Amid crypto market bearish turmoil, KEY3.id has reached a combined 60,000 in their social communities within just 1 week of its launch. Currently, KEY3.id has over 26,000 Discord users and 32,000 Twitter followers and is still growing at a rapid pace. Earlier this month, the project announced its initial investment of $3 Million from the GameFi Futures Fund, a subsidiary of Game Space, and aligned partnership with 8 leading wallets, DeFi, exchanges, DAO organizations and others to build a network of applications for the.did domain.
The first phase of KEY3.id ‘s domain is .did, where it creates a distinct competitive advantage compared to other DID projects in the industry, being permanently free, de-factionalized, supporting cross-chain, fair distribution and possess top-level support, 5 distinctive features which made it extremely adaptable to both users and partners.
5 Key Features of “Reasons to Believe”:
- Permanently Free
The .did domain is a free-to-claim, perpetual ownership, requires no renewal fee and an inclusive DID protocol dedicated to providing free, available and decentralized identities for every user who wants to enter Web3.
The .did domain was chosen intentionally to represent inclusivity and be differentiated from the current mainstream domain names from public chains such as .eth, .bnb, .sol, etc., which are incompatible with each other and form fragmented user groups.
- Supports Cross Chain
The .did domain supports cross-chain, a DID can be bound to multiple chain addresses to achieve multi-chain parsing, facilitating users with much more convenience.
- Fair Distribution
KEY3.id has opted for a fair distribution scheme of issuing premium domain names. KEY3.id has reserved short digital domain names with less than 5 digits and will subsequently distribute to users who contribute to the community, building through airdrops and auctions in a fair manner of which the proceeds from the auctions will be used to support project development.
- Top-level Support
KEY3.id has resources of leading partners in the industry and has quickly gained the support of many wallets including BitKeep Wallet, iToken Wallet, Bybit, KuCoin Wallet, Coinhub Wallet, Onto Wallet, Element.market and many other wallets, DeFi, exchanges, DAO organizations. With the support of many leading partners in the industry, KEY3.id can now provide free, fully autonomous and controllable DIDs to a broad audience of Web3 users without renewal fees, maximizing the digital identity that can be created and used by anyone who needs it.
“It’s been a difficult period unlike any other, but even in the face of incredible challenges in the bear market, we launched our project with grit and determination. The initial success in the community has given us great confidence to lead a new phase of Free to own DID, empowering users with a free DID experience at a low threshold, and breaking the circle to attract new users to enter Web3.” Said Kory Pak, CEO of KEY3.id.
From November 24th,2022, KEY3.id will launch luxury domains. Luxury domains will require fee charges, and at the same time, short domains with less than 5 digit domains for.did are reserved by KEY3.id and can be purchased through auction.
KEY3.id is a Decentralized Identity that lowers the entry barrier and uses a neutral term .did with the intention of being inclusive of the major ecosystems and not taking sides to encourage more existing and new users to enter Web3. .did is free to claim and permanently free to own without any fees for renewal. Users can create any .did and assign ownership to anyone they’d like, even set up their own registrar for their .did.