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.NFT Net Area Extension Scooped Up for Report $84Ok by Kenetic’s Jehan Chu – Bitcoin Information

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Jehan Chu, who owns 1,300 handshake domains, can issue an unlimited number of subdomains under the .NFT extension.

The previous owner bought an extension for less than $ 600

Amid the rally in major cryptocurrencies like Bitcoin and Ethereum, non-fungible tokens (NFT) have seen an explosion of interest, which is confirmed by Hash masks‘recent funding campaign, the increased 7,600 ETH in exchange for over 15,300 digital trading cards.

Non-fungible tokens, which are actually unique tokens designed to represent a single digital or physical asset, have become the gold standard for mapping blockchain ownership to digital art and other collectibles.

To capitalize on the growing interest in these tokens and the continuous research into their capabilities in other areas such as finance and culture, Kenetic is Founder and Managing Partner Jehan Chu spent a record $ 84,000This is the equivalent of approximately 680,000 HNS (handshake) tokens to purchase the .NFT web domain extension.

The acquisition effectively enables Chu, who reportedly has more than amassed 1,300 handshake domainsto output an unlimited number of subdomains under the .NFT extension using the handshake blockchain. The booming market that these tokens have spawned underscores the potential that Chu sees for the future of NFT.

According to Chu:

After my training at Sotheby’s and for 15 years as an art collector, I believe that NFTs are the real missing link between online and offline objects and that they will change not only art, but also economy, finance, society and culture.

In addition to his transactions in the domain arena, Chu has been an active participant and advocate of the space after helping organize the NFT sale of Robert Alice’s artwork with the large auction house Christie’s. In addition, in 2018 he orchestrated the first global NFT conference entitled “Nifty”.

The transaction with Chu is mediated by the domain registrar marketplace Nambase.io involved was the first buyer Ryan Ramirez, who initially Bid 8,602 HNS for renewal. He won the expansion’s auction, paying the next higher bid of 4,096 (approximately $ 592 at time of publication).

handshake, which serves as a registration protocol for decentralized domains and uses a blockchain to prove work, makes top-level domain names available on a permanent basis instead of the annual rental fees common in today’s web environment. This service also allows users to own domain extensions, as is the case with the .NFT extension purchased from Chu.

The advantages include additional transparency when bidding on domains, a more comprehensive focus on data protection, better information security and censorship-resistant properties. The latest record price for a handshake domain follows a number of other record sales in recent months after the .wallet extension sold for 350,000 HNS. Although Handshake is handling its first auctions, Namebase.io is the only marketplace that currently facilitates trading in these domains.

“An uncensored NFT domain on Handshake is an invaluable asset and platform for the future of art and intellectual property,” concludes Chu. “The possibilities of the NFT domain are endless, from decentralized NFT galleries to making NFT branded subdomains such as art.nft and crypto.nft available for rent or sale.”

What do you think of buying the domain extension? Let us know what you think on this matter in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons, Origin Protocol YouTube Channel

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.

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