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What am I missing? 500USD registration fee, but it's hosted on eth and is an nft. Couldn't it just be 0.0000001? What's stopping someone else to spawn .forever2

• LanternLight83 4y ago
  As far as I'm aware, this is the first domain name registration and resolution system without renewal fees, and hence, by tying the concept of ownership (not just theoretically, but practicality) to an NTF, this is the first system under which you /own/ (rather than lease) your domain. No one can take it from you, you don't need to remember to pay your rent on it, and you can give it away or sell it freely in a decentralized manner however you see fit. You don't even have to pay gas fees to give it away if you fund a dedicated wallet, the keys are the deed to the domain, though fees may still need paid to update it or transfer ownership to another wallet, haven't looked into the details. At least those fees don't go to an arbitrary corp, but into the ecosystem that allows this platform to exist with the virtues and ideals that it prioritizes, which might not otherwise be possible.
  • snotrockets 4y ago
    You don't own a domain, you have an object on that blockchain. There is no gurantee to what that domain name would be resolved to - or rather, since their TLD isn't in the common root, for most it won't resolve at all.