Analysis: BitKeep Wallet launches support for blue-chip NFT domain names such as .bayc introduced by KEY3.id
For Web3 to achieve true explosive growth, it must have mature DID solutions.Author: KEY3.id
On December 5, the DID application KEY3.id announced a partnership with the well-known wallet BitKeep Wallet. BitKeep Wallet now supports the industry's first Asset Bound Token (hereinafter referred to as ABT) launched by KEY3.id, which includes .bayc and other digital domain names bound to blue-chip NFTs.
Users who own blue-chip NFT bound domain names such as .bayc can apply their .bayc domain names for identity verification, transfers, social interactions, airdrops, and other scenarios on major wallets like BitKeep Wallet, and access 70 different main chains, managing and storing over 220,000 different cryptocurrency assets and NFTs.
KEY3.id CEO Kory Pak stated: "Maintaining cooperation with BitKeep Wallet is a necessary step to create a more open financial system for the world. The blue-chip NFT bound domain names of KEY3.id (such as .bayc) utilize the concept of Asset Bound Tokens (ABT), bringing more value to NFT holders. This means that from now on, your NFT has an additional proof that verifies you as the true owner of the blue-chip NFT."
Currently, KEY3.id is collaborating with dozens of well-known NFT communities such as BAYC, Azuki, Clone X, Doodles, Mfers, Mimic Shhans, and Moonbirds. A community voting event will officially start on December 5 at 20:00 (UTC+8). Users holding blue-chip NFTs can vote for their preferred DID suffix, with the voting period lasting for 10 weeks.
BitKeep stated, "The cooperation with KEY3.id demonstrates our long-term optimism for the DID track. As an important infrastructure, DID represents a new paradigm shift, creating a new network ecosystem built around new standards and technologies. In the future, with the widespread adoption of DID, personal data will not be locked in a single ecosystem or entity, and DID will bring new value to economic activities on the internet."
It is reported that previously, KEY3.id launched .did digital domain names in the first phase, aiming to provide every user entering web3 with a permanently free identity; and to offer users a free-to-own DID Web3 experience to attract more people to join, allowing users to build from free without any upfront payment for DID identity, enabling holders to own them for free; while being sufficiently neutral, inclusive, and cross-chain, contributing to building a more inclusive Web3 world.
Currently, the high-end domain .bayc launched in the second phase by KEY3.id serves as the industry's first Asset Bound Token (ABT), leading BAYC into a new era of Asset as your DID. Holders of blue-chip NFTs like BAYC can claim the corresponding suffix DID through KEY3.id.
The launch of .bayc has garnered significant attention from many BAYC NFT holders, including well-known KOLs in Web3. Game Space CEO Michael Cameron minted 6669.bayc and changed his Twitter name to "Michael Cameron 6669.bayc"; former Huobi Global CEO 0xLivio minted 2883.bayc and similarly changed his Twitter name. Discussions about .bayc have rapidly spread across major bored ape communities.
Michael Cameron stated: ".bayc perfectly combines the top-tier nature of the BAYC domain with the memorability of 4D domains, and only NFT holders can claim it, effectively reflecting the assets of the domain holder. It is expected to quickly become the most sought-after DID, potentially driving up the prices of leading NFTs like Bored Apes, especially benefiting the rare asset numbers within."
Several bored ape NFT holders have expressed to the author that the most valuable aspect of .bayc lies in the ABT feature, which ensures its seriousness, meaning it follows the NFT and cannot be traded separately. Once the NFT is transferred or traded, the corresponding DID will also be destroyed.
Kory believes that users can benefit from owning blue-chip NFT DIDs, laying the foundation for their online identity through Asset Bound Tokens (ABT). ABT can identify the NFTs in a user's wallet, ensuring the reliability of the user's DID and truly representing the asset as your DID (asset as identity). For example, only the true owner of BAYC#0000 can mint the 0000.bayc domain, which is for use only and cannot be transferred. Once the NFT is traded, the corresponding DID will also be destroyed, ushering in an era where assets serve as the user's identity.
In the long run, for Web3 to achieve true explosive growth, mature DID solutions must be in place, and some projects will undoubtedly become leaders in the field. Even in a bear market, the popularity of DID continues to grow. This month, ENS domain registrations exceeded 430,000, setting a new historical record. Additionally, the total number of ENS participating addresses reached 599,171, with a total of 2,763,252 ENS domain names.
Compared to the total of 2.7 million ENS domain names, the vast majority of NFT collectibles are numbered, especially blue-chip NFT projects like BAYC, Azuki, Clone X, and Moonbirds, with only a fixed supply of 10,000 four-digit premium domain names. Therefore, assets as the user's DID are not only rare but also worth collecting.
It is reported that KEY3.id has also partnered with dozens of wallets, DeFi, GameFi, SocialFi, and other DApps, including BitKeep Wallet. The collaboration between KEY3.id and well-known NFT communities such as BAYC, Azuki, Clone X, Doodles, Mfers, Mimic Shhans, and Moonbirds, along with the initiation of community voting, may lead us to see more DID solutions being implemented.
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