Blockchain.com, the first and largest provider of bitcoin exchange and wallet, announced Friday that it will offer its millions of customers free NFT domains. The domain aims as a tool that allows them to use human-readable usernames like sample “merry.blockchain“, while the characters that make up the wallet address.
Unstoppable Domains company will hold a domain giveaway event titled blockchain. This company, as we know it today, was the place where domain name providers such as GoDaddy, Dynadot, Namesilo, Name and others were found on the internet.
Earlier this year, Blockchain.com said it had established a connection. That would allow its users to link a Blockchain.com wallet to an address they received from Unstoppable Domains.
Unstoppable Domains claims to have allocated more than 2 million NFT domains. Most of these domains end in “*.crypto”, “*.wallet” or “*.nft”. Blockchain.com rewards come with a new suffix called “Blockchain,” which the company is promoting as Web3’s first branded domain. But it seems most people would think domain.blockchain refers to the generic word “blockchain” rather than a London-based company.
“With Unstoppable Domains, users can get an NFT domain that gives them full ownership and control of their digital identity,” the company said in a statement. Games and Metaverse. “
Like other services provided by Unstoppable Domains, “.blockchain” domains are created on the Polygon network and recorded on the blockchain. They can also be bought, sold, and traded.
In an interview with Decrypt, Sandy Carter, senior vice president of Unstoppable Domains. Praised NFT domains as not only an easier way to provide addresses for crypto transactions. But also an important new tool for building digital identities. Domains are like usernames and passwords for sites like Facebook and Google, but one name can be safely used for multiple applications, Carter said. Unstoppable prints its NFT domain on the Polygon blockchain.
Carter said Unstoppable Domains is working with other companies to offer NFT domains under their names. If the idea works, it could lead to customers interacting with big companies via NFT domains like Apple.inc and the Starbucks franchise.
Web3 identity providers already give users access to wallet domains like .crypto, .x, .nft, .bitcoin, and .coin — making it easier for people to send and receive money.
As they noted in Friday’s announcement, Blockchain.com wallet users will get domain names like “kalina.blockchain,” which they will use in place of their current alphanumeric addresses.
NFT domains grant each user control and ownership of their digital identity while reducing the risk of erroneous transactions. The new domains also equipped with portable Web3 identifiers. Allowing users to easily access and use them across multiple ecosystems. Including over 200 apps, exchanges, wallets, and marketplaces.
“With .blockchain domains, our users can not only send and receive cryptocurrencies as easily as email, but also have their own identities on Web3,” Blockchain.com executive Lane Kasselman said in a statement. He added:
“Our partnership with Unstoppable Domains marks the first custom top-level domain (TLD). And gives us the unique opportunity to share the Blockchain name with the millions of users of the Blockchain.com wallet.”
Today Non-fungible Tokens (NFT) are becoming more popular. Raising the question of whether it is really worth spending tens of thousands. Or even millions of dollars on something that anyone can get for free on the internet.
The technology underlying NFT makes it such a product that users can sell and monetize. According to the results of a recent DEXterlab survey of 1,318 people review published on June 10, 64.3% said the main reason for buying NFT is “making money.“
According to research, the second most common reason people buy NFT is to join the community and stay flexible in the face of technological advances. That is the main reason why 14.7% of survey participants received their NFTs.
12.4% of respondents stated that they wanted to collect digital art. And 8.6% intended to buy NFT to access the latest games and in-game tools. This usually gives access to the artist’s work, perks, and everything else in the form of membership rights.
As the name suggests, non-exchangeable tokens are not tradable like cryptocurrencies. The unique quality and varying degrees of rarity of each item creates interest and demand. Therefore, these factors also affect the value of the item.
Therefore, if you know the value of a particular digital asset and buy it at the right time. You may see NFT as an investment that could pay off in the future. Although the main reason people buy NFT is to make money. 58.3% of respondents said their NFT has not been very profitable so far. But 41.7% of respondents said they could use their previously purchased NFT to their advantage.
Many people still don’t understand the value of non-exchangeable tokens and see no reason to invest in them. However, there is more demand. Global NFT transaction volume is expected grow by more than 200% to $50 billion by 2022.