Single Blockchain Domain “.NFT” Sells For US$84,000
The Namebase Marketplace brokered this record-breaking deal for a Handshake domain
Art collector and crypto investor Jehan Chu made the world record purchase for “NFT” for US $84,000 (approx. 680k HNS tokens) on the Handshake blockchain, a decentralized DNS protocol. Jehan founded Hong Kong based Kenetic Capital, one of the earliest blockchain and crypto investment firms in Asia. Chu is also a long-time domain collector with over 1,300 Handshake domains, co-founder of “Nifty,” the first global NFT conference in 2018, and involved in the Robert Alice project which saw the first NFT sold at major auction house Christie’s for over US$130,000. He bought the domain extension after witnessing the rise in popularity of NFTs across the entire crypto ecosystem. Namebase.io — a domain registrar and marketplace for Handshake names — brokered the deal. Chu commented:
“Having trained at Sotheby’s and been an art collector for 15 years, I believe NFT’s are the true missing link between online and offline objects, and will transform not only art, but also business, finance, society and culture. An uncensorable NFT domain on Handshake is an invaluable asset and platform for the future of art and intellectual property.”
Handshake is a decentralized naming protocol that replaces the Domain Name System (DNS) with a more secure blockchain-based system that’s resistant to censorship. Domain extensions like .COM, .ORG, and .NET are currently owned by for-profit companies, countries, and organizations. Handshake makes it possible to own your own domain extension as an NFT on the blockchain, such as .SATOSHI, .DEFI, or even .NFT itself. Handshake’s censorship-resistant qualities are especially important in light of the recent rise in censorship around the world. Chu continued:
“The possibilities of the NFT domain are endless, from decentralized nft galleries to making branded NFT subdomains like art.nft and crypto.nft available for rent or sale.
This purchase follows a series of record-breaking sales made in the last few months within the Handshake ecosystem, including the previous record holder “.wallet” sold for 350,000 HNS.
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About Jehan: Jehan Chu is Founder and Managing Partner at Kenetic in Hong Kong, one of the earliest blockchain technology VC's. A former developer, he started investing in cryptocurrency in 2013, founded the Ethereum HK community and co-Founded the Bitcoin Association of Hong Kong in 2014. Jehan is a Kauffman Fellow, is the former co-Chair of the Hong Kong Fintech Association Blockchain Committee, and is co-Founder of Social Alpha Foundation, a blockchain for social impact non-profit. Jehan holds a degree from Johns Hopkins University and MA from Hong Kong University and sits on the Director’s Circle of San Francisco Museum of Modern Art.
About Kenetic: Kenetic is a blockchain and cryptocurrency investment firm founded in 2016 by Jehan Chu. Based in Hong Kong, they are investors in over 150 companies in the blockchain and cryptocurrency space including Namebase.
About Namebase: Namebase is a domain registrar and marketplace for Handshake names. Founded in 2018 their platform has helped Handshake enthusiasts register hundreds of thousands of names and their marketplace has processed over 10k+ sales.
About Handshake: Handshake is a decentralized protocol for Top Level Domain Names (TLD’s), creating the doorway for the web3 and the decentralized web. Handshake was founded in 2018 and backed by top VC’s including A16Z, Sequoia, Founder’s Fund, Polychain and more. www.handshake.org