The main benefit of this for creators is that they're the only ones with the ability to change or delete their content, with centralized social networks such as Twitter and Facebook being kept firmly out of the mix. In addition, a creator using an NFT domain to host their content will have full ownership of the data and analytics associated with it, with no third party being able to access this valuable information and profit from it.
Online businesses can face numerous problems, such as the domain company reclaiming the website or having to pay regular hosting fees; even being bound to the terms and conditions of a third-party platform can be a hindrance when it comes to carrying out business online.
Because of these drawbacks, online businesses can also benefit from NFT domain names and hosting their websites independently of centralized companies. With greater control over content and rules, and the ability to fully customize a site to look as professional as possible, an NFT domain can be a good tool for online businesses to take advantage of.
Musicians have battled with intellectual property ownership pretty much since the beginning of the internet's existence. Third parties taking cuts out of their earnings to cover marketing costs has become somewhat of a new normal for musicians to contend with when making their music available online. The rise of blockchain technology, however, now means that musicians can use an NFT domain to independently host their own music without having to pay hosting fees to third-party streaming sites.
A musician can take control of their career by using NFT domains to promote new music and can mint audio NFTs, which leaves proof of who owns the particular audio file. Direct communication with loyal fans is also a possibility, thanks to the growing trend toward NFTs.
Digitized art can enable artists to stand out from the crowd, with an NFT domain name allowing them to display, auction, and even sell their work in a single space that's safe and secure. Payments can also be received via an artist's NFT domain, meaning the experience is seamless and cuts out third parties for both the creator and the buyer.
The future isn't always clear, but we're certainly heading towards virtual art gallery viewings being possible thanks to virtual reality (VR) advancements. VR NFTs are becoming an exciting prospect for artists, with much potential to be tapped into that could transform the industry.
Communities and Forums
How users interact with one another online in digital groups and forums is being redefined by NFT domains. Online communities and groups can have free and unrestricted discussions on a decentralized site that makes use of blockchain technology. Scrapping the rules of centralized platforms that can often censor speech, online communication is looking set to become more free and uninhibited due to NFT domains and blockchain technology.
It's relatively early days for NFT domains, but it's looking certain they're going to become a pretty big deal over time. A taste is being offered of what Web 3.0 will look like, and it's sure to be a significant change. As the decentralizing continues, now could be an excellent time to start thinking about the future of your own website and online presence when it comes to blockchain technology.