The blockchain technology that powers NFT domains gives users a safer way to browse the Internet and more control over their user data.
Top 5 Use Cases for NFT Domain Names
An NFT domain name is a unique domain name that combines two concepts and is a type of cryptocurrency wallet address that can be used as a website domain name.
NFT domain names are supported by blockchain technology, allowing users to browse websites more securely and master their own user data.
The emergence of NFT domains can be seen as a revival of the “.com” era, but NFT domains support more use cases and functions.
NFT domains are about to change your perception of the Internet. Get ready and we’ll take you deeper into the mysteries.
Historically, domain names have been one of the internet’s most valuable digital assets, but Web 2.0 has been limited to the presentation of websites. Fortunately, the blockchain technology behind NFT domain names has enabled the Internet to have infinite possibilities. If you want to know what makes NFT domain names unique, their use cases, and how to get them, this article is not to be missed.
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What is an NFT domain name?
NFT domains are cryptocurrency wallet addresses linked to non-fungible tokens. This means that your online data is not controlled by an entity like Facebook, and control of the data is put back into the hands of the user. The NFT domain name is located on the blockchain, and anyone can view the data stored on the chain. This kind of openness and transparency is not available in Web 2.0.
This type of domain name is also more secure. Only you can update your NFT domain name, so you can try to avoid the domain name being stolen or hacked.
Traditional Web 2.0 domain names use an annual renewal model, while NFT domain names are usually one-time transactions. These domains are 100% owned by the user and no centralized company can review or take back your domain name.
How do NFT domains work?
Compared with the business model of Web 2.0, NFT domain names have many unique advantages. But before you start looking for your own NFT domain name on a whim, let’s take a brief look at how NFT domain names work:
- Your exclusive domain name:
- These domain names can be bought and sold like NFTs, or they can be held for a long time.
- The functionality is similar to a wallet address:
- You can use an NFT domain name to send or receive its supported cryptocurrencies and tokens. The standard wallet address is a string of arbitrary letters and numbers, and NFT domain names such as firstname.bnb are more readable. You can get your NFT domain name on Binance’s Trust Wallet, which supports many types of NFT extension domains.
- Doubles as a domain name:
- Similar to a regular domain name, you can type the NFT domain name into your browser and view the website content.
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Top 5 Use Cases for NFT Domain Names
Content creation
NFT domains can help content creators take back control and ownership of digital identities. Creators can use blockchain technology to publish digital content on a decentralized network without having to rely on social media platforms.
This means that content creators are the only ones who can change or delete content, and centralized platforms like Facebook, Instagram or Twitter cannot delete their content or close their accounts.
Furthermore, after content is published on the NFT domain, all data and analysis are owned by the creators themselves. Tech companies may pay them to view their user data in the future, rather than use it for free.
Professional website
Like content creators, companies may start hosting their websites on NFT domains instead of traditional domains. NFT domains can alleviate many of the issues that an online business can face, such as domain companies taking back websites, being bound by platform terms and conditions, and paying hosting fees on a regular basis.
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Music
Musicians have struggled to acquire intellectual property (IP) since the dawn of the internet. Third parties often withhold their revenue, taking a portion of it in return for “marketing”.
NFT domains provide an independent platform for musicians to publish their work without interference from third parties. Musicians can use NFT domains to promote their music, mint audio NFTs, and communicate directly with fans to take back ownership of their music.
Art
Artists can gain more exposure and differentiate themselves through artistic digitization. On NFT domains, artists can showcase, auction and sell their work in one space. In addition, artists can receive payments on NFT domains, and there is a seamless connection between artists and buyers.
In the future, viewing artworks in virtual museums and galleries may become commonplace as VR technology becomes more commonplace.
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Community and Forum
NFT domains help redefine how users interact in digital communities and forums.
Community and forum users can speak freely on the decentralized website without relying on centralized services or worrying about censorship.
How to buy NFT domain name?
Once you understand how NFT domains work, you can follow these three simple steps to buy your own domain name.
- Step 1: Visit the NFT Domain Market
- Similar to buying a traditional domain name, you need to visit a website to buy it. You can head to NFT domain marketplaces like Unstoppable Domains or Trust Domains.
- Step 2: Choose Your Favorite Extension
- Various extensions such as .crypto, .dao, and .nft will be launched on the NFT domain name market. On Trust Domains, you can choose domains like .defi or .bnb.
- Step 3: Payment
- After selecting the desired extension, you only need to pay to complete the purchase.
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Conclusion
Buying an NFT domain name is no small feat. You can take this opportunity to experience the infinite possibilities of the Web 3.0 era.
As the process of decentralization of the web continues to advance, users and content creators can take back ownership of the Internet from the current large centralized companies.
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Comment by Hans
April 24, 2024
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