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NFT domains marketplace launches to provide bridge to the next generation of internet and Web 3.0

NFT domains marketplace launches to provide bridge to the next generation of internet and Web 3.0

The majority of Internet users today recognize domains as the combination of characters they type into their browser. However, what many don’t know is that domains are designed to do much more than just display a website, with functionality for sending emails and making payments, to list a few. So why don’t we see domains taking advantage of this plugin? In short, the answer comes back to their control of the central servers. As the story goes, centralization comes with greater control, which, in turn, adds barriers to innovation.

Fortunately, the advent of non-fungible tokens (NFTs) and decentralized technologies have proven that once high barriers are removed. With decentralized domains, users are kept self-guarded, ensuring full control of their assets, verified on the blockchain and stored similar to cryptocurrency in a virtual wallet.

These domains then gain advantages such as the ability to support decentralized websites, provide complete control over ownership of domain management features and allow developers to innovate beyond what is written in the browser. In fact, the NFT domains are said to be the catalyst in bringing about the transition to the Internet as the world knows it today.

Realizing the huge potential of NFTs is Quik.com, a site that claims to be “the world’s first blockchain marketplace for NFTs.” The platform, designed to support the buying and selling of blockchain-based NFT domains, includes a domain name registry where users can browse specific listings.

The team behind Quik continues to share that their intent behind this project is to “provide a creative NFT field for the Internet of tomorrow”.

As a gateway to Web 3.0, the Quik ecosystem is designed to help companies move away from Web 2.0, a centralized system, to Web 3.0, an enduring future of the unauthorized Internet. The result will be that users can regain the freedom lost in the initial transition from Web 1.0 to Web 2.0 and evolve towards the decentralized future that experts claim is inevitable.

owned not leased

Building on the traditional standard of domain sales, buyers can browse through offers using an advanced search system, allowing users to provide blockchain domains with minimal effort. The differences in the traditional domains become apparent primarily on the blockchain infrastructure.

With the blockchain, NFT domains are user owned, not leased. Therefore, users will mint the domain with a one-time registration fee, ensuring that they are never required to pay the renewal fee again. Real ownership also means that the original creator will become eligible for 5%-10% permanent equity on each subsequent sale of the domain.

More ideas from Quik here

At launch, users can browse for Top Level Domains (TLDs) including .doge and . shib and . vr and .bored and . blockchain, .web3, and . metaverse, which will coincide with the original artwork. With these assets, users can access the Internet of tomorrow on a portal of their choice. However, TLDs will be limited in minting capacity, which means that users will be subject to first come first serve.

Although this first round of TLDs will all reside on the Ethereum blockchain (ETH), Quik.com has plans to add additional blockchains, including Solana (SOL), Binance Smart Chain (BSC), and GateChain soon.

Within the Quik ecosystem, domain owners will use their domain as a website URL, a global username across apps and websites, or a payment address for their wallet. These use cases are said to be only a starting point, which will grow rapidly as the ecosystem progresses in.

From domain names to wallet addresses

After the launch of the Quik Marketplace for NFT Domains, scheduled for the end of February 2022, the team shares their focus on launching extensions for web browsers, including their own, and partnering with several major cryptocurrency wallets, such as Coinbase. These partnerships will allow exchanges to take advantage of Quik NFT domains instead of existing wallet addresses.

Quik.com is also hosting a private pre-sale of QUIK Tokens, which will be followed by a public token sale.

Not giving an opinion. Cointelegraph does not endorse any of the content or product on this page. While we aim to provide you with all the important information we can obtain, readers should do their own research before taking any actions regarding the company and take full responsibility for their decisions, and this article cannot be considered investment advice.

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