San Francisco-based company building blockchain-based domains, Unstoppable Domains, recently sold its most expensive domain name for $100,000. The domain was sold as a non-fungible token (NFT), adding to a growing list of record-breaking NFT sales.
Recently, there has been a tremendous rise in NFT sales. Data provided by Unstoppable Domains shows that NFT sales jumped 400% in February over sales recorded in the previous month.
The sale, which occurred on the 3rd of March, represents one of the several huge NFT sales across various sectors. Additionally, Unstoppable Domains launched 94 sports and gaming NFTs for public sale. The gaming and sports NFTs included domain name NFTs “win.crypto”, “baseball. crypto” and gambling.crypto.” The co-founder of Unstoppable Domains, Brad Kam, commented on the expansion of the NFT market.
“The NFT market is experiencing unprecedented growth, and is drawing more attention to the space. While most people assume NFTs are digital art, the reality is there are a substantial number of NFT use cases that don’t center around art – like domain names.”
Kam added that these domain names could accommodate decentralized websites just like .com names. He also said that domain name NFTs could also replace complicated crypto wallet addresses with a human-readable name. The integration of domain names to crypto wallet addresses would make payments easier and faster.
Image Credits: Pixabay
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