FOMO it’s why people jump or ape into projects, sometimes it turns out right, sometimes it doesn’t. But in any way it turns out, history usually repeats itself. So what part are you taking? Are you going to be among the part that took the risk or the part that is too scared to take the risk? First of all, crypto naming service sounded like a great idea to me, that was before I joined Hive of course. So what do these crypto naming services do? As the name implies, they are platforms that provide naming services on various blockchains. You know how crypto wallet addresses are gibberish, long and hard to remember, you have to always copy and paste when trying to send tokens. I always make sure I crosscheck any chance I get so as not to make any mistake while sending. If you miss a figure or a letter, you won’t be able to tell, so as to when you add a letter or a figure by mistake, that will lead to the loss of your assets.
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What these naming services do is give you the opportunity of choosing a readable long or short name for your wallet, so you can stop making the mistake. But you have to pay a fee for a limited amount of time, when that time expires, you will have to pay more money to extend their services. If you don’t pay more money to extend the service, you will lose the right to that name on the blockchain and any other wallet can claim it. Now, this is an opportunity we have on Hive, on Hive you can choose a name you like and it’s yours for life, you don’t have to pay any money to mint it or extend the right to that name.
The first naming service I encountered was the Ethereum Naming Service(ENS) that ended up giving out hefty airdrops to his early adopters. All you had to do was own an ENS domain and you would have received an ENS airdrop. Lots of people were lucky to have gotten a domain and received the airdrop, while lots of people like me didn’t even know that a naming service would give an airdrop. So today, the hype is back, we having a lot of blockchains providing naming services and people are aping into these naming services because they don’t want to miss out like they did on Ethereum Naming Services. They are some available naming services that won’t cost you a lot to have, like the new Starknet naming service on the upcoming Starknet blockchain, we have the space ID naming service on the Binance blockchain, they cost money to get, but if you want to ape in, have at it. Note that this post is not a financial advice.