Another company is entering the blockchain domain game – Domain Name Wire
Where have I seen this idea before?
Another group throws its hat in the ring to come up with blockchain-based domain names.
Quik launches 10 alt-root domain name extensions, including .metaverse, .vr, .chain, .address, .i, .bored, .dog, .shib, .btc, and .web3.
The company’s model most closely resembles Unstoppable Domains, which offers domains ending in extensions such as .crypto, .bitcoin, and .x.
The domains of Quik and Unstoppable do not overlap, although nothing prevents either company from offering identical top-level domains.
After reading the Quik whitepaper, I don’t understand why anyone would register these domains.
The white paper (pdf) states:
These NFT domains are not part of ICANN and traditional DNS and should never be compared to a traditional domain name.
So why call them domains? And why say they have similar uses, such as for use with websites?
For a Quik domain to resolve or connect to a wallet, users will need to download a browser extension or browser that does not yet exist.
Oh, and people in the US can’t buy the domains, according to the Quik whitepaper.
Besides Quik and Unstoppable Domains, the other major blockchain domain systems are Ethereum Name Service and Handshake. Both suffer from significant drawbacks that will make adoption difficult. They also don’t seem to offer much that existing “real” domains don’t.
These domainless domains therefore have many disadvantages but few advantages. It seems the main reason people buy these domains is because they think they can sell them to someone else for more money who thinks they can sell them to someone else for more of money who thinks they will be able to sell them to someone else for more money…