Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

1inch wallet users receive domain names through Unstoppable Domains cooperation


In an effort to make bitcoin purchases simpler for customers, decentralised exchange aggregator 1inch has teamed up with Unstoppable Domains. According to the business, this move could encourage more people to use decentralised finance (DeFi) goods and services.

As part of the collaboration, users of the 1inch wallet can transmit cryptocurrency payments utilising Unstoppable’s naming service by entering “human-readable domain names.” Users can now use domain names that they can customise rather than long alphanumeric crypto wallet addresses. The wallet address will be created on the blockchain as a nonfungible token (NFT), just like all other Unstoppable Domains addresses, with no additional minting or renewal fees.

The cooperation with Unstoppable Domains, according to 1inch Network co-founder Sergej Kunz, could encourage more people to use Web3 technologies and products.“The issues of user experience, security and identity are still holding back Web3 mainstream adoption,” he said, adding that the partnership “opens up opportunities for overcoming these barriers by making Web3 onboarding more fun and attractive.”

Unstoppable Domains had 2.5 million domains registered as of July and integrated with more than 150 Web3 programmes. The NFT naming service now supports over 80 wallets and exchanges, and the 1inch integration expands that number.

After raising $65 million in a Series A investment round this year, Unstoppable’s valuation soared to $1 billion. Unstoppable’s expansion has coincided with the NFT boom, demonstrating the appeal of online identity profiles. A rival of Unstoppable, Ethereum Naming Services, has also experienced a rise in demand, with roughly 2 million domain registrations as of August. That number increased to almost 2.6 million by the end of September.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *