NFT-Based Domain Trading Platform Cloudname Announces IDO on Polkabridge

Time Stamp: February 15, 2022 7:38 AM
Source Node: 1175791

NFT-2

The non-fungible technology is a revolution in its own right, as it is bringing a change in so many industries. Though most commonly associated with the art world, it isn’t limited to it alone. After all, NFTs are influencing other industries as well. For example, the leading hip-hop star Nas recently gave away royalty of two of his songs through NFTs. Such a creative use case proves that NFTs have vast applications. Now the question is, which industries are we talking about here?

The sectors where the non-fungible technology is making its presence felt include real estate, music, gaming, consumer & luxury goods, among others. Real estate, for one, is a major industry where NFT technology is finding its application, leading to an increase in demand for NFT-powered fractional ownership real estate platforms.

Now, it’s time for domain trading, as Cloudname, which is soon going to hold an IDO on PolkaBridge, is bringing the game-changing technology to this growing market. Considering that there are over 400 million domains, resulting in a potential economic value of over $200 billion, the domain trading space is ripe for NFT-led disruption led by Cloudname in the driving seat. So, let’s look at what Cloudname has to offer to the crypto world.

Supercharged Domain Trading Experience

Domain traders, so far, have been neglected by the emerging blockchain space. Though blockchain-based domain providers have entered the market in recent times, they mostly target the user base looking to register a block-based domain to sell their products & services in crypto & accept crypto payments. They do not provide any specialized features catering to the needs of domain traders, as there is no trading functionality on these platforms.

Well, it is about to change, as Cloudname is bringing the power of blockchain technology to domain trading, essentially supercharging this space. It is the first of its kind one-in-all domain trading platform offering both blockchain & traditional domain trading opportunities.

If you are a domain owner that wants to trade their domain through Cloudname, all you need to do is tokenize your domain name into an ERC-20 token through the platform and start trading right away.

Cloudname Features

Davide Vicini, Cloudname’s CEO, sums up Cloudname as “a contemporary blend of innovation, digitization, and investment that will bring untapped opportunities to the masses interested in exploring the world of domain trading.”

At Cloudname, traders can access features like tokenization, renting, an intuitive & straightforward way to create a personal portfolio, trend spotting, live pricing tracker, and market data & statistics tracker.

Tokenization and fractionalization

The tokenization feature of Cloudname allows domain traders to create non-fungible tokens for their domains, and all it takes to do so is just a couple of clicks. With this feature, traders can benefit from the domain fractionalization. Here’s how it will work:

Let’s say you own a domain, which according to you, has a valuation of $50,000, as it is an in-demand domain. Selling at $50,000 at one go can be a bit difficult initially & may take a considerable time to find a buyer. But with Cloudname’s tokenization feature, you can create 100 tokens of $500 each, which makes selling a domain easier. The buyers of these tokens will now benefit from any price appreciation in the future and earn a profit on their investment.

Renting

If you believe that your domain name is worth hundreds of thousands of dollars and want to continue holding on to it for a long time, you will benefit from Cloudname’s renting feature. Such a proposition will also benefit users who want to use in-demand domains for their business websites. So, overall it is a win-win situation for both.

Live Pricing & Market Statistics Tracker

Cloudname offers various trackers to help its users be up-to-date about available domains for sale and their prices. To do so, Cloudname has integrated over 20 APIs into its platform. Along with this, Cloudname also shows relevant data & statistics regarding your domain and provides predictions about its valuation over time.

Personal Portfolio

With Cloudname, you can actively manage your investments in a simple and intuitive interface to grow your domain portfolio.

Bringing Domain Trading to Mainstream

Domain trading, though lucrative, hasn’t become a part of the mainstream financial investment space yet because of a variety of factors, which includes lack of tools & education today. With Cloudname taking it upon itself to bring the change in the industry, we may see more & more users enter to benefit from this emerging alternative investment industry. Do you want to become a part of this revolution? You can take part in the upcoming IDO that Cloudname is holding on PolkaBridge. So, be on the lookout for it.

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