently demonstrated Ethereum interoperability with Handshake, and so using these as wallet addresses and interchain identities seems more probable than not in the mid-term, especially with the highly skilled & engaged community around Handshake. Progress is also being made around browsers natively resolving HNS names & HDNS.io is an incredibly easy-to-use resolver in the meantime.
While the similarity of narratives between Yats & Handshake will undoubtedly be a fascinating case study for various reasons, I feel a great deal of empathy for everyone involved with Yats because it's apparent no one knew Handshake existed.
In terms of decentralized infrastructure, name distribution, and cryptographic ownership of emojis at the most fundamental level, it will be incredibly difficult to compete with Handshake.
Centralized options of course will initially enjoy a rich ecosystem & be easier to use than decentralized options in the same way that fiat is easier to use & is accepted more places than crypto, but I know which I would rather own long term.
If this is the first you're hearing of Handshake, welcome!
You can learn more at learn.namebase.io, learnhns.com, skyinclude.com, check out videos from our recent conference at handycon.org, & of course visit the original site at handshake.org
See you at the auctions!
Comments
13
πŸ“ˆπŸ“ˆ/
1 points
β€’
Looks like my referencing of Twitter handles & domains with / changed the formatting a bit, but I trust you can figure it out πŸ˜„
β‚ΏπŸ‘‘/
1 points
β€’
Great insights! , at a level its hard to convince people who believe in y.at emoji as some valuable asset to tell them handshake emoji is better version of y.at emoji on almost all frontiers especially when they are heavily invested in them. What we as handshake directors can do is spread the word of handshake as much as possible as far as possible as fast as possible, so people can have a border perspective before making a choice.
πŸ™ŒπŸΌπŸ™ŒπŸΌ/
1 points
β€’
I wonder what our one and two emoji TLDs with be worth in 1-2 years.
banksy/
1 points
β€’
wonder how nb interops with AR πŸ₯½ βž• GPT πŸ¦ΎπŸ’‹ βž• speech rec πŸŽ™β“
tieshun.namebase/
1 points
β€’
This is a great breakdown of Handshake vs yat emoji names. I think Handshake emoji names are superior as well (no surprise there) but we can all learn something from yat's great messaging. They've done a great job explaining names in a way that anyone can understand and see value in. I think the key is that they introduce the concept of owning your name along with a slew of use cases you can use with your name. When I talk about Handshake I usually talk about how the names are TLDs, then I introduce all the things you can do with them after. Domains and TLDs are esoteric so most people are already lost at this point. Here's a better way to describe Handshake:
"Handshake names are your universal name or identity on the decentralized internet. They are NFTs that you can use for websites, usernames, and more. If you own a good top-level name like defi, you can even sell second-level names like ilove.defi and earn revenue."
tieshun.namebase/
1 points
β€’
marksmith/
skyinclude/
johnny.namebase/
I'm curious if you've ever tried describing Handshake like this
johnny.namebase/
2 points
β€’
I've always focused on Handshake names TLDs anyone can own until recently after we started logging in as .namebase names.
I've since been playing around with messaging where Handshake allows you to actually own your identity on the Internet in contrast to having a Twitter-controlled handle, Google-controlled email address, or .com-controlled domain name.
I'm really liking how you've tied in like everything relevant into these 3 sentences though, fro NFT and defi to the usernames, domains, and selling subdomains. Will try incorporating this in how I talk about Handshake moving forward
skyinclude/
1 points
β€’
true - the identity, seems to be a selling point for sure.
also putting this together with some others in the community to help show more awareness of Handshake and emoji domains -
tieshun.namebase/
0 points
β€’
jake.namebase/
can you tweet this out as well? Great initiative
skyinclude/
jake.namebase/
0 points
β€’
I really like what they've been able to do around creating ways owners can show off the names they've gotten. Obviously emojis are a bit more visually appealing than raw text, but we have emojis as well. If we do make a shift toward framing Handshake domains as public identifiers, owners will need easy ways to show off their collections/name.
robkay/
1 points
β€’
This is an awesome write up, thanks. Clearly Handshake needs more promotion if these inferior centralised alternatives are selling for so much! Need a simpler version of this to promote for the masses as there's a lot of technical info in here most folks won't get.
uwu/
0 points
β€’
Good writeup.
One idea I now have is: if people think <some-emoji>.y.at is cool, what if someone bought a very short domain like `h.at` and made that a gateway similar to HNS.to + y.at?