Unstoppable Domains Expands Web3 Offerings with Introduction of .eth Addresses
Unstoppable Domains, a Web3 company, has announced that users on its platform can now purchase the popular domain extension .eth. Unstoppable Domains allows users to translate their cryptocurrency wallet addresses into usernames using domain extensions. The company already offers domain endings such as .crypto, .nft, .polygon, .blockchain, and .bitcoin. The addition of .eth is an integration of the Ethereum Name Service (ENS), which operates through a decentralized autonomous organization (DAO). Unstoppable Domains is not the only company to offer .eth domain extensions, as several others have already done so in the space.
To create a username for a cryptocurrency wallet, Unstoppable Domains puts a non-fungible token (NFT) on the blockchain and adds a permanent entry in a decentralized database. This assigns a unique username, such as fortunereporter.eth, to a combination of letters and numbers. The CEO of Unstoppable Domains, Matthew Gould, believes that these NFT-recorded usernames or credentials have the potential to go beyond simplifying crypto transactions. He envisions them being used as digital identity credentials.
Unstoppable Domains currently supports the Polygon, Ethereum, and Zilliqa blockchains, but Gould has expressed interest in expanding to support other Web3 domain registries. He hopes to be the go-to platform for managing all Web3 domains and is open to supporting any domain registry that has a community around it.
By offering domain extensions as usernames, Unstoppable Domains aims to streamline the process of sending and receiving cryptocurrency. Instead of typing in complex alphanumeric addresses, users can simply input usernames with domain extensions. This makes transactions more user-friendly and accessible. The addition of the .eth extension to Unstoppable Domains’ list of domain endings further solidifies the company’s position in the Web3 space. With a valuation of $1 billion, Unstoppable Domains is a leading player in the industry.