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You must be familiar with classic domains like .com. But do you know what NFT domain is and where to get it? In this Pooyan Music post, we will introduce you to the concept of NFT domains. Non-Fungible Token or NFT domains are blockchain domains. That is, domains based on blockchain technology. Unlike Web2.0 websites, the data of these domains and their associated websites is stored in a decentralized manner. Anyone can register a new NFT domain name, but addresses ending in .crypto or .nft cost more.
To understand how NFT domains work, it is important to understand what a non-fungible token or NFT is. In short, an NFT is a unique, digitally protected object. NFTs are widely used for digital artwork. For example, if an artist creates an NFT for a GIF or a video, they can sell it; including related rights that are defined separately. So in many cases, NFTs are a form of ownership document for digital objects.
The basis of NFT is blockchain technology. Object information is stored in blocks that are linked together to form a chain and decentralized in a peer-to-peer network.
The same technology is used for the NFT domain. The blockchain contains information about the domain owner as well as the content of a website or domain. An NFT domain is stored in a wallet just like digital currencies or NFTs. This means you are independent of the real internet and third party providers. NFT domains are also used to facilitate cryptocurrency trading.
There are several providers that specialize in NFT areas. Some examples of available domain extensions are:
.x
..crypto
.wallet
.bitcoin
.888
.nft
.blockchain
.bnb
.def
.finance
.money
.network
.io
.org
.xyz
.technology
.link
.game
.app
.cash
.zone
.tech
.club
.exchange
.digital
Unlike domain endings (top-level domains), which are officially published by ICANN, NFT domain endings are published and managed by their respective providers. These can be different so-called Web3 players. Like Unstoppable Domains which specializes in NFT domains.
The fact that NFT domains are not published by ICANN means that they are not registered in the main directory of the Domain Name System (DNS). Therefore, they cannot be viewed in all browsers. Sometimes you need to install a private plugin. Another problem could be that ICANN could in principle approve the same top-level domains for the official domain name system in the future.
The fact that the NFT domain is 100% yours and you can host websites independently of the traditional internet is one of its advantages. You can also use the domain to log into other decentralized applications (so-called DApps) and turn your wallet address into an easy-to-remember URL for cryptocurrency trading. Instead of a complex string, you buy and sell through your NFT domain.
Unlike traditional domains that have an annual fee, NFT domains are registered once and paid for once. An NFT domain is yours permanently at no additional cost.
NFT domain names are often traded on NFT markets such as OpenSea and are usually purchased using cryptocurrencies. Some providers allow you to buy the domain directly and pay in currencies like USD. NFT domains cannot yet be registered through classic domain providers.
First of all, the purchase or registration process is the same as the classic domain. Simply enter the desired domain name in the search bar to view the availability and pricing of available domains. Domains can range in price from less than $100 to several thousand US dollars. To register, you just need to link your digital wallet (of course, this functionality must be supported by the provider). Then buy the NFT domain and save it in your wallet.
