NFT market is riddled with scams and projects that offer no tangible values. How can we as an industry move forward by building projects that actually matter?  Answer: marketplace for handles. 🧵👇

In 2022, billions of dollars have been exchanged to buy & sell web domain names. There are even brokers that can help you reach out to domain owners and negotiate on your behalf. It's painstakingly easy to exchange domain names today.

This is where I think there’s an opportunity for social networks to come in and buidl. Each unused handle can be turned into a NFT. And for existing handle owners, they can opt in to mint a NFT. And in order to log into an account, twitter checks that your wallet contains the NFT tied to that account.

NFTs can be listed at company-run exchange or other existing NFT marketplaces today. For sure this may attract speculators who want to squat on the handle as long as possible to hike up the price but for businesses, having a short & recognizable handle is a huge value add.

Telegram is already doing this (https://cointelegraph.com/news/telegram-launches-marketplace-to-auction-rare-username-handles). Twitter should do this. Instagram should do it. @farcaster should do it as well.

You cannot, however, say the same about acquiring handles. You have to reach out to accounts that have the handle and these accounts don't accept DMs from total strangers. Forget about getting hold of them if they haven't logged into that account for years.