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
- .coin
- .blockchain
- .nft
- .wallet
- .dao
Minted on 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 owner of the domain and are not subject to renewal fees or price increases.
There is no centralized authority that controls the individual users domain which means decentralized domains are not susceptible to:
- Massive phishing scams
- Arbitrary take-downs
- Privacy breaches
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SEE ALSO:Â 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 purchase their domain name once and never have to pay for hosting fees or management of their domain.
Crypto wallet owners can use their domains to send and receive cryptocurrency payments – with support for over 280 cryptocurencies and more than 50 wallets.
This simplifies usage since users no longer need to memorize long and error-prone alphanumeric addresses to send and receive payments.
To receive a payment, someone simply needs to know your blockchain domain.
NFT domains are really no different from the rest of the UD’s domains, providing the same function across web 3 including:
- Universal username across apps and websites
- Website URL
- Payment address for wallets
The decentralized domains replace lengthy 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 for hosting 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 pictures.
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RECOMMENDED READING: EXPLAINER: Debunking Non-Fungible Tokens (NFTs) and What Makes Them Valuable
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