In the context of the public Blockchain, Web3 Domain is a fictitious website with a Web 3.0 backend that operates as a smart contract. Many new domain extensions, like .nft and .crypto, are some of the available Web3 domain extensions on the Polygon and Ethereum blockchains. This article will discuss some of the most popular Web3 domain extensions. Let’s go!
What is Web3 domain extension?
When searching the world wide web, you’ll find domains known as Web3 Domains, which are housed on a decentralized network and backed by smart contracts. There are web3 Domain sellers, which are the businesses or groups that create and sell these domains.
Also, Web3 domain extensions, such as the popular .eth, .nft, .metaverse, .moon, .chain, .airdrop, .young , .free, .xxx, .layer, .hodl, .lambo, .token and so on, are examples of this kind of domain. These add-ons are recorded on distributed ledgers (blockchains), there are Freename and Cloudname that function on Polygon, Cronos, and Binance technology.
In addition, these Web3 domains are kept online since they are hosted in a decentralized manner, and the proof of ownership is held in your wallet, unlike conventional domains. As soon as you add the domain to your wallet after registering it, no one else will ever be able to use it again.
Web3 domains offer a wide variety of advantages due largely to the fact that buying one grants the buyer unrestricted use of the domain in question. This means there is no regulation or oversight from large IT corporations, unlike the situation with conventional domains, and you are free to do whatever you wish with the domains.
The following are some of the primary advantages of Web3 domain extensions to help illustrate this point:
- Once you’ve paid for a Freename domain, no one else can take it away from you.
- Easy steps to create your website.
- By using smart contracts, you can freely transfer from your wallet to other wallets.
- You are the undisputed owner of your domain.
- Domains can be linked to crypto wallets to simplify the transfer of funds, such as “name.wallet” instead of the convoluted wallet ID.
Why buy Web3 domain extensions?
Both investors and business owners can benefit from purchasing web3 domain names.
- Web3 domains allow you to shorten the number of characters in your Bitcoin and other cryptocurrency addresses. It supports Bitcoin, Ethereum, Litecoin, and other types of cryptocurrencies.
- Since it’s basic and easy to remember, your domain can be used as a login on the decentralized web.
- You have the ability to customize your domain in whichever way you like.
- As an NFT investor, you can buy numerous Web3 domains at once, store them away, and later sell them for a huge profit.
Who are the best Web3 domain extension sellers?
Here, we’ll highlight the best-selling domain name extensions currently available online.
Freename
There is no place but Freename to look for or register or mint a certain TLD. If the TLD doesn’t already exist, and you register it first, you can activate “Royalties,” and you’ll get paid for every subsequent domain registration that uses that TLD. It provides a perfect means to earn passively.
In addition, domains at the second level can also be purchased through Freename (with traditional or other TLDs already existing). A credit card or a Metamask can be used to pay for this transaction.
All the benefits like no renewal fees, user ownership at 100%, and usability as cryptocurrency wallet address of web3 domains apply to domains with new top-level domains.
Advantages of buying Freename
- You have the advantage of minting your TLD and also being able to connect your cryptocurrency wallet.
- Your domain name officially belongs to you. Keeping it does not necessitate paying a renewal cost.
- In addition, you earn royalties on the newly minted Freename TLD you own.
- In addition to hosting modern Web3 sites, your Freename domain can host your classic Web2 sites as well. To accomplish this, knowledge of programming languages is not required. This page can be linked to e-commerce sites like Shopify and others.
Conclusion
There is no centralized hosting for Web3 domains. In other words, unlike with Cloud Storage, there is no centralized server handling the hosting duties; instead, the blockchain operates in a decentralized model on all compatible devices.
In contrast to conventional domains, the owner of a Web3 domain with root access has complete authority over the domain and can do whatever they choose with it. They can either make it a website on the Internet network, flip it for profit, tie it to a wallet, etc. Web3 domain extensions are unique because they differ from the conventional “.com.”
Start your Web3 journey with Freename TLDs and Domains. Sign up now and get a welcome coupon code of 10$ on your first purchase.
