After the success of the Ethereum name service (ENS), followed by the explosion of the NFT domain name market. Every blockchain has also jumped on this bandwagon and developed their own domain projects. In this article, let’s learn about Space ID, a leading domain name project on the BNB chain invested by Binance labs.
What is Space ID?
Space ID is the first and largest web3 domain name service project on the BNB chain. Like ENS on Ethereum, Space ID supports turning user’s wallet addresses from a complex sequence of alphanumeric numbers into easy-to-remember names in the form of abc.BNB, xyz.BNB …
In fact, social interactions are the root cause of the explosive growth of the internet. It goes the same thing to Web 3, people want to interact with each other by identity, not with wallet addresses consisting of only a series of numbers.
Domain name services are currently limited and isolated on each blockchain, causing many disadvantages for web3 users. The reputation you build (eg: abc.eth) can suffer when domains on other chains (acb.bnb, abc.sol …) are speculated.
To solve this issue, Space ID has built a system that 1 domain name can be used on all different blockchains.
Space ID’s Model Highlights
Universal Domain – Domain name for all chains
Space ID is aiming to develop Universal domain, making 1 identity usable on all blockchains. Therefore, personal reputation will be no longer affected by domain name disputes on different chains.
Eg: With Space ID, if your username is Allen, you will be :Allen on BNB, :Allen on Ethereum, and also :Allen on Cosmos…
Domain Hierarchy Options
– Private domain for the community: For example, Allen is a BAYC NFT holder, then Allen can optionally display his identity as: BAYC: Allen.
– Seamless NFTs integration: Assuming Ape foundation wants to send airdrops to BAYC holders, they only need to send to wallet addresses with subdomain of BAYC: XX without regard to specific identities or list of wallet addresses. of the recipients.
SDK Domain for every chain
Space ID has developed an SDK capable of helping Dapps quickly integrate domain products in just 30 minutes.
In addition to its fast speed, Space ID’s SDK also helps partners integrate domain names of other domain service providers available in the market. Basically, if you want to integrate all types of domains from different chains, using the Space ID SDK is enough.
How to register a domain name on Space ID
You can register your .bnb domain at: https://app.space.id/
– 3 characters: $650/year
– 4 characters: 160$/year
– 5 characters onwards: 5$/year
Or you can buy and sell domain names on the secondary market at NFTs marketplaces: Opensea, Binance NFT, Tofunft…
In the near future, Space ID will launch the .ARB domain name. Besides, Depocket is having a giveaway whitelist event on Galxe, you can join to receive early purchase of domain names here: https://s.depocket.com/Bq9S5m
Information about SID tokens
Currently, Space ID has not announced a token launch plan.
Project team, investors, partners
Binance Labs was the sole investor of Space ID in the seed round, the amount of the investment is still undisclosed.
Currently, Space ID’s product has integrated with many projects inside and outside the BNB chain. The most typical ones can be mentioned such as: DODO, StepN, Galxe, Trustwallet, Cyberconnect…
Roadmap & Update
– Integration with major DApps & Wallets
– Complete all-in-one SDK
– Multi-chain Top-Level-Domain
– Domain Affiliate Marketing Program
– Merch Store
– Launchpad for custom domains (TLD)
– SID Universal Domain – Common domain name for all chains
– Launched SID DAO
Project’s information channel
SpaceID now be integrated into DePocket app
Trader & investors now can track their bnb.domain balance anytime, anywhere on https://app.depocket.com/
By supporting SpaceID and integrating bnb domain, DePocket continues to offer convenience for Defi investors.
The DePocket App is not just special but also free for everyone to use. Try it now and explore the user-friendly platform for yourself.
Space ID is a unique domain name project within the domain name sector, where its product can solve identity problems on blockchain and bring web3 closer to ordinary users. Stay tuned for the next Space ID strategies and products in the future.