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Another NFT Sold for a Record Breaking Price

Namebase, the one who facilitates Handshake domain purchases, has brokered the deal for the investor, Jehan Chu.

A crypto investor from Hong Kong, Jehan Chu, says that he purchased the top-level domain name .nft from a decentralized naming service, Handshake.

Namebase says it helped Chun buy the “.nft” top-level domain for $84,000 or about 680,000 in the Handshake blockchain’s native token, HNS. The price tag for the “.nft” domain makes it a record purchase, the CEO of Namebase Tieshun Roquerre says. In a tweet, Chu revealed that he’s also an investor in Namebase.

And because the .nft is a top-level domain (like .com or .net), Chu can now issue as many subdomains as he wants.

Handshake offers an alternative to the traditional DNS (domain name service) that has been the dominant website naming system since the early days of the internet.

Handshake wants to put the entire naming process in its blockchain. The 100,000 most popular domains are off-limits for a while, but Handshake allows a user to register any other domain through an auction. These could be longer than traditional domain names and include special characters like emojis.

A potential drawback is that domain names registered through Handshake can’t be accessed through mainstream browsers, since they live exclusively on Handshake’s blockchain.

It can also be changed, though: the crypto-friendly browser Brave has already implemented different access to IPFS domains, which provide equally “censorship-resistant” websites, and according to an old tweet from the CEO, the company has at least thought about backing Handshake.

However, the domain names like .nft may still feel like investment opportunities rather than practical purchases for now.

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