Turin 1st March 2023 – Young Platform is proud to announce a strategic partnership with Freename.io, a leader in Web3 domain services.
Freename.io is an innovative platform that makes it possible to purchase, manage and use Web3 top and second level domains in an advantageous manner, also thanks to the possibility of obtaining royalties. To clarify the difference between top-level and second-level domains, let us take the example of freename.io: the “.io” is the top-level domain (TLD) while “freename” is the second-level domain (SLD). Whenever a new user buys a domain on a given Top Level Domain, the owner of the TLD earns 50 per cent of the value of that domain, effectively becoming a Registrar capable of generating profits.
From a technical point of view, Freename.io’s Web3 domains are NFTs, non-fungible tokens, compliant with the ERC-721 standard and thus compatible with the entire landscape of existing crypto services and applications. Currently, Freename.io supports the Polygon, Binance, Aurora and Cronos blockchains.
The integration resulting from this partnership will allow our users to search for a Freename.io domain directly on the Young Platform Web, evaluate its price and decide whether to purchase it. Freename.io domains can be used to send your tokens to a crypto wallet: in fact, the domain contains the information needed to tell the blockchain which wallet to send the tokens to. Therefore, thanks to the integration, it will be possible to send and receive your cryptocurrencies from Young Platform wallets via domains instead of wallet addresses.
Web3 domains are essential for exploring the potential of the Web3. These have numerous functions such as that of a readable and easily shareable wallet address, resolver of traditional websites, domain to create and display a decentralised website and to send blockchain-based emails and messages. Precisely because of these and other functionalities, Web3 domains are used to manage one’s identity on the Web3 and bring together all one’s online profiles in a simple and straightforward tool.
Freename.io fits into this context and aims to make it easier for users to enter the new decentralised phase of the Internet. A mission in line with that of Young Platform, which aims at the dissemination of these topics in order to bring greater awareness.
The blockchain and cryptocurrencies will be the beating heart of Web3, a decentralised, transparent version of the internet that enhances artists and content creators. We are witnessing a real paradigm shift in which all the benefits of blockchain will be applied to the internet in all its aspects, from information sharing, to payments, to virtual socialising opportunities.
Davide Vicini said: “We are delighted to partner with Young Platform, a leading crypto exchange in Europe and at the forefront of the Web3 world. The integration of Web3 domains will allow Young Platform’s customers to be able to use their own domain as a payment address, send and receive Web3 emails and browse the Internet normally with Freename domains.“
Young Platform CEO Andrea Ferrero concluded: “We are happy to welcome Freename.io to our platform, offering our customers the opportunity to buy and exchange Web3 domains. This partnership represents a step forward for us in making the use of cryptocurrencies and Web3 domains more accessible and user-friendly for our users.”