Much like ENS, Nametag is trying to take hold of the decentralized username market.
Nametag is a cross-chain, cross-platform service that allows users to own their decentralized username. There is one key difference between Nametag and other decentralized name services. With Nametag, users can install a browser extension to have their username displayed. Any platform can provide Nametag support, and as more users register, the overall network expands.
Thanks to @nametagtweets for the free claim on the gallery display 🙏🏾🥳 pic.twitter.com/0FpLWyz8dI
— OlDirtyDennis.eth/.tez (@OlDirtyDennis) February 6, 2022
They have taken Web3 profiles into their own hands. See, the thesis is that, according to their medium article:
“We don’t think Web3 replaces Web2. Twitter doesn’t go away, it doesn’t get replaced by a new platform… it evolves.”
They aren’t trying to reinvent the wheel surrounding Web3 usernames and social media. Nametag is building on top of what already exists. To add, there’s no doubt that industry professionals believe in this product. At the beginning of January, they closed their initial seed round with Continue Capital. This was at a valuation of $30 million.
With Nametag, users can display their NFTs on their Twitter profile, attach multiple addresses to one tag, and much more.
The Nametag Browser Extension
The first application of this is the browser extension Nametag has rolled out. Downloadable on Brave and Chrome, users can directly display their NFT portfolio to other Nametag users. Additionally, users can link their Twitter and Discord accounts to their username. From there, anyone using the extension can see a lime green username and NFT gallery for each Nametag holder!
You don’t need a Nametag to join in on the fun…
Simply add our extension to start viewing others’ Nametags and NFT galleries directly on Twitter! https://t.co/0NEwcGsskC pic.twitter.com/F4R1W9ovud
— Nametag (@nametagtweets) February 7, 2022
Currently, the platform supports ETH NFTs that are listed on OpenSea. That means that any NFT that can be sold on OpenSea, is eligible to be displayed on your Nametag profile. Users can customize their gallery, and choose which NFTs to display.
Correction: SOL NFTs are also now supported! Great a true cross-chain gallery, right on top of your existing Web2 profile
Nametag’s Genesis Collection
Also, at the same time as the seed round, the platform also announced its Genesis Collection. The first 5000 usernames registered now fall under this category. The benefits of holding a username from this collection include:
- $NT allocation upon release
- Collection airdrops, as well as airdrops/whitelists from partnered projects
- Exclusive genesis badge
- Voting rights (proportional to $NT)
While this collection limits itself to the first 5000 tags minted, the project isn’t stopping there. Holders of partnered projects can mint their own Nametags currently. These ones are not part of the genesis collection, and thus will not receive those benefits. But, holders of the non-genesis collection still get all the benefits of the service as a whole! Genesis Nametags are available here.
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