What is an NFT Domain?

What is an NFT Domain?

NFT Domains

NFT domains are domains that live on the blockchain and give users complete ownership over their stored data. Much like cryptocurrency is doing in removing the banks dominance over currency markets, NFT are working to empower user ownership of digital assets. So how exactly does an NFT domain work, and what advantages do they offer compared to the old model?

How NFT Domains are Different

The first most important feature of an NFT domain, is that much like any NFT, it is uniquely yours. Owners can buy, sell or trade their NFT domain freely, or simply hold it like an investment. There are no additional registration fees.

Types of NFT Domains

Much like the Web2 world, domain users have a variety of choices, some of which are more popular and thus more expensive. In the Web2 world, .com is king. For NFT domains, they typically use the following types:

  • .nft (more expensive than others)
  • .crypto (more expensive than others)
  • .bitcoin
  • .blockchain
  • .x

Pros and Cons of NFT Domains

Pros:

  • Simplifies crypto transactions by replacing hard to remember wallet addresses.
  • Fully own and control your domain, forever!
  • Content used in your domain fully belongs to you.
  • Easily host and create websites.
  • Login to applications with your domain name as your Web3 username.
  • You can access DApps using your domain.
  • .Com still king of domains
  • Not all browsers will have access to NFT domains
  • Might be confused with NFT art market
  • A lost NFT is hard to retrieve

How to Purchase an NFT Domain

Step 1: Find an NFT domain marketplace

Similar to other NFT marketplace, but focused on NFT domains. Unstoppable Domains and Trust Domains are a few popular markets.

Step 2: Pick your extension

Find the extension that best fits your website or content, like .crypto, .nft, .dao, or .bitcoin.

Step 3: Purchase

Make your payment to finalize your purchase. NFT Domains require a one-time purchase payment. After that, that domain belongs to you forever!

Conclusion

As web users seek to reclaim their ownership in the digital world, NFT domains will become a huge part of that. Whereas most people use cloud platforms like Facebook, youTube, and Tik Tok, NFT Domains allow users to create content, share it with the world, but maintain ownership of all they create. The current system allows users to leverage a platform to grow their brand, but ultimately most content shared on these platforms belongs to the platforms, paying a small advertising royalty to the creator.

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