Polygon continued its current scorching streak this week by saying the creation of .polygon domains. Similar to the wildly widespread Ethereum-based .eth domains, .polygon domains will simplify the person experiences for Polygon’s 180m+ prospects. What is a Web3 area and why are they necessary?
What is a Web3 area?
Web3 domains provide necessary quality-of-life enhancements for crypto customers. They permit us to navigate Web3 with easy-t0-remember public addresses, suppose evan.eth or nftbuyer.polygon, as a substitute of conventional public addresses made up of lengthy strings of randomized letters and numbers.
Perhaps most significantly, nevertheless, Web3 domains additionally assist us forge our digital identities. Crypto customers can use a .polgyon or .eth area to broadcast their affiliation with their favourite blockchain. In the method, we will help carve out a spot within the Web3 world to name our personal.
Not surprisingly, main manufacturers have invested enormous sums of cash to safe their Web3 domains. Most notably, the New England Patriots NFL franchise purchased patriots.eth for about $1m in Sept 2022 and crypto funding agency Paradigm paid over $1.5m for the rights to paradigm.eth in Oct 2021.
Image Credit: OpenSea.io
How will Polygon domains slot in?
Polygon is a layer 2 blockchain that sits on high of Ethereum. It permits for sooner, cheaper transactions whereas additionally making the most of the safety of the Ethereum community. Polygon has been a uncommon shiny spot throughout an in any other case down marketplace for cryptocurrencies. The India-based Web3 large lately introduced partnerships with Reddit, Starbucks, Disney, Mastercard, and lots of extra of the world’s greatest corporations to assist introduce them to the world of Web3.
Image Credit: Coindesk
Polygon is partnering with Unstoppable Domains, the Web3 firm named by Forbes as one in all America’s Best Startup Employers in 2022, to create .polygon digital identities. These domains can be utilized to entry Unstoppable Domains’ greater than 750 built-in apps, permitting a seamless login course of with out the necessity for passwords or hard-to-remember pockets addresses.
For the primary time, Polygon followers can exhibit their appreciation for the rapidly-growing Layer 2 blockchain by attaching a .polygon area to their Web3 persona. By doing so, they’ll additionally take pleasure in all the advantages that Web3 domains have to supply.
The sale will begin on March 16 and domains could be bought via Unstoppable Domains.
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