Freename, a Web3 domain service, has announced the launch of a new feature that enables payments with blockchain domains using MetaMask. This means that for the first time ever, it is now possible to use Web3 domains to send and receive payments via MetaMask and other major wallets, completely separate from centralized entities. Any user can use their Web3 domain to send and receive tokens on any wallet.
According to Freename, all this is made possible through the Freename Browser Extension: once installed on Chrome or Brave, the user can click on the ‘payments’ section and choose which domain to use to send a payment. The extension then asks the user which wallet to use for the transaction – choosing between MetaMask, Rainbow Wallet and several others – at which point it automatically connects it to send the tokens.
This functionality opens the use of domains to the mass market, considering that there are over 68 million wallets to date. Likewise, any user can request a payment by indicating their domain to the sender, a process that is much more immediate, simple and secure than copying and pasting a long wallet address.
A revolution towards an open ecosystem
Until yesterday, in order to send and receive payments via Web3 domains, it was necessary to integrate the Web3 Registrar at the software level with specific Centralised Exchanges (such as Binance or Crypto.com), thus allowing only users registered on the CEX to use the domain within the ecosystem. However, this process creates closed ecosystems because transactions only work within the CEX. Users outside cannot use this functionality and users inside cannot send and receive payments from outside users.
With the integration between Freename and major wallets such as MetaMask and others – accessible via Wallet Connect – a new world opens up. All Web3 users, regardless of the wallet they use, can use their domains mined on the blockchain to make payments.
A growing market
The growing adoption of Web3 domains is closely linked to the uses they offer. To date, a Freename domain can be used to send and receive payments via wallets (over 68 million on the market), to send and receive Web3 and Web2 emails (there are over 4 billion mailboxes worldwide), to browse traditional Internet sites (over 1 billion) and to build decentralized Internet sites via IPFS technology.
In light of these functionalities, it is clear how Freename is increasingly favoring the connection between the Web3 world and the Web2 world for an adoption of Web3 domain technology that is increasingly mass-market and accessible to the average user.
Davide Vicini, Freeame’s CEO, commented on the release “With this work we made the token-sending experience easier for everyone. It was amazing to see how once released in the community, customers started exchanging tokens with ease and having fun. This is an important step in solving one of the biggest problems of Web3: the user experience.”