At first I thought blockchain domains were just like every other new extension: A cash grab. A pump and dump. Turns out I was wrong. Blockchain domains are an entirely new thing. A re-imagining of traditional domains if you will. How are they different? Well, let me give you a basic rundown:
They’re decentralized, meaning once you buy them, you own them and control them outright. Once a blockchain domain is linked to your digital wallet, it’s yours – forever. Oh, and there aren’t any renewal fees. It’s a one and done kind of thing. So that’s interesting.. And they’re anonymous by default. No paying for privacy. Also, you can have crypto sent directly to your domain name rather than the standard (and impossible to remember) 26-35 character crypto addresses. Apparently you can develop on these domains too. But you’ll need a special browser extension or blockchain friendly browser to actually view the websites. Also, Google doesn’t index blockchain sites (yet).
Whether blockchain domains have staying power or not remains to be seen. For the moment, however, there’s a large and growing market for them. If you’re into crypto, you’ll probably end up owning at least one..
Want to learn more? Check out UnstoppableDomains. They’re essentially a blockchain domain registrar. There are 9 extensions to choose from at the moment, including .x, .wallet, and .crypto (.blockchain is coming soon). They also have a premium section with domains ranging in price from a few grand to $50k. I don’t know if I’m ready to dive into the blockchain domain pool yet, but I’m thinking about dipping my toe in..