How do crypto domains work, and are these nft domains indexed by google? We go in-depth on why these nft domains are growing in popularity, what they are, and the benefits of owning them.
As you may know, crypto domains are public blockchain domain names readily generated and meant to host websites, applications, wallets, or exchanges. Our guide explains more about use cases for these domains and shares examples.
Also, we share the concerns you should be aware of when buying your first crypto domain and how to get these domains before they sell out.
Let’s start with the basics and then dive in:
What is an NFT domain? (a.k.a Crypto Domains)
NFT domains (also known as crypto domains) get minted to the blockchain and act as web3 property similar to traditional websites on the internet.
However, there are many types of these digital domains. The most common kind is .eth, which is on the Ethereum blockchain. Others include unstoppable domains with a .nft or .x at the end compared to a .com.
Only a few browsers support nft domains, and currently, you require a plugin to view those properties. Examples of nft domains on the ethereum blockchain look like “johnsmith.eth” verse un domains (unstoppable domains) look like “johnsmith.crypto” or “johnsmith.nft”.
A widespread use case that continues to grow (with community support) is using these crypto domains as a single source for managing digital wallet addresses. In other words, crypto exchanges or wallets can have a central address that is far more customer-friendly.
Additionally, nft domains can be sold on secondary marketplaces like OpenSea and even burnt like other non-fungible tokens. They become verified via the blockchain like any other non-fungible token.
Expect to see people start flipping crypto domains when they all become unavailable and adoption grows over the next few years.
Benefits of Owning an NFT Domain in Web3
1. Real Ownership of Your Web3 Property
A traditional domain comes from a registrar or hosting provider. You rent a traditional domain and don’t own the web property.
However, in web3, you can own the crypto name as digital property verified by the blockchain. Also, if you match the terms and restrictions, you can use the domain for your website.
2. Centralization of Your Digital Assets
Connecting your smart wallets or a crypto exchange to an nft domain creates convenience and simplifies long crypto addresses. However, never fear sending funds to the wrong address.
You can now send cryptocurrency using only one domain, and if you know someone else’s nft domain, you can transfer the crypto to them using their nft domain. In addition, when you connect your domain name with several wallet addresses, it will automatically point to the original address.
Upon purchasing one of these domains, it becomes stored in your wallet, just like a cryptocurrency. So you’ll never fear losing the nft domain either.
For example, if you need to remove a stuck transaction by sending crypto to yourself – type your domain name as the address (as in the example “john.eth”) and send it to the correct wallet address. (0x045sfdf5…. )
3. Cost Efficiency & Reliable for the Future
Traditional domains remain at a fixed cost annual or per month and can expire. However, NFT domains do not expire or need to renew. It’s only a one-time cost, you own it, and only you can transfer it.
It’s important to note that ENS .eth crypto domains still require a renewal fee; however, unstoppable domains are completely permeant and yours without fees. Also, unstoppable domains allow you to choose between many internet top-level domains (TLDs) such as .crypto, .nft, .x, etc.
Are NFT Domains Indexed by Google?
NFT domains are not indexable by Google due to their incapability across multiple browsers. Furthermore, since their digital properties and intended for web3, the internet hasn’t fully adopted this new technology of minting domains on the blockchain.
Those buying crypto domains remain ahead of the curve because they can purchase brandable premium names that could have search engine optimization (SEO) benefits in the Future.
For now, nft domains remain a new opportunity to connect your wallets through a secure blockchain protocol and make your digital web3 experience go smoother.
Privacy Concerns When Using NFT Domains
1. Sharing Personal Data Within the Domain Name
As most nft collectors continue to rush to get their crypto domain before it’s unavailable, there’s a small warning they should be aware of when making their first nft domain purchase.
Blockchain addresses are public, so be cautious not to expose too much personal information while connecting your smart wallet to this public realm.
For example, avoid using your full name like “JohnSmith.x” because bad actors may learn how many valuable NFTs John has and physically attack him.
Some nft collectors want there to be a way to keep your blockchain address private when buying crypto domains.
2. You Still Have To Pay Gas Fees For Crypto Domains
Like any other activity on the blockchain, you’ll have to pay gas fees to mint the domain name from either ENS or Unstoppable domains. It can be costly if not done during the ideal period.
Minting an nft domain can cost anywhere between $50 – $70 depending on Gwei you need to use and how many spend in transaction fees on the secondary marketplace.
Set aside some of the additional cash for gas fees when looking to buy an nft domain as you would for any other digital asset.
How To Get an Eth Domain Before They Become Sold Out
Since some names are more common than others, getting your first before others is essential. However, some names are too expensive, like $20,000 or $40,000, selling at a premium since many people have that name.
Take the time to use these quick tips when picking out a perfect nft domain:
- Add an 0x to your name
- Include a number with your name
- Use only your first name, not your last name
- Consider a nickname
- Decide on length: Keep it short
It shows you are an original (OG) in the crypto space.
It also reduces how much your premium nft domain name would have cost you in the first place.
If you’ve enjoyed reading about crypto domains, then you’ll enjoy these:
- Create a Crypto Coin Dashboard Using HTML for Free
- How to Get Views on OpenSea To Sell More NFTs
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