The Memecoin phenomenon known as Floki Launches NameService has announced that its Name Service is now operational on the BNB Chain’s mainnet.
FLOKI Expanding Use
The Floki Name Service allows anyone to generate a decentralized domain name ending in .floki. Domain names ending in. Floki can represent on-chain identities and more. According to the project’s page, domain names will be available for building a decentralized website, blog, or resume when the service launches soon.
The team responsible for developing the name service used the SPACE ID infrastructure. This protocol enables the integration of some of the most significant Decentralized Applications (DApps) in the cryptocurrency sector, including Trust Wallet, SafePal, PancakeSwap, OKX Wallet, and similar services.
Utilizing the Floki Launches NameService token, the platform’s native token, is the primary means of payment for this service. This new development has a favorable impact not only on the practicality of digital money but also on the principles of the Floki ecosystem.
The project stated in the cost breakdown description included in its article that it would charge 160,000 FLOKI, equivalent to around $42.79 each year, for a four-character domain name. Users must spend 660,000 FLOKI, equivalent to $176.49 annually, to obtain a domain name containing three characters.
With an active growth and value-addition strategy. The meme coin is currently ranked as one of the top meme coins in the industry to be considered. A plan to challenge the supremacy of its most direct competitor. Shiba Inu (SHIB) is the introduction of the Name Service. In addition, it is essential to note that Shiba Inu has launched its name service, and users have very well received users have received. Shib domain namesvery well.
Value Addition and Price Impact
The currency is growing in value due to the increased utility gained by users who are members of the meme coin ecosystem. As was previously reported by Coingape, Floki has introduced a trading bot to provide users with increased accessibility. Within tokenization, the Floki memecoin project is also making considerable progress. Ahead of BlackRock and Securitize, Floki is working on this. To secure a market share in the $16 trillion tokenization ecosystem with its TokenFi platform. Floki’s goal is to secure a market share in the tokenization ecosystem.
In terms of the ecosystem, this might potentially increase the token’s price, which would have a significant effect. With the ongoing burning campaign, there is a possibility that the token will experience an even more substantial decrease in value. In the meantime, the price will need to clear off its current dip before. It can wait for when it will pick up a new rally. At the time of this writing, the value of Floki Launches NameService has decreased by 5.82% over the previous twenty-four hours, reaching $0.0002633. If the Name Service upgrade spreads across its ecosystem, the return that is so desperately needed may be recorded.
