MoonPay Improves User Experience on NFT Domains
According to Ivan Soto-Wright, co-founder and CEO of MoonPay, the partnership improves a user’s experience at the end of their journey by substituting complicated characters with NFT domains.
In order to implement nonfungible token (NFT) domains for use in transactions on the platform, Unstoppable Domains has formed a partnership with the cryptocurrency payment company MoonPay. As a result of the collaboration, users of MoonPay will no longer be required to enter their lengthy and convoluted wallet addresses when sending and receiving digital assets; instead, they can do so using their domain names.
Ivan Soto-Wright, the co-founder of MoonPay and the CEO of the company, stated in an announcement that was sent to Cointelegraph that the partnership would make it simpler for individuals to enter the world of Web3.
Unstoppable Domains and Moonpay aims to make Web3 Integration easier
According to Soto-Wright, Unstoppable Domains improves the end of a user’s journey by getting rid of complicated characters and replacing them with customizable NFT domains. MoonPay focuses on the front end of the process, while Unstoppable Domains focuses on the back end.
Sandy Carter, an executive at Unstoppable Domains, also offered her thoughts on the partnership, stating that it will make Web3 easier to use. Carter is of the opinion that users of cryptocurrencies of all experience levels, including novices, will benefit from the streamlined experience that will be brought about as a direct result of the collaboration.
In addition to processing financial transactions, the NFT domains can also serve as a sign-in mechanism for decentralized applications (DApps), digital wallets, and cryptocurrency exchanges. Users are also given the ability to select the data to which they will grant access to third-party websites and applications.
Demand for NFT Domains continue to rise
In the meantime, demand for NFT domains is showing no signs of slowing down. At the beginning of the month of July, the number of registrations for the Ethereum Name Service increased by a factor of two hundred. The excitement surrounding the second-largest sale of an.eth domain, which occurred when “000.eth” was purchased for 300 Ether (ETH), which had a value of approximately $300,000 at the time of the transaction, was the primary factor in the rise in the number of new registrations.
In more recent news, Ethereum co-founder Vitalik Buterin responded to critics who questioned the proof-of-stake (PoS) consensus amid the impending Merge of the smart contract platform. Buterin, who offered a rebuttal on PoS voting, asserted that most of the arguments advanced by detractors are founded on outright lies.