The domain name LasVegas was sold to a Las Vegas travel company in 2005 for nearly $90 million, making it one of the most valuable assets on the internet. Earlier this year, Voice.com was sold for $30 million, while Monaco, a crypto visa company, purchased Crypto.com for around $ 12 million in 2018.
Despite the eye-popping numbers, none of these businesses own any of the aforementioned domains. Rather than owning the domains, they simply lease them from the registry. For this reason, they must renew their registration by paying an annual fee; otherwise, the domain will be returned to the market if they fail to do so.
It’s not uncommon for less-reputable registrars to prey on domains about to expire and then try to resell them back to the original buyer or on the open market for a high price.
With blockchain domains, this is not the case. NFT domains are one-time purchases, unlike common Web 2.0 domains. Compared to companies like Google Domains or GoDaddy, these are completely user-owned and unrestricted.
However, the level of capability offered by NFT domains makes go far beyond just as a domain name.
Is there anything special about Blockchain Domains?
The following are the fundamentals of the NFT domain:
- It is possible to buy and sell NFT domains like other NFTs and traditional domain names.
- They may also be used as crypto wallet addresses, letting anyone send you crypto that looks like ‘ABC.web3’ instead of the long crypto wallet addresses.
- Using IPFS, they serve as the domain names for your web3 website.
- A key highlight for Web 3.0 players is providing direct ownership to end-users without intermediaries.
The NFT domains by Quik.Com cater to all the above points:
- You can mint, list, buy, and trade NFT domains on the Quik blockchain marketplace without needing a third-party intermediary.
- In transitioning your firm from web 2.0 to web 3.0, Quik.Com provides you with a solid foundation.
- NFT domain names will soon be used as web addresses and wallet addresses, thanks to a new Quik chrome plugin.
Quik is a great place to get NFT Domains.
Quik.com is leading the space in NFT domain names. You may establish and control your own digital identity with Quik’s blockchain domains marketplace, which enables you to define the future of Web 3.0.
A slew of new blockchain domain extensions is now available for registration through Quik, including:
NFT domains can be minted by applying any NAME of your choice to these extensions. NFT domain names that peers have listed can also be transferred to the public ledger on the platform.
NFT domain names can be listed or purchased on the Quik platform utilizing blockchain transactions, making the entire process more transparent and secure.
Present NFT domains are built on the Ethereum blockchain, but Quik intends to establish more NFT domains in the future on other blockchains like Binance Smart Chain and Gate Chain.
One-time purchases of blockchain domains from Quik are free of renewal or gas fees, making them ideal for organizations and individuals.
By launching its browser extension, Quik will allow users to host a decentralized website URL and use their blockchain domains as a crypto wallet. If you want to learn more about Quik NFT domains, you can visit their official website Quik.com for additional information.