Emojis. The pictograms that are used around the world in order to fill emotional cues sometimes missing from conversations. They are used everywhere – from text messages to social media to web pages. Over four billion Internet users around the globe, and they all use the same emojis. They have truly become a global language. Emojis represent facial expressions, objects, places, weather, food and much more. Used both individually and in a string of emojis, they can capture emotions or tell a story.
Today, you can actually purchase these emojis, thanks to Yat.
As a domain brokerage service, we do more than just help you buy a domain, sell a domain, and protect your domains. We are going to walk you through a basic course on the up and coming Yat’s.
Lets Talk About Yats
Yats are the newest online craze.
Yat is a censorship-resistant internet identity system that enables everyone to use a personalized string of emojis as their universal username. Put simply, Yat is a website that allows anyone to buy a URL that includes emojis of their choice.
A Yat is also the name for that string of emojis. Essentially, a Yat is like your emoji username that is also your universal online identity. This identity can also be used as a website URL, payment address and much more. So, instead of a person being @johnsmith535 on Twitter, someone could be fire dragon or sun, whale, palm tree.
Many celebrities have hopped on the Yat craze. Kesha and Disclosure are two musicians who include a Yat in their Twitter bios. Both using the link to advertise their new music and tour merchandise. Sort of like a Linktree – where a link brings you to a simple webpage then links to more sites.
How Do You Own a Yat?
If you are interested in owning a Yat of your own, start with going to the Yat site. Make an account and search for the emojis you want! Users can choose from one to four or five emojis to make up their address. Then, you can purchase it. The price of your Yat is based on its age and its rarity, which is algorithmically determined.
Similar to the domain industry, the lower count of emojis there are, the more expensive they are. A four or five emoji identity could cost you $5. However, the highest selling Yat, the golden key emoji, cost $425,000.
What is Yat Trying to Do?
Although owning a string of emojis is cool in and of itself, there is more that Yat wants to do. Yat is being used more and more as a replacement for long digital currency addresses. Instead of having to type long URLs, you could just remember a user’s Yat. For example, if you are looking to send money to a friend – a user could send it to eye, love, ice cream instead of a long cryptocurrency address.
Currently, Yat’s are not NFT’s. However, they probably will be in the future. Yat CEO, Naveen Jain, says they plan to use blockchain technology to become assets issued on decentralized, distributed databases. According to the FAQ section of Yat’s site, the project is “working on developing an oracle service so that Yats can be issued as NFTs on EVM compatible chains such as Ethereum or BSC. A little further down the road, the underlying source of truth for Yats will become fully decentralized.”
However, you will not find big words like “blockchain”, “cryptocurrency” and “NFT” on their site. Why? Because Jain believes the average consumer would not care as much. He believes in a slow transition to decentralization. Additionally, Yats can not be purchased using cryptocurrency, they are purchased with dollars.
What Does This Mean for the Domain Industry?
The idea behind Yat was to create a single username that would link to all of a person’s online platforms. A single emoji or string of emojis that could direct internet users to their bank, social media handles and domain names.
Although Yats have not directly affected the domain industry just yet, it is possible. The more users that utilize Yats to link to their websites, the more domain names and social media handles could be connected to the emoji system.
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