Quik.com will soon be releasing its online market platform that will allow P2P consumers to trade all types of domain names including blockchain domain names in addition to other digital assets. It will be released as a platform for dedicated transactions in blockchain through which you can buy and sell your domain names.
The scope of the domain name industry.
The domain name industry has largely been the center of attention with domains being irreplaceable and uncopyable digital assets that formulate the basis on which the internet runs on, as we know it today. With the industry projected to reach a trillion dollars in market cap by the year 2027 by experts, Quik.com sees an open opportunity to bring the trade of domain names onto the blockchain.
Quik.com will have all sorts of domain names including conventional domain names as well as blockchain-based domain names that can very likely be called NFT domain names. The platform will provide dedicated sections for the minting, listing, selling, and buying of the blockchain domain names. Conventional domain names will also be sold and bought over blockchain, creating easier and faster transactions along with a good amount of transparency.
Difference between conventional domain names and NFT based domain names.
The main difference between conventional domain names and blockchain NFT domain names is the difference in functionality and essence. Conventional domain names aren’t decentralized and only have limited functionality to act as a replacement to a website’s IP address. On the other hand, blockchain-based domain names have a lot more functionality. This is presumably why we are moving towards Web 3.0 and why Quik.com aspires to be a major bridge towards it.
You can utilize a blockchain domain name for a wide range of purposes. If you’re talking about digital wallets, start by highlighting how popular they’ve grown. The URLs for most cryptocurrency wallets are so long and difficult to remember that they are almost unusable. If you copy the wrong address, you may find yourself sending money to the wrong wallet. Using a blockchain domain name as a link to a cryptocurrency wallet can save both time and effort.
It is also yours to keep as the sole owner of the domain name. It can also be used to create websites. These websites will be characterized by a lack of central control and absolute openness. Domain name revocation and website content restrictions are not likely to be an issue for the most part. To ensure a future free from oppressive or suffocating governments, blockchains will decentralize the internet.
For the blockchain domain name that you own, there will be no registration or renewal fees to pay. Your unique blockchain domain name will be yours after it has been created. For as long as you own it, it will be yours to do with as you like.
Domain-name websites based on blockchain technology can also be used to host a variety of online applications. Gaming and other powerful apps are planned to be a feature of Web3. Blockchain domain names, which are collections of smart contracts, will underpin all of these.
How to mint an NFT domain name.
After the release of Quik.com, you will be able to use its platform to mint your own NFT domain names. The platform will provide a dedicated section for such domain names that you can visit. A list of blockchain domain name extensions that can be used in conjunction with your preferred address will be provided, and you will be able to check whether or not the domain name extension is still available. The only thing that must be done if the coin is already available is to mint it on your preferred blockchain, which may be chosen from among the blockchains that are now available to be minted.
Minting is just the process of transferring a domain name from a traditional server to the public ledger of the aforementioned blockchain, where it will continue to function as a blockchain domain name until no longer required. Web 3.0 is totally decentralized, and it serves as the foundation for the future of the Internet.
Conclusion
Both conventional and NFT based domain names will be available on the Quik.com platform after its release. Quik.com will be playing a great part in the transition from Web2.0 to Web3.0 by promoting the rise of NFT based blockchain domains after its release. Additionally, the sale of conventional domain names will be revolutionized by the intervention of payments for the domains over blockchain inducing efficiency, security, and transparency to the domain name trade.
