Today, most Internet users think of domain names as combinations of letters they type into their browsers. What many people don't know, however, is that domain names are designed not just to display a website, but also to send emails and make payments, among other functions. So why don't we see domains take advantage of this extra utility? In short, the answer comes down to their control over centralized servers. In this way, centralization brings greater control, which in turn increases barriers to innovation.
Fortunately, the rise of NFTs and decentralized technologies has proven that once high barriers to entry can be eliminated. With a decentralized domain, users self-custody, ensuring full control over their assets, verified on the blockchain, and stored in virtual wallets in a manner similar to cryptocurrencies.
These domains then gain advantages such as the ability to support decentralized websites, provide full ownership control over domain management functions, and allow developers to innovate beyond browser input. In fact, NFT domain names are considered a catalyst for the transformation of today's Internet.
Quik.com recognizes the enormous potential of NFT domains, with the site claiming to be "the world's first blockchain marketplace for NFT domains." The platform, designed to support the buying and selling of blockchain-based NFT domain names, includes a domain name registry where users can browse specific listings.
The team behind Quik went on to share that their intention behind the project is to "provide a creative NFT domain name for tomorrow's Internet."
As a gateway to Web 3.0, the Quik Ecosystem aims to help businesses transition from the centralized systems of Web 2.0 to Web 3.0, a permissionless and permanent Internet future. The result will be that users can regain the freedoms lost in the early days of the transition from Web 1.0 to Web 2.0 and move towards what experts say is a decentralized future that is inevitable.
own, not rent
On top of traditional domain name sales standards, buyers can browse the offered domain names through an advanced search system, enabling users to provide blockchain domain names with minimal effort. Differences from the traditional realm become apparent at the foundation of the blockchain infrastructure.
Using the blockchain, NFT domains are owned by users, not leased. As a result, users will mint domain names with a one-time registration fee, ensuring that they no longer have to pay renewal fees. True ownership also means that the original minter will be eligible to receive a perpetual royalty of 5%-10% on each subsequent domain sale.
Upon launch, users will be able to browse top-level domains (TLDs) including .doge, .shib, .vr, .bored, .blockchain, .web3, and .metaverse, which will coincide with original artwork. With these assets, users can enter the future Internet through the gateway of their choice. That said, the minting capacity of TLDs will be limited, which means users will be on a first-come, first-served basis.
While the first round of TLDs will all live on the Ethereum blockchain (ETH), Quik.com plans to add other blockchains soon, including Solana (SOL), BNB Smart Chain (BSC), and GateChain.
In the Quik ecosystem, domain holders will use their domain name as a website URL, a common username across apps and websites, or a payment address for wallets. These use cases are considered just a starting point, which will grow rapidly as the ecosystem develops.
From domain name to wallet address
Quik's NFT marketplace for domain names will launch in late February 2022, and the team said their focus will remain 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 utilize Quik NFT domains instead of existing wallet addresses.
Quik.com is also hosting a private presale of QUIK tokens, which will be followed by a public token sale.
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Cheng Yuan
Xu Lin
Cointelegraph
Bitcoinist