Where have I seen this idea before?
Another group is throwing its hat into the ring to offer blockchain-based domain names.
Quik is launching 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.
Quik and Unstoppable’s domains don’t overlap, although nothing is preventing either company from offering identical top level domains.
After reading Quik’s whitepaper, it’s unclear to me why anyone would register these domains.
The whitepaper (pdf) states:
These NFT domains are not part of ICANN and traditional DNS and shall never be compared to a traditional domain name.
So why call them domains? And why say they have some similar uses, such as for use with websites?
In order for a Quik domain to resolve or connect to a wallet, users will have to download a browser extension or browser that doesn’t exist yet.
Oh, and people in the United States can’t buy the domains, according to Quik’s whitepaper.
In addition to 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 provide.
So these non-domain domains come with lots of drawbacks but little upside. It seems that the main reason people are buying these domains is that they think they’ll be able to sell them to someone else for more money who thinks they’ll be able to sell them to someone else for more money who thinks they’ll be able to sell them to someone else for more money…