2/
TL;DR
1. @Solana Name Service could be bigger than @ensdomains
2. @Bonfida has established the foundation for simplified payments on @Solana with its naming service.
TL;DR
1. @Solana Name Service could be bigger than @ensdomains
2. @Bonfida has established the foundation for simplified payments on @Solana with its naming service.
3/
3. Revenue from Solana Name Service goes back to $FIDA token via buy and burn, contributing to the value of $FIDA token.
4. @solana Name Service has real use cases and in my opinion holds more value than NFT does.
3. Revenue from Solana Name Service goes back to $FIDA token via buy and burn, contributing to the value of $FIDA token.
4. @solana Name Service has real use cases and in my opinion holds more value than NFT does.
4/ @ensdomains distributed $ENS to .eth domain holders today. In the era of web 3.0, domain names will serve as an entry ticket into this space. While ENS has caught a lot of attention recently, we should also take a look at @Solana Name Service, which is built by @Bonfida.
5/ There are ~35K .sol domains registered on @Bonfida, and ~410K .eth domains registered on @ensdomains. Given that Bonfida released SNS service only 5 months ago and Solana is still catching up with Ethereum, the traction is amazing.
6/ ...and the number of registered domains is growing quickly (28% MoM, 10x growth from Q2 to Q3.) 
7/ SNS has become the standard for P2P transactions on Solana, with major wallets like @Phantom, @solflare, @Slope, now having successfully finished their integration. Using a human readable .sol domain name instead of long sol address has greatly simplified on-chain payments.
8/ @Bonfida has established the foundation for simplified payments on @Solana with its naming service by integrating with major wallets. In DNS space, the first mover can easily take all the market share.
9/ While it's not clear how $ENS holders can benefit from the protocol's revenue, 100% of the SNS revenue will be used to buy and burn $FIDA. $FIDA's holder has a clearer way to capture the value of protocol.
10/ SNS could work in a similar way as NFT does. Speculators could buy and resell domain names to earn quick profit, while long term investors could hold and benefit from more practical uses in the future.
11/ For instance, there is potential of using .sol domain names as the ID in GameFi and decentralized social network, or for website resolution, and more use cases with imagination.
12/ Domain might be the most valuable form of investment in NFT space.
Have seen many early adopters who have bought domains such as starbucks.sol / visa. sol trying to resell them at a much higher price (>100x).
The price of 💎.sol is the current highest paid domain at $60K+.
Have seen many early adopters who have bought domains such as starbucks.sol / visa. sol trying to resell them at a much higher price (>100x).
The price of 💎.sol is the current highest paid domain at $60K+.
13/ In most cases, you can have PERMANENT ownership of a .sol domain name starting from just 21 USDC. While a 1Y renewal of a three-character .eth domain name currently costs about 0.14 ETH ~$640 USDC.
14/ If you're a NFT investor, SNS will be a heaven to you. You can either mint a new domain name or hunt for under-valued domains on the marketplace. There are still tons of valuable name spaces not discovered by the market.
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