Domain names were a gold mine in the traditional internet, Web 2.0. Some of the most valuable domain names have been sold for millions of dollars. And crypto domains could be equally valuable with the rise of Web 3.0.
According to the most recent market data, the search volume for decentralized internet has increased. It could indicate that blockchain platforms are becoming more widespread.
The term decentralized internet comprises various ideas that work together to achieve a shared objective, bypassing third parties like Google and Meta. The goal is for users to control and own the internet.
However, one of the most significant drawbacks of Web 3.0 and blockchain platforms is that they are inaccessible through regular web browsers. This is where NFT domains come into play, as they help accelerate the technology’s adoption with their simplicity.
The essential purpose of the internet’s next revolution is addressed by the NFT domains offered on the Quik marketplace. They provide the simplicity required to drive decentralized systems of Web 3.0 into the mainstream market. It returns direct ownership to end-users without the involvement of intermediaries.
“One of the most significant progress toward a decentralized internet is crypto domain names. With enhanced transparency, flexibility, and access control, they have the potential to transform the way we use the internet. We built Quik to lead this development and break down the hurdles to Web 3.0 innovations,”
Quik.com’s Chief Executive Officer, Sahil Kohli, stated.
Using Crypto Domains to Streamline Web 3.0
The NFT domains you buy or mint on the Quik marketplace are stored in a public ledger. You can use them to simplify your crypto transactions by substituting easy-to-remember domain names with complex alphanumeric crypto wallet addresses.
The decentralized structure of blockchain makes these domain names censorship-resistant, in addition to their utility as universal names.
You are the sole owner of NFT domains once you purchase them. A few other key advantages of Quik blockchain domains include:
- There’s no need to renew your domain name.
- Quik does not charge any gas fees.
- Use Quik NFT domains as URLs to build websites on Web 3.0
- Create blockchain apps and platforms on top of it
“We believe crypto domains have the power to bring our vision of a fully decentralized internet closer to reality,”
continued Quik CEO, citing their diverse capabilities and decentralized nature.
Most Quik users purchase NFT domains to utilize them as universal identifiers. They employ a single domain name to replace cumbersome crypto wallet addresses.
However, you can also use them to host your own Web 3.0 portals and build apps on top of it. Like with regular domains, you can leverage the scarcity of crypto names as an alternative investment.
On the secondary market, reselling appealing NFT domain names could be profitable. Quik will also give you a 5% royalty on any future sales of the blockchain domains you have minted on the platform.
Give Your Decentralized Journey a Head Start with Quik
“Web 3.0 was merely a concept for a long time. But it is expected to thrive in the near future, thanks to the introduction of NFT domains, blockchain technology, and smart contracts,”
said Kohli.
And when that happens, the first movers will have the upper hand.
Being part of the Quik ecosystem will also give you additional distinct advantages. It includes a simple and easy platform, infrastructure to move your business to Web 3.0, QUIK tokens for extra perks and discounts, and more.
Several extensions are available for minting on Quik to get your favorite NFT domain names. Quik now supports the following extensions: .chain, .vr, .metaverse, .doge, .shib, .web3, .address, .bored, and .btc. Quik expects to create more TLDs as the platform grows, revealed Kohli.
To convert these extensions into crypto domains, users can use any phrase they want with them. They can also use the site to search for available NFT domain names that have been submitted by peers and add them to the public ledger.
Quik now allows users to sell or buy traditional domain names using blockchain transactions on its marketplace for added security and transparency.