The benefits that the decentralization of the internet through blockchain brings are by far the blazing fuel that is driving the general public towards a free Internet.
The best part about it all is that the Industry is very much in its early stages. The transition towards Web 3.0 has only begun recently and NFT domain names are a fairly new thing that has a huge potential to turn into a humongous wave that carries the idea of Web 3.0 and decentralized websites forward.
Why is Web 3.0 so significant?
Web 3.0 is the future of the internet and the first observable mega-transition of the way we see and use the internet. The significance of this transition lies in the fact that the internet has always run on websites which are basically its building blocks. Again, websites are inevitably connected to domain names, conventional domain names. Web 3.0 will run on decentralized websites that will be connected to blockchain or NFT domain names. This changes a lot of things which we will look into soon.
The perceived value of the NFT domain name industry can be compared to the value of conventional domain names in the early beginnings of Web 2.0. These days, the same conventional domain names are bought for millions of dollars ( again, bought means rented out from a registrar as they are centralized and cannot be really bought as a digital asset).
This could help you paint a mental picture of how valuable of an asset the NFT domains will be in the future as well as how profitable of an investment it would be to get into them as early as possible.
How are NFT domain names different from conventional domain names?
Conventional domain names are just a replacement for the complex IP address that leads to different websites. Even though they are singular and unique they cannot fall into the digital asset terminology as they cannot be bought and owned. They are always owned by a DNS registrar and can only be rented out for agreed time periods. Also, that’s where the functionality ends. They are mere tethers to locate websites.
On the other hand, NFT domain names are digital assets that can be minted, sold and bought on the blockchain. This means that they can be owned in the name of the buyer who can choose to see it to anyone he chooses, whenever he chooses. The NFT domain names aren’t just tethered to find websites. They have a lot more to how they function than a singular purpose of locating a website. NFT domain names are the building blocks of Web 3.0 and cannot be reached via a normal browser. You will need to have a special browser extension or a Web 3.0 browser to let you reach websites built on NFT domain names.
Moving on, there are a ton of benefits that NFT domain names provide. Let’s take a look at them.
Benefits of NFT domain names.
The first and foremost benefit of an NFT metaverse domains is its ability to become an asset on the blockchain. Once you mint a blockchain domain name you become entitled to royalties whenever it gets sold to someone.
On top of that, the websites you build on the NFT domain name are decentralized and unsupervised. This gives you a complete sense of freedom without being answerable to a third-party entity. It allows you to publish your content and have no fear of your website being taken down or blocked. Also, since the NFT domain names are highly secure, they are untraceable and private therefore disallowing any kind of malicious activity against your Web 3.0 website.
It does not end there, you can use the NFT domain name as the address to your crypto wallet and transfer money through it with ease. Since the addresses to the crypto wallets are long and tedious to remember, it’s a lot easier to connect an NFT domain name to your crypto wallet and then direct transfers through it. It eliminates the problem of entering the wrong wallet address while making a transaction.
The NFT domain names can also be stored away in a crypto wallet like an asset. They will stay there, stored, the same way any of your crypto tokens or NFTs would. You can later choose to use them, or sell them on any platform. Speaking of platforms, Quik.com is a rising and very effective NFT domain name trade platform. Here’s a bit about it.
Quik.coms endeavors in the NFT domain name space.
Quik.com is an NFT domain name trade platform that allows you to mint, sell or buy NFT domain names with ease. It lets you sift through a robust search mechanism to find the NFT domain name best suited for you. If it hasn’t been minted you can mint it for yourself. If it has been minted then you will have to offer a price to the owner of the NFT domain name in order to buy it. This is also made possible by Quik.com through P2P trading of NFT domain names over the platform. The platform itself is highly secure and very user-friendly.
Additionally, here are the NFT domain name extensions that are currently available on Quik.com for people to mint NFT domain names on.
There are more that will be added in the future for sure as Quik.com extends its reaches into the ever-expanding Web 3.0.
Conclusion: why do you need to get yourself an NFT domain name?
The NFT domain names have way more functionality and use cases when compared to conventional ones, they are decentralized, private, secure, act as digital assets, and are the building blocks of the internet of tomorrow. So why shouldn’t you prepare for tomorrow?
On top of that, NFT domain names are an infant industry, in its very beginnings. Why wouldn’t you want to get yourself a part of a perceived mega-industry right when it is in its beginnings. Also, what better place to buy it from than Quik.com. The pros are all above. Get yourself an NFT domain name on Quik.com today because the others won’t stop for you.