Press Release
Press Release FIO Protocol Decentralized Global Blockchain Usability Polygon, a leading provider of solutions, announces the launch of FIO domain wrapping on the Polygon blockchain. Wrapping is the process of taking tokens from one blockchain and making them available for use on another blockchain. With this launch, users will be able to buy and sell FIO domains as ERC-721 NFTs on all Polygon-enabled marketplaces and enter the $31.4 billion NFT market.
Established in 2019, the FIO Protocol offers NFT domain names that grant users full custody of decentralized digital identities.FIO domains are used for FIO’s flagship product, the FIO Crypto Handles used for customization, allowing users to personalize their distributed digital identities from front to back without requiring the use of a standardized top-level domain (e.g. [email protected]). This handle can be mapped to any type of cryptocurrency wallet and can be used as a single user-friendly identifier instead of a long cryptocurrency wallet address.
Eric Butz, VP of Engineering, FIO Protocol. NFTs have great potential to disrupt the way the creative industries operate and the way people control their Web3 identities. the FIO Domain NFTs are designed to replace complex wallet addresses with human-readable names, using personalized FIO Crypto Handles can be used to send, receive, request, and securely sign any type of crypto transaction, simplifying the cryptocurrency experience. Launching the wrapping solution with Polygon will expand access to our FIO domain, and the FIO protocol will directly enter the rapidly growing market fordistributed identities. . .
All FIO domains are non-fungible tokens, meaning they are protected by a private key on the FIO blockchain and can be freely transferred between accounts, users and wallets by the private key holder FIO With the launch of domain wrapping, FIO domain purchases, sales, and transactions are widely adopted, being an Ethereum Layer 2 scaling solution with over 135 million unique wallet addresses and 1.8 billion transactions as of January 2023 scaled to the Polygon blockchain.
To start using the Polygon wrapped FIO domain, visit FIO Dashboard or watch this demo video.
Future updates to the FIO Protocol will be posted on the official FIO Protocol Twitter account and the FIO Blog. To chat with the team, join FIO on Discord.
About FIO
About FIO, Foundation for Interwallet Operability , is a decentralized consortium of blockchain organizations and community members who support the ongoing development, integration, and promotion of the FIO protocol. The protocol is an open source decentralized usability solution that works with all blockchains and uses human-readable Crypto Handles to The FIO protocol is built on the FIO chain, a dPoS blockchain that fuels the ecosystem use of FIO tokens ($FIO).
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