We have heard in recent months how NFTs (Non-fungible tokens) became very popular. Tweets, art and crypto-cats are getting sold as NFTs for very high prices. Blockchain domains are also playing an important role in this revolution of tokens.
RIF Name Service (RNS) is currently being used across the RIF ecosystem, including RIF Payments, RIF Storage and RIF Communications. RNS enables blockchain addresses of different networks to become human-readable.
RNS domains could also easily get tokenized, sold and exchanged. This enables a wide range of opportunities for people having RNS domains and subdomains linked to their cryptocurrency addresses.
What Are RNS Domains?
Handling blockchain addresses is usually a difficult task. We are handling very valuable data in a format that is not usually human-friendly. Indeed, we need to make sure that the addresses we use are correctly copied and pasted every time we want to make a payment.
With RNS domains, it is possible to simplify this process by using an alias. In this way, the probability of making errors when using digital assets gets reduced massively. Moreover, this solution provides a better user experience. Everything, however, works on the RSK blockchain.
Thus, blockchain domains are becoming increasingly useful for handling digital assets. Moreover, with solutions such as the RIF Marketplace, individuals can handle their domains in a fast and very easy way, reducing any possible friction there could be for non-technical users.
What are NFTs?
As we mentioned before, NFTs are non-fungible tokens that represent physical or digital things or assets. For example, an NFT could represent art, digital collectables or even blockchain domains. In recent days, even tweets have been sold as NFTs.
Compared to Bitcoin (BTC) or other cryptocurrencies, NFTs are non-fungible. That means that they are unique and there are no equal assets to the one you own. Digital art is the easiest and simplest representation of NFTs.
The most popular NFTs have been sold using the CryptoKitties platform. Back in 2017 with the crypto bull run, users started to buy and sell digital cats on the Ethereum (ETH) blockchain. These cats were ERC-721 tokens that were traded for very high prices.
How to Use RNS Manager From Mobile Wallets?
Now, you can handle your RNS domains using a mobile wallet. This is possible thanks to the recently announced integration with rLogin and WalletConnect. Users can easily register their RNS domains from their mobile phones.
In order to do so, users can register their RNS domain from their smartphones using D’CENT, Defiant, rWallet and others. In this way, users get simplified login subdomains from the main domain.
Furthermore, the blockchain domain search becomes easier than ever. There is no uppercase limitation and no need to unlock the wallet until the last step of the process. This might be a small UX improvement but it is certainly a very important thing in terms of simplification.
Now, users that want to search for their blockchain domain do not have to focus on the uppercase letters. They can use the whole name and the domain will appear. Moreover, there is also a huge improvement in terms of unlocking the wallet.
Before, users had to install a web3 wallet before understanding the details of each domain. This created some issues for users that didn’t know how to handle these domains or even crypto wallets. With the new improvement, non-crypto users and inexperienced interested individuals can have a look at price, years and different options available.
However, this is not all, there are many improvements on their way. Some of them include a better interface, nicer login and accounts popup and more.
RNS As NFTs
As we mentioned before, we are in a period in the cryptocurrency and blockchain markets in which NFTs became a hot topic. RNS domains are considered to be NFTs. Indeed, they were always there, but with the recent hype around NFTs, users started giving them value.
Users can use their RNS domains to receive digital assets, tokens, or even NFTs. In this way, other third-party companies, users and firms could get your information and data in just a few simple steps. Everything backed and protected by blockchain technology.
You can easily trade your RNS using the RIF marketplace. You can create, handle and own your information and also exchange your domain names. It is up to you how you use the domains and what you do with them. Indeed, these blockchain domains can be used as traditional NFTs and transfer ownership.
It is also worth mentioning that all the domains that are created with the FIFS Registrar or that have been migrated using the migrate form auction are ERC-721 compatible. The ERC-721 tokens are unique and non-fungible tokens that run on the Ethereum network.