Tuesday, August 16, 2022

Why big tech firms are scared of NFT Domains?

The Takeaway:

The decentralized Web 3.0 is expanding swiftly and is increasingly simpler to access. NFT domains are a novel and intriguing element in this decentralized network. They have the power to alter both the names of websites and the internet. You can buy, purchase, and sell NFT domains on Quik.com.

Since smart contracts make up blockchain domains, they differ from conventional domains. These pieces of software add a layer of functionality, transparency, and security and operate on a public blockchain.

NFT blockchain domains have existed ever since bitcoin first appeared. They were limited in applications before smart contracts. However, since the development of smart contacts and the capacity to understand complicated links, the potential for crypto domains has significantly increased.

By replacing web portal IP addresses, traditional domains enabled Web 2.0, but their limited adoption was due to their centralization and complexity. Over time, there has been a glaring lack of innovation in some areas of domain names. Quik.com will revolutionize all of that for the better.

The Quick.com NFT Domains

By enabling users to pay out to blockchain on its platform, Quik.com hopes to promote innovation in the NFT space.

NFT domain names are registered on the blockchain’s public ledger, which offers users a wide range of features and advantages. They can encourage innovation in the direction of the apocalyptic internet.

 

Available NFT TLDs at Quik.com

Quik.com began providing its services in March and presently provides a wide range of domain names based on NFT, including:

.metaverse

.vr

.chain

.address

.i

.bored

.doge

.shib

.web3

 

How Can I Purchase an NFT Domain Name Through Quick.com?

Process for obtaining an NFT domain through Quik.com:

  • Choose your preferred TLD.
  • Look for the desired NFT domain name.
  • A “MINT” button will be displayed next to the search box if the chosen NFT domain name is available.
  • A notification will be sent to your digital wallet when you press the Mint button.
  • Accept the money transfer into your virtual wallet.
  • Done

The NFT domain will be generated and kept in your digital wallet together with any other cryptos or NFTs you may have. It will reflect in your wallet as soon as the transaction is completed on the blockchain. It’s that simple!

It provides users complete control over the NFT domain and is a crucial component of Web 3.0. On Quik.com’s market, users can also list, purchase, and trade such NFT domain names.

 

Advantages of an NFT domain registered using Quik.com

NFT domains are far superior to conventional, centralized domain names in many ways.

Anyone can create a website on a public ledger without restrictions because NFT domain names are not centralized. On top of the website, you can create a functional app and connect it to any digital wallet to conduct transactions.

After purchasing a blockchain domain, you will always be the NFT Domain’s legal owner, and you’ll never be charged a renewal fee.

Using your NFT domain name as your cryptocurrency wallet address will make it simpler for you to remember.

Quik aspires to simplify the entire NFT domain trading process, making it safer, open, and private. By introducing a new method for users to sell, acquire, and “mint” NFT domains, Quik hopes to lower barriers to Web 3.0 innovation.

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.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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