Would you buy a Domain Name Extension as NFT?

W

As of 02/04/2021

The trend of NFT has gripped everyone around the world. From blogs to vlogs to memes to even Saturday Night Live, everyone has been buzzing about this new phenomenon. But this new sensation, that had been originally intended to cater to Digital Art sector has entered the Domain Name Market arena as well.

As reported by Morgan Linton Uni, previously known as Uniregistry, is going to auction gTLDs as NFT. Yeah, you heard that right. You can now get a Domain Name Extension as NFT! Also, the auction is going to be open for anyone and there won’t be any reservations. Uni, which has 25 ICANN approved gTLD under its ambit is going to auction 23 of them as NFT.

NFTs stand for Non-Fungible Token. Non Fungible means that which cannot be exchanged. This essentially means that every NFT is unique and distinguishable from other, unlike digital currencies. This is meant to give ownership of any digital artwork, be it a photo, song or a video. Although it must be mentioned that ownership here does not include the intellectual and creative rights of the artist.

Recently a tweet being sold millions made the headlines. This was topped by a Beeple artwork being sold for a whooping $ 69.3 Million. Now even The Weekend is selling its songs as NFT.
Clearly NFT is making long strides and its steps have landed on the Domain Name Sector as well.

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