What is an NFT Domain?
NFT Domains are domains that live on a public blockchain and give users complete ownership of their stored data. The main benefits of owning one are simplifying crypto transactions, replacing virtual wallet addresses with the domain name, and easily creating and hosting web sites3.
Typically, you interact with a traditional domain when you type an address (eg facebook.com) into your browser. But did you know that traditional domains were originally created to do much more on the internet? Think about features like email and payments.
Hard to believe, right?
But, as we can see, traditional domains haven’t progressed much beyond displaying websites. This is because traditional domains have been controlled by centralized servers since the internet was created.
This made it much more difficult for developers to innovate on top of this technology. Fortunately for us, the technology that powers NFT domains (aka blockchains) opens up a whole new field of possibilities for us on the web!
By the way… What is an NFT?
NFT (non-fungible token): a digital certificate of authenticity used to assign and verify ownership of a unique digital or physical asset. Unlike fungible tokens, NFTs are not interchangeable with one another.
Okay, so how does blockchain technology make these NFT domains so special?
Great question! NFT domains are essentially a set of smart contracts, which is a fancy term to describe software written on a public blockchain. This means that instead of a company controlling your data online, the power is transferred back to you as a user. And because it’s built on blockchains, anyone can see the data stored there, creating a maximum level of openness and transparency.
Plus, there’s the benefit of enhanced security – only you have the power to make updates to your NFT Domain, which minimizes worries about hacking servers or stealing domains.
All this to say, blockchain’s superpowers give everyone a safer way to browse the internet, while giving back control over what is shared and where it is shared.
Great, I’m starting to understand the power of blockchain, but I’m still not 100% sure what I can DO with an NFT Domain?
We were about to get to this! To quickly summarize, here are your domain’s superpowers (with more exciting new features on the way):
1- Simplify crypto transactions by replacing all your complicated wallet addresses with your domain name as your username.
2- Use your domain to receive 275+ coins and tokens on various blockchain networks.
3- Log into your apps with your domain name as your web3 universal username.
4- Unlike traditional domains, you have full control of your domain. You buy it once, you own it for a lifetime!
5- Easily create and host websites, from personal websites to NFT galleries.