Unstoppable Domains, a Blockchain domain name company, has found a solution to do away with the gas fees for minting NFT domain names. The ENS drop, which we spoke about previously, piqued everyone's interest to get a domain for themselves, but it didn't last long as customers were disappointed by seeing high gas fees. "Gas" on Ethereum refers to the variable cost of making any transaction on the network and can often get expensive.
Solution? Unstoppable will no longer charge customer gas fees to mint an NFT domain. They are moving from a blockchain called Zilliqa to Polygon, a layer-2 scaling solution for Ethereum that can speed up transactions and reduce fees. It is also called "the eco-friendly blockchain scaling Ethereum." The gas fees on the platform were as high as $100 before, but now will get reduced substantially
Domain NFTs? Unlike other NFTs, which are often associated with arts such as images, gifs, or short videos, NFT domain names are simply web domain names that exist on a blockchain. It gives you complete ownership. These domains also serve the dual purpose of providing short and easy-to-remember crypto wallet addresses, much like the ".eth" names provided by the Ethereum Name Service.
The company claims that more than 1.5 million NFT domain names have been registered through service since 2018. The company allows users to purchase domain names ending in .crypto, .nft, .bitcoin, .dao and .blockchain, to name a few. By the end of the month, users will be able to set up domains on Polygon with their cryptocurrency addresses as well as add other features like NFT galleries and social media links