With the rapid technological advancements, digitalization has witnessed a golden age in the past few years.
Concepts we never even heard of are now becoming mainstream. One such example is NFT domains, rising as new web extensions. Quik.com is launching NFT domain names like .doge, .shib, .metaverse, .blockchain, .bored and .vr that are linked to the blockchain via smart contracts.
The main characteristic of NFT domains that differentiates them from traditional domains is their decentralized nature.
Traditionally, when we purchase a domain name, we are merely renting it for a certain period controlled by centralized servers.
However, decentralized domains allow us to maintain self-custody and completely control our assets. NFT domains, like any other cryptocurrency, are verified on the blockchain and stored in a digital wallet.
These domains, in addition, offer advantages like the ability to support decentralized internet portals, offer full ownership control of domain management elements, and empower developers to innovate beyond what is typed into a web browser.
Notably, these NFT domains are called catalysts of revolutionizing the internet as we know it today.
Recognizing this massive potential of decentralized crypto domains, Quik.com has launched a platform, touted as “the world’s top blockchain marketplace for NFT domains,” that enables users to purchase and sell blockchain-based domain names, including an advanced search system where users can browse specific listings.
“We aim to harbor creative NFT domain names for the internet of tomorrow,” said the founders of Quik when sharing their intention behind the project.
The Quik ecosystem is designed as a gateway into Web 3.0. The platform seeks to help businesses move away from the centralized Web 2.0 towards Web 3.0, a permissionless and permanent future of the internet. It will allow us to reclaim the lost freedom when we transited from Web 1.0 to Web 2.0.
Owing Domains Over Renting Out
NFT domain names building upon the traditional standard for domain sales, Quik allows buyers to browse offerings powered by an advanced search system, enabling them to acquire decentralized domain names with minimal effort.
Blockchain enables NFT domain names to be owned by the users instead of rented. Hence, you will be able to mint the domain name with a one-time registration fee with no need for periodic renewals. Having true ownership means that original minters will get a permanent royalty of about 5% to 10% on every subsequent sale.
Upon launch, you can browse TLDs, top-level domains like .doge, .vr, .shib, .metaverse, .blockchain, and more. Each of the minted domain names comes with a unique artwork attached to it. These assets will allow you to enter the internet of tomorrow. Notably, TLDs are limited to minting capacity, meaning users are subjected to a first-come, first-mint basis.
Even though the first round of TLDs on Quik exists on the ETH Ethereum blockchain, Quik.com plans to add additional blockchains, including BSC (Binance Smart Chain), SOL (Solana), and GateChain shortly.
From Domain Names to Wallet Addresses
As a domain holder, you will be able to use your domain as a website URL, universal username across websites and apps, and payment address for your digital wallet within the Quik ecosystem.
After the launch of Quik’s marketplace for NFT domains, the team is now focused on launching extensions for web browsers, including their own, and partnering with major cryptocurrency wallets like Coinbase.
These collaborations will allow exchanges to utilize Quik NFT domains in addition to existing wallet addresses.
Quik.com will also be hosting a public token sale for QUIK tokens later this year.