Many believe that NFTs are simply being used as profile pictures or displayed in virtual art galleries for vanity reasons. However, some NFTs can also have specific functions and give holders special rights. From decentralized domain name systems to check-in verification systems, NFTs can provide users with a silky experience and help developers ensure that the right participants get the rewards they deserve.
Imagine a decentralized domain name that improves the readability of blockchain addresses, instead of random strings, it is easier for users to share their blockchain addresses. Or creators release limited edition NFTs that unlock special perks like access to private groups or events. There are endless possibilities with these NFT-based.
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Ethereum Name Service (ENS)
ENS is an open, decentralized domain name system built on the Ethereum blockchain. The main goal of ENS is to map machine-readable identifiers, such as Ethereum addresses and Interplanetary File System (IPFS) hashes, into human-readable names.
For example, we mapped the Ethereum address 0x4Cdc86fa95Ec2704f0849825f1F8b077deeD8d39 to an ENS address coingecko.eth, making it easier for other users to remember and refer to a human-readable specific address rather than a long string of random characters.
ENS is similar to Internet domain names. likehttps://www.coingecko.com/maps to our server's IP address, and CoinGecko.eth maps to our Ethereum address.
ENS functions like a traditional Domain Name System (DNS), and owners of ENS.eth domains have full control over their subdomains. Since we have control over coingecko.eth, we can create new subdomains like buzz.coingecko.eth and configure them to our liking.
All ENS registries are ERC-721 compliant, meaning they are transferable NFTs. When domains are under your control, you can configure them with additional information such as URLs and social media links. As shown in the diagram below, ENS holders can configure wallet addresses including Bitcoin, Litecoin, or Dogecoin to receive currencies from other blockchains.
Ownership of ENS is not permanent as they need to be renewed after expiration. You can view expiration dates on your ENS account dashboard and even set reminders. The cost of registering a .eth domain name varies depending on the number of characters in the name. Since fewer names are available, shorter names are more expensive than longer names.
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How to register with ENS
step 1
go tohttps://app.ens.domains. Please make sure to connect your wallet to the Ethereum mainnet.
step 2"howtonft2021"。
step 2
If the name is not registrable, the domain name's expiration date will be displayed. If it is available for registration, it will be highlighted in green.
step 3
step 3
Select the number of years to register the ENS domain name.
step 4
step 4
Once you have selected your enrollment period, click"apply for registration"。
You will need to confirm the first of two transactions to complete your registration.
step 5
step 5
You need to wait 1 minute after the first transaction to make sure no one else is trying to register the exact same name.
register"register", to confirm the second transaction.
step 6
You have registered!
You can manage your ENS domains by accessing your account and selecting the associated name.
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Proof of Attendance Protocol (POAP)
POAP is an App that records the activities you participate in. For example, if you attended a concert, the physical ticket can be used as your proof of attendance. However, physical tickets can be misplaced and their proof lost forever.
Through POAPs, attendees receive a digital badge representing an NFT when participating in a particular event. Event organizers can gift POAP to attendees as a memento of their event attendance, further engaging their attendees and serving as a bridge to extend the relationship between event organizers and attendees.
Each POAP has a unique design representing an event. Organizers can also add features such as private chat rooms, sweepstakes, and even token airdrops to POAP holders to create a richer experience for attendees. Additionally, event organizers can ask attendees to vote on future events.
For collectors, this provides a way to bookmark their lived experiences. Each POAP collection will look very unique and different. POAPs are more than just a collection of badges. It provides a story that can be shared with others.
Collectors can meaningfully engage with others with similar interests from the POAPs they own by using the badge as verification to enter private chat channels.
The cost of minting POAP is low, because POAP NFT is issued on the xDai blockchain, xDai is an Ethereum sidechain, with fast transaction speed and low cost. Event organizers can decide the time frame when POAP can be claimed, and distribute POAP to those who have participated in the event through links or QR codes.
The only requirement to claim POAP is to participate in the event and use an Ethereum address to claim POAP. POAP will appear in the address collection and can be found inhttps://app.poap.xyzCheck it out. Below are guidelines for claiming POAP NFTs for each campaign.
step 1
Click on the link provided by the event.
step 2
Enter your Ethereum address into the box
click"Apply for POAP tokens"button
worthy of attention
Collab.Land
Collab.Land has a usage similar to POAPs. Owning the NFT in the collection can be used as a credential to enter the Telegram or Discord community with thresholds.
Handshake
Handshake is a decentralized naming protocol that auctions off top-level domains every two weeks. Users can participate in these auctions using their token HNS. The auction was conducted on Namebase, the registrar and exchange for Handshake.
Unstoppable Domains
in conclusion
in conclusion
As you can see from ENS and POAP, NFTs are definitely more useful than most people think. Its function is more than a domain name or as a fancy souvenir. Some projects, such as those that provide liquidity mining tools and analyticsAPY Vision, and even use NFT as a way to subscribe to more advanced services. As long as you own the NFT, rather than holding a fungible token, you get professional features for a fixed period.
We at CoinGecko also use NFTs as a form of verification into our CoinGecko Premium+ Telegram and Discord groups. Using the tools provided by Collab.Land, users holding these special NFTs can connect their wallets to verify ownership of their NFTs for access to our exclusive panel.
Outside of the crypto world, NFTs have many other real-world applications, such as movie and event tickets.
Recommended reading:
Recommended reading:
1、Step-by-Step Guide to Registering a .ETH Name:https://medium.com/the-ethereum-name-service/step-by-step- guide-to-registering-a-eth-name-on-the-new-ens-registrar- c07d3ab9d6a6
2、How and Why to Replace Your Ethereum Address with a User- Friendly Name:https://blog.makerdao.com/how-and-why-to-replace-your- ethereum-address-with-a-user-friendly-name/
3、POAPs: What are they and how to collect NFT attendance badges:https://nftevening.com/poaps-all-you-need-to-know-about-nft- badges/
4、NFTs will change everything we know about subscriptions, membership, licensing:https://mattgalligan.com/membership-nfts/
By Benjamin Hor, Khor Win Win, Shaun Paul Lee, Dillon Yap, Chin Yi Hong
Published by: CoinGecko
Compilation: Bibabu
