There is a new easily overlooked direction in the RWA track—Internet domain names. Many people habitually focus on traditional assets like real estate and bonds, but in fact, domain names themselves, when mapped as on-chain assets, have untapped potential.

Take Doma Protocol as an example. I initially thought it was a clone of ENS's "on-chain name service." But after a deeper understanding, I realized that the approach is completely different. ENS mainly addresses Web3 identity and addressing needs, while Doma is about digitizing and financializing real-world domain name assets.

The key difference is: ENS is designed natively on the chain, whereas Doma maps high-value off-chain assets—(domain names)—onto the chain. Domain names, as fundamental internet resources, are inherently scarce and have persistent demand. If this RWA mapping is well executed, it could have more potential than just identity services.

Details still need to be observed, but this approach indeed unlocks an overlooked RWA opportunity.