According to Foresight News, Base has announced the upcoming launch of its domain service, Basenames. Users will be able to claim base.eth domains to establish their on-chain identities, connect with on-chain protocols, collaborate, and contribute on-chain. When Basenames is launched, all domains will be available through a Dutch auction, with prices decreasing over a 36-hour period.

Previously, Foresight News reported that Base plans to publicly release the Basenames identity solution product in the coming weeks. Currently, it is only available to participants of BaseCamp, and the product is supported by ENS.