December 5, 2022
As simplified wallet addresses become more popular within the blockchain space, KEY3.ida distributed, open and extensible naming system based on the Ethereum blockchain is proud to announce that .bayc and other blue-chip NFT bound domain names are now supported by BitKeep Wallet.
Users who possess .bayc, .mfer,.doodle and other blue-chip NFT bound domain names can now use it to access 70 different mainchains, with over 220,000 different cryptocurrency assets and to store and manage NFTs.
KEY3.id is currently working with dozens of blue-chip NFT communities, such as BAYC, Azuki, Clone X, Doodles, Mfers, Mimic Shhans and Moonbirds, launching a voting campaign, and will officially go live on December 5, 2022, at 04:00 UTC.
Blue-chip NFT holders will be able to vote for their favorite DID suffix. The campaign will last for 10 weeks.
DID as an infrastructure is a new paradigm shifting into a new network ecosystem built around new standards and technologies. DIDs are used to resolve and point to individual wallet addresses.
It simplifies the usual 42-word alphanumerical address and can be used in many occasions, such as to send and receive funds, transfer tokens or NFTs, and use as an ID, social networking, GameFi and other Web3 scenarios.
With the widespread adoption of DID, personal data will not be locked into a single ecosystem or a single entity, and DID will bring more value to the internet economy.
Kory Pak, CEO of KEY3.id, said,
“Partnering up with BitKeep Wallet is a necessary step in creating a more open financial system for the world. KEY3.id’s blue-chip NFT bound domain names such as .bayc use the (ABT) asset bound token concept that brings more value to NFT holders.
This means, from now on, there is another level of proof added to your NFT that can show you are the true holder of this blue-chip NFT.”
Pak argued that users can benefit from having a blue-chip NFT DID in terms of building a foundation for their online identity through ABT.
ABT can recognize the NFTs in your wallet, so it ensures the reliability of your DID and truly represents asset as your DID (asset as identity). For example, only the true holder of BAYC#0000 can mint for 0000.bayc.
The domain name is use-only and not transferable. Once the NFT is traded, the corresponding DID will also be destroyed, ushering in the era of asset as your identity.
The launch of .bayc immediately generated mass buzz and followers in the BAYC community, including some of Web 3.0’s most famous influencers. Game Space CEO Michael Cameron minted 6669.bayc and changed his Twitter name to ‘Michael Cameron 6669.bayc.’ Former Huobi Global CEO 0xLivio minted 2883.bayc and also changed his Twitter name accordingly.
The popularity of DID still shows a rise in growth even in the bear market. This month, ENS domain names have surpassed 430,000 registrations, making a new record high. In addition, the total number of ENS participating addresses stands at 599,171, bringing the total number of ENS domain names to date to 2,763,252 users.
A total of 2.7 million means still great room for development and brings back to the argument of the value of blue-chip NFT bound domain names
The vast majority of NFT PFP collections are numbered, especially those of blue-chip NFT items such as BAYC, Azuki, Clone X and Moonbirdsand there is only a fixed supply of 10,000 four-digit premium domain names. Hence, asset as your DID are not only rare but also worth collecting.
At this stage, .bayc and other blue-chip NFT premium domain names already have support from BitKeep Wallet and Game Space app.
Soon it will align partnership with KuCoin Wallet, iToken Wallet, Bybit, Coinhub Wallet, ONTO Wallet, Assure Wallet, Element.market and other industry-leading wallets, DeFi, exchanges, DAO organizations, NFT communities and more to build an organic network for the DID sector.
The KEY3.id is a distributed, open and extensible naming system based on the Ethereum blockchain. .Did is the first DID launched by KEY3.id, aimed to provide users free with decentralized identity in Web 3.0 with the features of ‘free to claim,’ ‘free to renew’ and ‘free forever.’
KEY3.id also supports the DIDs of 20 other blue-chip NFT bound domain names, including .bayc, .mfer, .mimic, .doodle, .moonbird and more.