Create your own Web3 address that’s unique to you
Blockchain domains are useful because these name services allow users to identify a wallet through a regular word instead of a complex string of letters and numbers. On every blockchain there are services that allow people to buy user names, nurturing a system of online identities and a market for trading these popular assets.
What are blockchain domain names?
Blockchain domain names are addresses used for sending and receiving cryptocurrency, similar to email addresses. They are stored on a public ledger, accessible to anyone, and secured through a smart contract. An example would be dappradar.eth.
You can use these domain names as your username across various blockchain applications, metaverse worlds and other dapps. These domain names exist on the blockchain as NFTs, and users can trade them on marketplaces such as OpenSea, Magic Eden or others.
Users need to store their domain name in their wallet, and then adjust the settings of their user name through the domain name service. This will allow users to connect their domain name to any wallet they want, in some cases to multiple wallets across various blockchains.
What are the most popular Web3 domain name extensions?
The most popular domain name extension is .eth, followed by .crypto. Every blockchain ecosystem has its own domain name extensions, often controlled by one company or DAO.
Is a Web3 domain name free?
No, you need to pay for a Web3 domain name. Depending on the domain name service you either pay a one-time fee, or you pay a rental for one or multiple years. In addition, buyers need to cover for the gas fees, which can be relatively high depending on the blockchain ecosystem you’re working with.
What’s the most expensive Web3 domain name NFT?
The most expensive Ethereum Name Service .eth domain name ever sold on the open market, would be 000.eth for 300 ETH or $316,980 at the time of the sale on 3 July 2022.
How much for a Web3 domain name?
You will pay at least $5 and additional gas fees for a domain name. Depending on the domain name service, the type of name you want and the blockchain you’re operating on, prices will increase. Buying “mynameisdappradar” comes with the following prices:
- mynameisdappradar.crypto – $40 (Unstoppable Domains)
- mynameisdappradar.wallet – $20 (Unstoppable Domains)
- mynameisdappradar.eth (1 year) – $34 (ENS Domains)
- mynameisdappradar.eth (5 years) – $55 (ENS Domains)
- mynameisdappradar.bnb (1 year) – $5 (Space ID)
What are the best domain names?
The best domain names are the ones you identify with the strongest. You can for example use your nickname, or maybe a combination of your name and surname. Traders also tend to buy user names with potential high demand, such as casino.eth or games.crypto.
How to get Web3 domain names?
The process of registering a blockchain domain name is usually quite simple, but can be more complex depending on the blockchain. For example, obtaining an ENS domain name requires holding ether (ETH), finding a free name, and securing it through the registrar Ethereum Name Service. Once secured, the domain name NFT must be minted, which involves gas fees.
Where to buy Web3 domain names?
You can buy Web3 domain names from the official website of a name service. In addition, users tend to trade their NFT domain names on marketplaces such as OpenSea and Magic Eden. Learn more about the most popular domain name services below.
ENS Domains
ENS Domains are by far the most well-known and widely traded of the Web3 domain names, ending with the abbrevation .eth. Ethereum Name Service is a decentralized organization that converts long, complex Ethereum blockchain addresses into shorter, more easily readable human-friendly addresses. That way “DappRadar.eth” represents a complex wallet address. DappRadar has integrated the ENS Domains collection into its platform, meaning you can log in using your ENS instead of your long wallet address. And of course, we have all the data you need to know when you’re deciding which name to buy.
Unstoppable Domains
Unstoppable Domains has been developed to bridge the gap between Web2 and Web3. It does this by offering users the chance to own their own domain names on the Polygon blockchain. These domains, such as DappRadar.crypto or DappRadar.zil, act as a link between a complex and long cryptocurrency wallet address, and a more easily readable name. This makes it easier for more people to connect with decentralized apps and exchanges. Through Unstoppable Domains you can buy .eth domains, in partnership with the above mentioned ENS Domains. But the platforms also offers .crypto, .nft, .wallet, .dao, .blockchain, .bitcoin and .888.
Sats Names
The decentralized domain name service on Bitcoin Sats Name System has gained popularity with the rise of Bitcoin Ordinals. Using Bitcoin Ordinals, Sats names are BRC-20 NFTs built and supported by the Bitcoin community. In June 2023, after only 90 days of existence, more than 250,000 .sats names had been inscribed on the Bitcoin network, and 120,000 more with namespaces such as .btc and .ord.
SPACE ID
SPACE ID is a universal name service network that built on Binance Smart Chain. It aims to connect individuals, information, assets, and applications in the digital world in a seamless way. SPACE ID is chain-agnostic, meaning it is not limited to a specific blockchain.
NEAR Names
NEAR Names are the NEAR blockchain’s version of Web3 domain names. As with all blockchain domain names, think of them as personal web addresses, built on the NEAR Protocol. You can use them to make your smart contract or public key on the NEAR blockchain more human-readable. They’re helpful for creating websites, accessing decentralized apps, and linking to your crypto wallet.
Tezos Domains
Tezos Domains is an open and distributed naming system that uses the Tezos blockchain. Tezos names are FA2-compliant NFTs, which means that you own and control them. They are stored securely in your wallet and only you can manage and move them. This is similar to how you store and manage cryptocurrencies in your wallet.
EDNS Domains
EDNS, or Ether Domain Name Services, went live on 12 April 2023 and hosts its user names on the Polygon blockchain. Out of the listed domain names services, EDNS is probably the least popular one.
Hashgraph.Name
Hashgraph.Name is a domain name service on the Hedera Public Network, enabling users to create custom Hedera account handles. It aims to simplify interactions within the Hedera ecosystem and the wider Web3 environment by replacing numerical account IDs with user-chosen names. This service is part of BCW Group’s Hedera infrastructural offerings, which also include Hashport & Arkhia.
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Useful links
- Domain and Username NFTs latest news and articles
- What are Non-Fungible Tokens, or NFTs?
- ENS: Ethereum Name Service NFT Collection
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