Tuesday, August 16, 2022

How to Mint your First Metaverse NFT Domain on Quik.com?

The Takeaway:

Quik is a blockchain-based marketplace that enables users to mint, buy and sell NFT domains. Minting NFT domains on Quik.com (1) is now live, the users can mint NFT domains with exclusive TLDs like .metaverse, .vr, .chain, .bored, .doge, etc.  The minting process on this platform work on the first come first serve model (2). 

Quik is an NFT domain name service!

Quik.com strives to become the gateway to web3, the NFT domain names could be used to host a web3 decentralized website on the platform. The minted NFT domains on Quik offer the users sole ownership of all the digital assets that are paired with the domain (3). These domains cannot be copied once they have been registered by the user.  

 

So, Why Quik?

The NFT domain will simplify the process of crypto transactions, as it replaces the long alphanumeric wallet addresse that could only be read by the machine. They can now use their NFT domain name as their universal username across web3. They would have complete control and ownership of the NFT domain, this way it would be more secure and decentralized. Users can also use their NFT domain to build their own decentralized website (4). 

The NFT domain minted from Quik is very useful, and in the future, there would be many benefits as the Quik.com platform develops.

 

Why NFT domains?

There are many factors (5) behind why the user should choose NFT domains over traditional domains. For one the traditional domains are leased, and usually require a renewal fee to keep the domain name. But the NFT domain name, on the other hand, is purchased and therefore remains under the ownership of the users until they decide to sell it.

The transaction on the NFT domain is verified in the public ledger, therefore when the domain is sold the owner holds authority over it. 

 

Are they limited?

Yes, the NFT domain TLD at Quik has a minting limit. As we know minting is based on the first come first serve model, therefore users cannot mint the NFT domain at their own leisure. For example, the .metaverse TLD has a minting limit of 20,000 names, so only 20,000 domain names with the .metaverse TLD can exist.

Did you know that the minters get a lifetime royalty on all the future sales of their NFT domain!

The NFT domain is minted on blockchain technology, therefore it can be stored in the users’ wallet as an asset. The users can sell, exchange and hold these assets according to their needs. Since these domains are not under centralized control, therefore they stop any third-party interference and ensure privacy and security over the data ownership (6). 

 

Are they Secure? 

The NFT domains bought from Quik.com are very safe (7), the reason as we already know is that they are stored in blockchain. Therefore we can assume the level of security of the NFT domain is similar to that of blockchain.

The NFT domain is kept on the users’ digital wallet, therefore they can easily monitor and verify them. 

Being stored on blockchain give them an extra layer of protection, therefore only the users could block their domain. This also means that their website will not go offline because of censorship. 

 

But why choose Quik over others?

One major reason why people prefer purchasing NFT domains at Quik is that at Quik they won’t be charged a renewal fee. Once the domain name is bought it would remain under the ownership of the user until they decide against it. Therefore only the user would have the right to sell or transfer the domain name.

On the other hand, traditional domain name services would require renewal charges once the allotted time is up. That means if the user fails to pay the renewal fee the DNS platform can put up the domain for sale and the users will have no say in this issue.  

The other reason (8) why people chose Quik.com is because of its range of TLDs. Here the users have a comparatively much larger range of options to choose from and adding this fact with the no renewal charges, it becomes quite obvious what the choice of the user will be. 

Therefore, many prefer purchasing the NFT domain at Quik.com!

 

Are you wondering how to mint the NFT domains at Quik?

Well, look no further!

Following are the steps (9) to successfully mint an NFT at Quik.com

  • The users have to link their digital wallet to the Quik ecosystem.
  • They have to log into their Quik account.
  • They can then search for the domain name of their choice from the list in order to register.
  • Once the domain name is available, the users should click on the “Mint” option.
  • Then they would have to approve the transaction on their digital wallet.
  • If the purchase has been successfully approved, the user will be able to see the domain name in their profile section. 

There could be instances where the users are not able to get the domain name they wish to have (10). The reason behind such an issue would be that the domain name has already been acquired by someone else.

If they still wish to have that particular NFT name they could then negotiate with the owner on the Quik P2P marketplace. If the negotiation is successful then the user could then buy the domain name from them. 

 

Uses of the NFT domains

Quik.com has been preparing to launch a chrome plugin. This plugin would allow the users to utilize their NFT names to host decentralized websites on IPFS. They could use a plugin to surf the web3, but all of this would only be available within the Quik.com ecosystem.

The users could mint, purchase and sell the NFT domain name to earn some profit. The NFT domain could be utilized as the crypto wallet address, making the whole process of transaction easy and hassle-free. 

NFT domains can function as the gateway to web3. The NFT domain name is not affected by censorship, therefore, it cannot be taken down by anyone else but the owner, which works toward the direction of making Web3 a decentralized experience (11).

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Dorsey Gray
Dorsey Gray
Dorsey works in the oil and energy industry since he graduated as a mechanical engineer from Bagdad Senior High School. However, he loves to explore and write about the financial world while he sits in the balcony of his beachside room. Dorsey also loves to cook, but just for himself.

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