Ivan Soto-Wright, the co-founder and CEO of MoonPay said the partnership enhances the tail-end of a user's journey by replacing complex characters with NFT domains.
Unstoppable Domains has partnered with crypto payment firm MoonPay to incorporate nonfungible token (NFT) domains in transactions within the platform. With the collaboration, MoonPay users can send and receive digital assets using their domain names, eliminating the need to enter long and complicated wallet addresses.
In an announcement sent to Cointelegraph, Ivan Soto-Wright, the co-founder and CEO of MoonPay, said that the partnership would make it easier for people to come into the Web3 world.
According to Soto-Wright, while MoonPay deals with the front-end, Unstoppable Domains enhances the tail-end of a user's journey by removing the complex characters and replacing them with customizable NFT domains.
Sandy Carter, an executive at Unstoppable Domains, also commented on the partnership, saying that it will make Web3 more intuitive. Carter believes that both seasoned and beginner crypto users will benefit from the simplified experience that will come as a result of the collaboration.
Apart from payment transactions, the NFT domains can also be used as a way to log in to decentralized applications (DApps), wallets and exchanges. It also allows users to pick which data they want to give websites and apps access to.
Meanwhile, demand for NFT domains continues to surge. Earlier in July, registrations for Ethereum Name Service have risen by 200%. The increase in registration was driven by hype amid the second-largest sale of a .eth domain when “000.eth” was sold for 300 Ether (ETH), worth around $300,000 at the time of purchase.
More recently, Ethereum co-founder Vitalik Buterin responded to critics questioning the proof-of-stake (PoS) consensus amid the upcoming Merge of the smart contract platform. According to Buterin, many of the arguments coming from critics are based on unmitigated lies and provided a rebuttal on the topic of PoS voting.