Key Highlights
- Beldex launches BNS Marketplace for peer-to-peer trading of blockchain-based .bdx identities.
- More than 5,500 BNS names have been sold since registrations opened in February 2024.
- BNS names replace complex wallet addresses with human-readable identities across the Beldex ecosystem.
BNS Marketplace:- The complex UI of blockchain systems such as long wallet names and addresses, has long been cited as one of the biggest barriers to mainstream crypto adoption.
From lengthy wallet addresses to complicated user IDs, interacting with blockchain applications often remains complex for everyday users.
But Beldex, the privacy-focused blockchain ecosystem, sought to address that challenge when it launched the Beldex Name Service (BNS) in February 2024 via the Bern Hardfork. The service introduced human-readable .bdx names that could be linked to wallet addresses and products within the ecosystem. These include BChat IDs, BelNet, Beldex Wallet, and the Beldex Browser.
So now instead of bxcqBDDMXX6Aoa6puHC7i6h3M2GxyhxV1B.., a user can simply use yourname.bdx
That allowed users to replace long strings of characters with a simple username.
Now, riding on that momentum, Beldex has decided to give value to every BNS name. For this, it has launched the BNS Marketplace, a dedicated platform that allows users to buy, sell, and trade these blockchain-based identities.
Beldex Launches BNS MarketplaceThe move transforms BNS names from simple digital identifiers into tradable assets within the Beldex ecosystem. Here’s How
So what exactly is the BNS Marketplace?
In simple terms, Beldex’s BNS marketplace allows users to trade BNS names directly with one another. Similar to how premium website domains can be bought and sold, users can now list their .bdx names for sale.
They can discover available names, and purchase names that may be valuable or relevant to them. So it works somewhat like OpenSea for NFTs and Domain marketplaces for .com websites.
But this is specifically for .bdx identities.
The big idea is that these names are private and owned by the user, not controlled by a central company. So the marketplace gives people a way to trade those names directly with each other.
Beldex said BNS registrations have been available since February 2024. The registration fees ranges from 650 BDX for one year to 4,000 BDX for a 10-year registration period. According to the project, more than 5,500 BNS names have already been sold.
BNS MarketplaceWhile the company has not provided a specific valuation target for BNS names on the marketplace, it expects names to trade above their original registration costs. This is particularly in the case of premium domains. Similar to traditional internet domains, memorable and highly sought-after names could command higher prices as adoption grows.
The launch comes as privacy is increasingly becoming a focus area across the crypto industry. Recently, Ethereum co-founder Vitalik Buterin outlined a roadmap to strengthen privacy features on the Ethereum network
Trading Decentralised Ownership
Dr. Alex Mok Kong Ming, COO at Beldex said that what distinguishes it,” is Beldex, the privacy-focused and blockchain-based system.”
When a user buys traditional .com domains, he’s actually renting them from a company like GoDaddy or Namecheap. They keep the records. Users pay renewal fees every year.
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If the registrar shuts down, changes policies, or suspends the domain, users could lose access.This is because ownership depends on centralized companies and authorities like ICANN. But in BNS name, like yourname.bdx, the Beldex blockchain records that users own it. No central company controls the name once it’s registered. The launch of the marketplace opens the door for premium BNS names to develop value over time.
Dr. Alex Mok Kong Ming, COO, informed Block of Fame that, “The internet was never meant to place identity ownership in the hands of a few centralized entities. Decentralized namespaces like the BNS marketplace return that control to users.”
The launch also reflects a broader trend emerging across Web3, where projects are trying to build decentralised ownership and even internet.
Frequently Asked Questions
The BNS Marketplace is a platform that allows users to buy, sell, and trade BNS names,
BNS names are human-readable .bdx identities that can be linked to wallet addresses, BChat IDs, BelNet addresses, and other services, replacing long and complex identifiers
Beldex has not set any official valuation targets for BNS names. However, registrations currently cost between 650 BDX and 4,000 BDX depending on the duration, while premium names could command higher prices based on demand and perceived value.
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Source: https://coingape.com/block-of-fame/pulse/beldex-launches-bns-marketplace-for-human-readable-crypto-identities/
