By Editor In Chief
TLD (Top Level Domain) collisions pose a real threat to Web3 NFT domain adoption.
Fio protocol avoids these collision issues because Fio domains start with @ for example @wef or @fc or @fyi (which I own) thereby avoiding confusion with Web3 and ICANN tlds.
For example the @wallet Fio domain does not conflict with the .wallet TLD that is being contested in court between UNSTOPPABLE Domains and the Handshake Naming Service community (HNS). ICANN could also launch its own .wallet TLD and that will only complicate things further.
I discovered Fio Protocol sometime late last year through a Lenoverse course. I was astounded and excited that I could register an easy to remember crypto handle nftdomain@wallet and use it to send and receive crypto regardless of the blockchain I was using. No renewal fees, No registration fees! And I own the crypto handle forever!
Anyone can easily register a Fio crypto handle here. You can also purchase a Fio Domain eg @wallet and mint as many crypto handles for your business, organization or project as you like.
Fio crypto handles are the equivalent of slds eg KlausSchawb@Wef or GreatReset@wef and they are easy to remember and you can map all your crypto wallet addresses to them.
Many popular crypto projects are already using Fio domains and crypto handles eg Opera Browser, Guardarian wallet, Edge Wallet, Bitcoin.com and more.
I contacted Wayne Marcel the Head of Business Development/ Strategic Partnerships at FIO Protocol and he agreed to do this exclusive Interview in order to provide a thorough overview of Fio protocol.
Can you differentiate Fio domains and fio crypto handles eg liverpool@fc from the other Web3 naming services that start with the (dot) TLD?
The @ model differs from the dot model in a few ways, the main one is when it comes to brands and building communities. Nike could give their team handles like James@Nike. Influencers that build community around a common theme could do the same like Jesscia@beyoncefans.
Furthermore, FIO domains are blockchain agnostic, so Louis Vuitton for example can launch an NFT drop on Cosmos, Avalanche, or whatever ecosystems may be thriving at the moment. If they used most Web3 domains, they would be mostly reduced to Etheureum.
With FIO domains, the users don’t need to download a Metamask wallet for ETH, a Kepler wallet for Cosmos, an Anchor wallet in EOS.. Just to transact in Web3.
With FIO domains, the users can keep using any wallet they are already using and it still enhances their entire Web 3 experience.
In my opinion bringing Fio to the NFT market place will likely increase adoption. Does Fio have plans for this and if so when could we expect to see this?
This is a great question. And luckily, we can expect this to be imminent as we’re just rolling out an amazing new feature, wrapping on Polygon, which allows the users to sell wrapped FIO domains in Opensea and any other marketplace that supports NFTs on Polygon.
The Telegram messaging app has been auctioning off telegram handles on a specialized block chain with relatively good success. However their handles are limited to the telegram ecosystem. Fio domains and crypto handles on the other hand are interoperable with various block chains and ecosystems. Can you explain this unique aspect of Fio?
FIO stands for the Foundation of Inter-wallet Operability, and one of our most distinctive aspect is that of interoperability. What sets us apart from the competition is that we are wallet-agnostic and Blockchain agnostic.
For instance, let’s take the Telegram model you’ve mentioned. The users must all be on Telegram to use the handle. Coinbase is building a similar model and again, the users must all be on Coinbase to use the handles.. So on and so forth.
With FIO handles, the users could transact and connect with each other no matter which wallet they use, no matter on which blockchain they’re on. FIO Crypto Handles and Domains are 100% interoperable and not reserved to any single chain or wallet. Which makes it a great product for the users.
Is Fio protocol VC funded or is it sufficiently decentralized?
Before rebranding to FIO – the company was originally called Dapix – we’ve raised $5 million from Binance Labs and others, however the company operates as a delegated proof-of-stakes with a block producers system not too dissimilar of the one in EOS, and operation-wise FIO works with a highly functional DAO model (Decentralized Autonomous Organization) to insure the maximum decentralization possible.
Does Fio collect and track user data and what is the stance of Fio regarding user privacy and data in general?
FIO doesn’t process sensitive user-information nor receives data from 3rd parties. In fact, we have a pretty straightforward privacy policy that you can find here.
I’m personally very impressed with the ability to use Fio crypto handles on the amazing Opera Crypto Browser which I see as an easy way to on-board billions of people to Web3. How did this integration come about and what other integrations of this caliber is Fio working on?
The integration came about when one of the founder’s of FIO connected with someone at Opera. The initial integration was only in the Opera Android but it was very successful in a short period of time so when the Opera Crypto browser rolled out, FIO functionality was integrated for all operating systems of the Crypto Browser. Initially, there was only the ability to register FIO Crypto Handles on the @opera domain, but they are in the process of rolling out the ability for users to register custom domains to further personalize and customize a user’s crypto handle. Domain registration is live on some devices and a joint announcement will be made soon when rollout is complete.
OK, last question. Can you please explain about the Fio token and the role it plays in fio domains and crypto handles?
The FIO tokens help with registering, managing and renewing FIO handles and Domains, and also plays an important part in governance, in addition to that, staking the FIO tokens allows you to earn a passive income while participating in on-chain governance.
That being said, it’s worth mentioning that FIO tokens are not an absolute necessity when it comes to purchasing FIO domains as the users can buy our domains by credit card if they prefer to do so. In our quest to make all crypto products easier for the masses, we provide the best options possible for the users, which is why we make such options available to the public.
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