DNS domains (aka .com, .io, .net, .org, etc.) are now being listed for sale on OpenSea. Although many people associate NFTs with digital images, just about anything can be tokenized. One such example being put into practice right now is domain names. Thanks to a new tech-friendly domain name registrar named 3DNS, anyone can tokenize their domain names and turn them into real genuine NFTs. That means the domain name goes from being a centralized digital asset that requires multiple layers of human manual labor in order to approve and conduct transfers to being a decentralized digital asset that can be traded, sold, and transferred instantly over the blockchain.
3DNS has been rolling out the technology in stages. As an early beta tester, I was lucky enough to become the first person to transfer a domain name on-chain. The owner of the NFT is the owner of the domain name. When the NFT changes hands, all the new owner needs to do is connect to 3DNS with their wallet where they can update the WHOIS info, DNS records, etc.
It’s pretty simple and there’s no catch. While there are other domain name registrars developing similar capabilities, 3DNS appears to be the first to have put it into production in the wild. I have both transferred a domain on-chain and listed one for sale. It relies on Optimism, an Ethereum Layer 2, as its blockchain. That keeps the cost of transacting way down while still getting the benefits of Ethereum.
Did you ever think you would see a .com domain on OpenSea? Well, now you have.
Buying one would make you the owner of it instantly. No need to wait days like one would normally have to in the off-chain universe.