About 83 million Blockchain.com wallet users will get their own NFT domain names very soon. Blockchain.com has partnered with digital identity platform Web3 and domain providers NFT Unstoppable Domains for the launch. The domain names provided to them will be free and will be a ‘.blockchain’ domain. For example, if a user’s name is Tim, he can get Tim.blockchain domain.
blockchain.com NFT domain names
Plans to deliver domain names to around 83 million users in the next few weeks will also be a huge undertaking for the partners. Unstoppable domains have been issued around 2.4 million usernames so far and are a well-known startup in the web3 space. At the same time, Blockchain.com has always been known since entering the crypto industry in 2011.
Now you might be wondering what is the benefit of giving domain names to so many users? Is there a use case for this? Well, it will completely change the way crypto transactions are done. If you’ve ever sent someone crypto, you’ll know the hassle of copy-pasting and double-checking the recipient’s address. They are so complicated that it is not practical to remember them. But now with the blockchain domain, users can send funds directly to these domains. So if Tim’s blockchain address was ‘1BoatSLRHtKNngkdXEeobR76b53LETtpyT‘, it would become ‘Tim.blockchain‘. And once a domain is claimed, it will be owned by that user forever.
I can’t explain how easy it would become to transact using these domains. There have been several instances where users have typed in the wrong address and lost their funds, the chances of this happening will also be greatly reduced. The company’s chief commercial officer said it would make crypto transactions as easy as sending emails. Another benefit that domains will add is to act as Web3 IDs to enable transactions across dapps, metaverse, and other platforms.
Blockchain.com is a company that provides cryptocurrency financial services. The company was the first Bitcoin blockchain explorer and then also created a cryptocurrency wallet. This accounted for 28% of bitcoin transactions between 2012 and 2020. Blockchain.com has also launched a cryptocurrency exchange that provides data, charts and analysis for lending institutional markets.
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