Cloudname Revolutionizes Domain Trading With NFT Technology

Blockchain technology is taking over the world by storm. Thanks to its amazing capabilities that expand beyond the good old cryptocurrencies, it has become a familiar term across the globe at this point. From the NFTs, which is the talk of the town at the moment, to cryptocurrencies making headlines for one reason or another, the potential of blockchain technology is never-ending and still majorly untapped. 

Today blockchain has entered a long list of industries, such as supply chain, finance, luxury goods, social media, and many more. Despite such growth, blockchain was yet to make a way into the lucrative domain trading space, which is a billion-dollar industry. That has changed now, as Cloudname entered the burgeoning domain trading market with its innovative set of tools and features, which will change the industry for good.

Upgrading the domain trading space

Cloudname is a domain trading platform revolutionizing the domain trading space with disruptive ideas and features. Domain trading is an already established industry, with billions of dollars worth of trade taking place year after year. The industry is not new to multi-million dollar deals either. For instance, business.com is the most expensive domain ever, bought at a whopping $345 million in 2007. Yes, you read that right! This isn’t an outlier situation, as domains like Lasvegas.com ($90 million), Carinsurance.com ($49.7 million), Insurance.com ($35 million), among many other domains have fetched millions of dollars, too.

You must be wondering if domain trading is so successful, why hasn’t it entered the mainstream yet. Well, the reason why the industry still hasn’t been able to achieve the expected success yet is because of high entry barriers. For example, high costs and the lack of tools to track the availability of high-value domains are making it harder for the masses to enter this lucrative market. Besides these, the unavailability of features like renting was holding back the industry from realizing its true potential. 

That’s where Cloudname is making its presence felt. It is making the domain trading process more seamless, accessible, and easier for both the masses and the classes. After a successful IDO launch and several exchange listings, Cloudname is advancing its endeavors, which are focused on creating a level playing field for everyone, from the major names of the industries down to the common man. 

Tokenization, fractionalization & domain renting

Fundamental features offered by Cloudname in the domain trading space encompass both traditional and blockchain industries. Its game-changing features are trading, tokenization, which is making fractional ownership of domains a reality, renting, tools to keep track of the market, among others.

Among these innumerable features that Cloudname offers, domain tokenization is perhaps the most important one. It enables domain traders to tokenize their domains leveraging non-fungible technology and create more than one non-fungible token for a single domain, opening the door to fractional ownership of valuable or prized domains. 

Cloudname envisages a platform where everyone finds themselves on equal grounds. To advance their vision in that direction, Cloudname offers a renting feature. Due to the domain renting feature, the access to high-value domains is not limited to major business owners, industrialists, and big entrepreneurs anymore, as anyone who is unable to spend a fortune on a high-value domain can instead rent it from Cloudname. 

Furthermore, Cloudname integrates 20 different APIs or Application Programming Interfaces (which essentially mean software intermediaries that enable or allow two applications to communicate with each other) with third-party providers. It allows users on the platform to:

• Discover and then display the pricing factors of domains
• Obtain analytics
• Use prediction tools
• Spot trends in the marketplaces.

The native token

The Cloudname platform also has its own native token. It offers a wide range of functionalities, including the utility as a governance token. Cloudname’s utility token CNAME acts as the fuel or lifeblood of the platform and provides its users with a wide range of benefits, including free registration, free sale promotion, fee discount, the opportunity of participating in lotteries, and access to predictive algorithms, and much more.

CNAME recently grabbed headlines in the crypto world with extremely successful listings and sales on popular exchanges (both centralized and decentralized exchanges with high rankings) such as Gate.io, MEXC, and so on. Additionally, the platform also has a gamified token ownership hierarchy where the users with a higher stake in CNAME are eligible for greater user statuses or levels. Owning more tokens enables users to unlock newer levels, which accords them with greater benefits. There are four different levels as follows:

• NEWBIE for the users without any stake in CNAME
• ROOKIE for users with a minimum amount of stake of 300 or fewer CNAME tokens
• PRO for users holding 1,500 or fewer CNAME tokens
• NINJA for the users with 3,000 CNAME tokens

Rethinking the future of domain trading

As the proud CEO of Cloudname, Davide Vicini, has noted, Cloudname, in fact, is

“a contemporary blend of innovation, digitalization, and investment that will bring untapped opportunities to the masses interested in exploring the world of domain trading”. So, with a community-driven vision, the inclusive platform of Cloudname is here to rethink and redesign the domain trading space.