1 year ago
The DEX aggregator said the concern would beforehand wider adoption of DeFi and Web3 products and services.
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Decentralized speech aggregator 1inch has partnered with Unstoppable Domains to assistance users simplify cryptocurrency payments — a determination the institution says could fortify wider adoption of DeFi products and services.
Under the partnership, 1inch wallet users tin participate “human-readable domain names” erstwhile sending crypto payments utilizing Unstoppable’s naming service. This allows users to usage customizable domain names alternatively of lengthy alphameric crypto wallet addresses. Like each Unstoppable Domains addresses, the wallet code volition beryllium minted connected the blockchain arsenic a nonfungible token (NFT), with nary further minting oregon renewal fees.
Sergej Kunz, 1inch Network’s co-founder, said the Unstoppable Domains concern could beforehand wider adoption of Web3 products and tools. “The issues of idiosyncratic experience, information and individuality are inactive holding backmost Web3 mainstream adoption,” helium said, adding that the concern “opens up opportunities for overcoming these barriers by making Web3 onboarding much amusive and attractive.”
NFT domains level Unstoppable gets $65 cardinal successful a backing round.
The level confirmed it volition put the wealth successful merchandise innovation and maturation wrong Web3. https://t.co/4wvILOF8oW
As of July, Unstoppable Domains had registered 2.5 cardinal domains and integrated with implicit 150 Web3 applications. The 1inch integration adds to a increasing database of implicit 80 wallets and exchanges supported by the NFT naming service.
Related: MoonPay to marque Web3 payments with Unstoppable Domains partnership
Unstoppable’s valuation ballooned to $1 cardinal this twelvemonth aft the institution raised $65 cardinal successful a Series A backing round. Unstoppable’s maturation has occurred successful lockstep with the NFT boom, highlighting the popularity of integer individuality profiles. Ethereum Naming Services (ENS), an Unstoppable competitor, has besides seen a surge successful request with nearly 2 cardinal domain registrations arsenic of August. By the extremity of September, that fig had risen above 2.6 million.
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