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Interested in knowing who can own nft domain and how to work with it? Read this article! It contains tons of information on how to mint NFT domains and how they work.
What Is NFT Domain?
In order to understand who owns an actual NFT domain, we must understand first what exactly is such a domain. An NFT Domain is the type of a domain name, which exist solely in the form of a contract, which is listed on the Blockchain, which is hosted in the public in a decentralized manner.
These types of domains include new types of extensions, which are available only in web 3.0, such as .nft, .crypto and others.
They are often listed on Blockchain, such as the commonly used Ethereum and Polygon.
The primary method, which characterizes them is that they are hosted by being stored on a crypto wallet, from where the ownership comes. This means that you can mint such a domain as long as you have a cryptocurrency wallet that supports the Blockchain that the domain is hosted on. This is why the only owner of an and if the domain is the one who owns the wallet, through which domain name was purchased.
Nobody else has any right or control over this domain and no one can enforce anything on it, even if it’s big tech companies, because simply they do not have control over this the man and the woman who owns it retains full route control and is responsible for everything that happens to this domain.
Many people understand these entities as a new way and approach towards web hosting, website publishing, wallet address replacing and networking in general.
What Are The Benefits of NFT Domains?
Since they are decentralized, this makes them in a position that is better for their owner, compared to traditional domains as they are the sole owner of this domain and can do whatever they want with it without having to pay any taxes or anything else, this increasing the control over the domain, when you compare it.
Other benefits that go to the owner of such a domain include:
- Nobody can retake the domain from them unless they transfer it from their wallet on their consent.
- It can be used to create Web 3.0 websites that are decentralised.
- They can do everything you want with it without asking for anyone’s permission.
- They retain the full management control over this domain for life.
- Most owners replace the traditional long cryptocurrency addresses with such a domain and instead of the long and boring address, the register their own one, for example “yourwallet.wallet”.
How to Get One by Minting It?
In order to truly on an NFT domain, you have to first purchase the domain name and then add it to your cryptocurrency wallet, which is also known as minting.
The biggest service that can very simply do that for you is known as Unstoppable Domains and in this tutorial we will show you how simple it is to get your own and use it to either create a website, sell it for profit or simply replace your boring and long cryptocurrency wallet address.
How to Own an NFT Domain?
Step 1: Visit the site of Unstoppable Domains and set up a new account (it’s free):
Step 2: In the search bar type in the domain name that you are interested in registering. In this case will use an example domain:
Step 3: Make sure to choose the domain name that is suitable for you. You can scroll down further to the pages to see the mains that are priceless and adjust them, according to your budget:
Step 4: go on the top right hand corner of the site in order to complete your purchase by checking your cart:
Step 5: Finalize your purchase by selecting the payment method. As you can see if you have the ability to use several different payment methods, such as credit card, cryptocurrencies and others:
How to Buy NFT Domains?
Now that you have purchased your own domain name, it is time to mint it and therefore own it forever. You can do this by meeting it online, using the instructions below:
Step 1: From your account in Unstoppable Domains, visit Domains > My Domains and then click on the button, next to your domain name (you should see it if you purchased it), called “Free Mint“:
Step 2: Open your email to confirm the minting process:
Step 3: Choose the method via which you want to mint your such a domain and own it. We recommend using meta-mask wallet, as it is most often used and more secure. Plus it has a really easy way to set it up. Doing so will make sure the domain is tied to this wallet in particular and you own it completely:
Step 4: Click “I understand” and then “Confirm” to mint and own your domain:
That’s it! This is the whole process of how an ownership of NFT domain becomes a reality.
The benefits this are multiple, because unlike traditional domains, you have only registered as the main ones and it is truly your own domain name, including all of the rights over it for life.
We hope our guy was useful in helping you on your first NFT domain or at least understand what it is and who owns it. If you have any questions you can use the comment section below as we will help you as soon as we notice your question or remark.
NFT Domains – FAQ
What Is an NFT Domain?
An NFT Domain represents a virtual web domain that is hosted in a decentralised manner in web 3.0 and runs in the form a smart contract, which is listed on the public Blockchain.
NFT domains include many domain extensions, that are new, such as .nft or .crypto, which are available on the Polygon and Ethereum blockchains.
How NFT Domains Work?
NFT Domains are hosted in a decentralised way. This means that there is no specific server doing the hosting, similar to what is Cloud Hosting, but with the difference of a clear decentralisation across all of the devices supporting the blockchain.
What are NFT Domains Used For?
Having no clear control due to decentralization allows NFT domains to have the following applications, when compared to traditional domains and web hosting:
1. They can make your long and boring crypto address short and easy to use by changing it using an NFT domain name instead. This works with most of the cryptocurrencies, including LTC, ETH and BTC.
2. Simple and easy to remember, making working with them a breeze.
3. You get a full control and ownership of the domain for life.
4. You pay only once when you get the domain to own it and there are no other hidden fees and monthly charges as it is not controlled by big tech.
5. There is no limit to how many NFT domains you can own and you can sell them very easily.
How to Get an NFT Domain?
In order to register NFT Domain to your name and then link it to your wallet, you should complete the following steps:
Step 1: Create an account at Unstoppable Domains.
Step 2: Type in the domain name you are interested in registering and you will get an extended list of suggested domains available at different prices.
Step 3: Choose your favourite among the suggested domains and add it to your cart.
Step 4: Open your cart from the website’s top-right hand corner and complete your purchase by selecting the payment method.
Extra Tip: Unstoppable Domains is by far the first and best platform for NFT domains so far, but you can also check other NFT Domain sellers if you are interested in other platforms or blockchains.
How to Mint NFT Domains for Free?
Below are the steps it takes to link your domain to your crypto wallet and mint it for free using Unstoppable Domains:
Step 1: Go to your profile on Unstoppable Domains. After your have purchased your domain, go to Domains – My Domains and you should see it there. Once there, click on the “Free Mint” button next to it.
Step 2: Make sure to confirm your e-mail address by entering the code sent to it as a security measure.
Step 3: Choose to which wallet you want to tie the domain to. If it is not supported, you should create a wallet on one of the supported platforms. We suggest using Metamask as it is the safest option.
Step 4: Click “I Understand” to confirm and the “Confirm” to mint your NFT domain.
Minting an NFT domain means making it a part of your wallet and owning it completely. You can later sell the domain for profit or use it to build a web 3.0 website.
How to Make Money With NFT Domains?
The only working and known way so far to make money in web 3.0 with NFT Domains is to sell them by flipping them for profit. This works by performing the following actions:
1. Buy the NFT Domain.
2. Mint the NFT Domain to your wallet.
3. List it on NFT Domain Marketplaces at the right price that will make it desirable for investors.
How to Make a Website from NFT Domain?
Creating a website from an NFT Domain is still at its early stage of development. However, if you want to make your own web 3.0 site, make sure to check out the official extended guide by HTH on How to Create a Website on The Decentralized Web.