Ever since District0x was announced, people have been eager to learn what the platform has in store for the future. One of the projects this team is working on is a decentralized marketplace called Name Bazaar. The public launch of the product is expected in the very near future, although the developers are still making some changes and updates as we speak.
Name Bazaar Lets you Exchange Ethereum Name Services Domains
It is always refreshing to see projects come to market which are built on top of existing projects. The Ethereum Name Service, which allowed users to register .eth domain names in exchange for Ethereum tokens, has been around for quite some time now. Some of these domain names were sold for a lot of money, even though they may not necessarily be in use right now. After all, there is very little use for custom .eth domain names, but that doesn’t mean they have no future.
There will now be a dedicated peer-to-peer marketplace where such domain names can be exchanged. This platform will be known as Name Bazaar and is currently in development by the District0x team as we speak. Although this platform has not been made available to the public yet, it is expected that will only be a matter of time. There are some interesting aspects of this particular project that will get a lot of positive attention, to say the least.
Under the hood, Name Bazaar will seemingly allow people to trade domain names or possibly even resell them to other parties. This latter capability has not been officially confirmed at this point, and it is possible we will see some changes before this project is unveiled to the public. There will be various sections on this marketplace where one will be able to see available offerings and create new listings. Additionally, the platform will track which domain names are more popular or have seen recent action.
Name Bazaar could prove to be a powerful way to promote the benefits of the Ethereum Name Service as well. It remains to be seen how things play out in this regard, though, as the demand for these custom domain names will not magically increase due to this new product. Then again, one never knows what the future may hold for this platform or the ENS itself.
So far, it appears that audits of Name Bazaar have been pretty positive overall. The entire project is powered by smart contracts, which means there will be no centralized backend whatsoever. That in itself is a good sign, as services like these do not require any centralization whatsoever. Nick Johnson will perform a security audit of this platform as well, although it remains to be seen what those results will look like. Assuming no major revisions are needed, the project will launch later this month.
Moreover, existing District0x token holders will be able to provide valuable feedback on the Name Bazaar project itself. This can be done through its feedback Dapp, which was released some time ago. It is good to see such an open-minded approach being taken by this project in ascertaining what the community wants to see done differently. Once the platform launches, the team will keep a close eye on any additional feedback and improve its operations. Afterward, they will start building their next project.