Unstoppable Domains has launched a new service, UD Parking, that enables web3 domain holders to store their domains in secure private vaults, separate from their other crypto assets, in case of a breach in their self-custody wallets.
This new service is designed specifically for NFT domain holders, who may not have active services associated with their domains, and who want a place to securely store their web3 domains.
Introducing: UD Parking 🅿️
With this new custody solution, we’re giving you flexibility in how you store your Web3 domains by allowing you to secure your domains in a private vault created specifically for you.
How it works 👇 [1/6]https://t.co/GhgUNGwZ8J
— unstoppable.bitget (@unstoppableweb) March 13, 2023
What is UD Parking?
UD Parking is a new service launched by Unstoppable Domains, a provider of NFT domains, that enables web3 domain holders to store their domains in secure private vaults.
This allows users to separate their domains from other crypto assets and ensures that they are not compromised in case of a breach in their self-custody wallets.
The private keys to the vault are encrypted and protected, in alignment with industry best practices.
How does UD Parking work?
With UD Parking, users can park their domains and store them in secure private vaults. This means that they can update their domain records, such as setting wallet addresses or updating profile pictures, at any time.
However, the service does not allow users to associate their domains with any active services, such as email or websites.
Who can use UD Parking?
UD Parking is available to all types of web3 users, including first-time domain owners, those getting started with web3, or even those just looking for a place to store their domains.
What are the costs associated with UD Parking?
UD Parking will cost holders an additional $4 per year on each domain under $100 and $10 on each domain costing $100 or higher.
Can users still store their domains in self-custody wallets?
Yes, users can still store their domains in self-custody wallets should they choose to.
Unstoppable Domains advises UD domain holders that have an Unstoppable custody wallet to switch to UD Parking or transfer their domains to a self-custodial wallet by April 10, 2023, at 12:00 pm UTC.
How is UD Parking applicable in web3 use cases?
UD Parking can be used in several web3 use cases. By collaborating with Blue Studios for a family-focused web3 wallet service, the platform can be utilized to create secure crypto wallet services.
Additionally, Unstoppable Domains has teamed up with blockchain and metaverse gaming platforms to integrate its secure UD log-in service, which allows gaming communities to use their web3 domains as log-in across multiple gaming platforms.
Conclusion
UD Parking is an innovative solution that provides NFT domain holders with a secure private vault to store their domains. With this service, users can separate their domains from other crypto assets and update their domain records at any time.
The service is available to all types of web3 users and can be leveraged to develop secure crypto wallet services and for gaming communities to use their web3 domains as log-in across multiple gaming platforms.
If you don’t have an Unstoppable domain yet, go to UnstoppableDomains.com to find your Web3 identity.
Disclaimer: Some of the links on this page may be affiliate links, so I earn a commission if you make a purchase through my link. This helps me continue to create the free content I publish.
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