How To Name A Crypto Wallet With An NFT Domain
Web3 is still undergoing the same evolution the internet did in its early years, and giving a crypto wallet a human-readable name is an important evolutionary step. The convergence of blockchain, metaverse, and the internet forms "Web3", the third generation of the internet, and two fundamental pieces of Web3 are crypto wallets and NFTs. Usually, when people hear about non-fungible tokens or NFTs, they think of an overpriced JPEG image that someone wasted a lot of money on, but NFTs can be more than that. "NFT domains" are specialized NFTs that give crypto wallets a human-readable name, correcting a massive user-experience issue that Web3 still suffers from.
A crypto wallet is an account on a blockchain network identified by its "public address", which is usually a 40-digit hexadecimal number that only a machine can remember. When sending crypto/NFTs to someone, copy-pasting their public address is the only practical way to ensure the tokens don't go to the wrong address. Getting a recipient's address correct is extremely important, as copying the wrong address (or changing a single digit) will result in a permanent loss of funds. Worse, because these addresses look very similar to human eyes, it makes crypto phishing attacks and mistakes an easier occurrence. That's where NFT domains come in to make Web3 easier and safer.
Related: Does Web 3.0 Already Exist? Understanding The Timeline
With an NFT domain, NFTs and cryptocurrency can be sent to a human-readable username instead of copy-pasting the recipient's public address. Instead of a JPEG image, the NFT represents a domain name, like "screenrant.eth," which has functional use and value. The two biggest services that create and sell NFT domains are Ethereum Name
Read more on screenrant.com
