2 million NFT domain names have now been registered by Unstoppable Domains – the web 3 startup selling decentralized domain names.
Unstoppable Domains (UD) offers 10 domain extensions including:
- .wallet
- .crypto
- .piece of money
- .blockchain
- .nft
- .wallet
- .dao
Created on the Ethereum blockchain, owners can use their domains to access the decentralized web through Brave and Opera browsers and through browser extensions on Chrome, Edge, and Firefox.
Unlike traditional web domains, decentralized domains are controlled only by the domain owner and are not subject to renewal fees or price increases.
There is no centralized authority that controls the domain of individual users, which means that decentralized domains are not likely to:
- Massive phishing scams
- Arbitrary withdrawals
- Privacy breaches
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SEE ALSO: You Can Now Use Your Web Domain Name As A Crypto Wallet, Says Ethereum Name Service (ENS)
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How unstoppable domains work
Users buy their domain name once and never have to pay a fee for hosting or managing their domain.
Crypto wallet owners can use their domains to send and receive cryptocurrency payments – with support for over 280 cryptocurrencies and over 50 wallets.
This simplifies use since users no longer need to memorize long, error-prone alphanumeric addresses to send and receive payments.
To receive a payment, someone just needs to know your blockchain domain.
NFT domains are really no different from other UD domains, providing the same functionality on Web 3, including:
- Universal username on apps and websites
- Website url
- Payment address for wallets
Decentralized domains replace long crypto wallet addresses with simple usernames for payments, reducing copying and pasting errors that can lead to loss of funds.
NFT domans can also be used to host decentralized websites and NFT galleries.
Unstoppable domains are also becoming popular on social media networks, as people replace their old usernames with NFT domain names and verified profile photos.
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RECOMMENDED READING: EXPLAINER: Demystifying Non-Fungible Tokens (NFTs) and What Makes Them Valuable
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