You can now easily buy and sell domains as NFTs on Ethereum scaling network Polygon 🚨 This article is 3 years old...
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You can now easily buy and sell domains as NFTs on Ethereum scaling network Polygon
Users will be able to claim and manage NFT domains without lofty transaction fees, as well as access a fast-growing ecosystem of Polygon apps.
2 min read
Updated: Oct. 27, 2021 at 8:18 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Polygon, an Ethereum scaling platform onboarding millions to Web3, announced last week that Unstoppable Domains, the world’s leading non-fungible token (NFT) domain naming service, is the latest to join the Polygon ecosystem.
By moving to Polygon, Unstoppable Domains users will be able to buy NFT domain names without having to pay claim fees, renewal fees, or gas fees.
With almost 1.5 million NFT domains registered, Unstoppable Domains is the most popular NFT domain naming service on web3, offering 10 NFT domain endings, including .crypto, .wallet, .nft, and .x. The .crypto domain remains the fastest growing and most popular domain with over 750,000 registrations.
Domains come to the Polygon network
These domains can be used to simplify crypto payments by replacing complicated wallet addresses with usernames – for example, brad.crypto or jennifer.wallet.
They also allow users to host decentralized websites and NFT galleries that can be uploaded to the InterPlanetary File System (IPFS), a peer-to-peer distributed file storing and sharing system.
In addition, their newly launched login product will allow domain names to be used as a decentralized login. This will make domain names and data portable across all apps, both traditional on web2 and decentralized on web3.
"One of our goals is to get a domain name in every wallet…on L1 [capacity is] sub million people. That's just not enough if we want everyone on the planet to have [a digital identity] using a NFT domain. So @0xPolygon was our next step"
—@matthewegouldhttps://t.co/XOAhYDl8cb— Unstoppable Domains | We're Hiring! (@unstoppableweb) October 22, 2021
Unlike other name services, Unstoppable doesn’t require renewal fees for the domains, as the user gets to own it forever instead of paying rental fees.
Now, thanks to the Polygon integration, all gas fees for Unstoppable Domains users will also be covered on Polygon’s full-stack scaling solution, ultimately making NFT domains free to mint and manage. Existing users will also be able to move their domains from Zilliqa and Ethereum to Polygon to manage their domains for free.
“Moving to Polygon was the logical next step for us to make NFT domains more accessible, especially at a time when Ethereum costs and speeds are becoming prohibitive,” explained Matthew Gould, Founder & CEO of Unstoppable Domains.
“We’ve already sold the highest number of NFT domains, and by integrating with Polygon, we expect this number to increase rapidly, ultimately facilitating more innovation in the NFT and DeFi space,” he added.
What more for Unstoppable Domains?
The integration means Unstoppable Domains users will have access to Polygon’s fast-growing ecosystem of more than 700+ wallets, exchanges, and dapps – including Opensea, MyEtherWallet, Huobi Wallet, imToken, Aavegotchi, and others.
Shreyansh Singh, Head of Polygon Studios, said: “With more and more apps building on Polygon, it was crucial for Unstoppable Domains to add more value to its NFT domain names. With no gas costs in the way and no barrier to Polygon’s massive ecosystem of apps, users looking to claim an NFT domain name have a much more attractive solution.”
Further, Polygon apps will resolve domains by reading smart contracts that are on Polygon. The Polygon team will also be adding domain resolution to their API and Matic.js library, making it easy for Polygon apps to use domains for payments in wallets and for logging in with dapps.
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Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities.