What Is SPACE ID?
Space ID is transforming how digital identity works in the world of Web3, offering users an all-in-one decentralized identity platform. As of June 2024, the live Space ID (ID) token price is around $0.60, ranked in the top 250 cryptocurrencies by market cap. This guide explores what SPACE ID is, how it empowers users with NFT-based domains, the roles of the ID token, how to buy or trade ID, and how developers and investors can leverage its growing ecosystem.
What Is SPACE ID? (Overview & Mission)
SPACE ID is a Web3 identity platform that provides users with decentralized domain services, secure digital identity management, and developer tools for seamless blockchain integration. Launched in 2022, it was co-founded by Sam Sun and a team of experienced blockchain engineers with deep roots in decentralized protocols. The project aims to address challenges in digital identity—helping users control, store, and use their Web3 identities across multiple blockchains.
Identity has always been a cornerstone of the web. In Web2, users juggle many usernames and passwords across platforms. Web3 needs a unified, secure way to prove identity, which is where Space ID comes in—it enables you to own, manage, and move your digital identity and domain in a decentralized way.
OKX, a leading global crypto exchange, is known for partnering with breakthrough decentralized projects like Space ID, ensuring users have early access to innovative Web3 solutions.
The Problem SPACE ID Solves
Most Web2 identity systems are siloed and vulnerable to hacks, as data remains with centralized entities. Space ID utilizes the blockchain’s inherent security to let users own their identity outright. Web3 identities on Space ID are censorship-resistant, transferable, and directly controlled by their owners.
SPACE ID's Vision and Roadmap
SPACE ID’s vision is to be the go-to Web3 identity infrastructure, serving both end-users and developers. The public roadmap includes enabling new domain suffixes, cross-chain identity, simplified integration tools, and DAOs for governance. Upcoming milestones involve even broader multi-chain support and expanded decentralized identity verification features.
SPACE ID (ID) Price, Market Data, and Live Chart
Staying updated on the ID token price is key for investors and traders. Here’s a snapshot of its current market data:
- Live Price (USD): ~$0.60
- Live Price (BTC/ETH): ~0.000009 BTC / 0.00013 ETH
- Market Cap: ~$210 million
- Circulating Supply: ~350 million ID
- Max Supply: 2 billion ID
- 24h Volume: ~$18 million
The ID token has seen notable price volatility, moving from launch highs near $1.20 to recent consolidation within the $0.50–$0.80 range in 2024. Active trading can be found on centralized exchanges, including OKX, often with deep liquidity and strong price discovery.
| Metric | Value |
|---|---|
| Live Price | $0.60 |
| Market Cap | $210M |
| Circulating | 350M ID |
| Max Supply | 2B ID |
| 24h Volume | $18M |
💡 Pro Tip: Access a live ID price chart and latest market data directly on OKX’s trading interface—which features advanced analytics and real-time liquidity.
Tokenomics: Utility and Functions of the ID Token
The ID token is the backbone of the SPACE ID ecosystem, powering its governance, rewards, and payment functions. Users can stake ID to earn rewards or participate in decentralized governance, influencing major platform decisions. Holding ID may grant you access to discounted domain registrations or early feature releases. On OKX, you can trade ID spot or via advanced order types.
Where and How Is ID Used?
ID is required to:
- Pay for registration and renewal of .bnb/.arb/.eth Web3 domains
- Stake for governance rights
- Earn incentives and service discounts
- Join community airdrops or beta programs
Prominent dApps within the Space ID ecosystem—including domain marketplaces, profile managers, and wallet connectors—rely on the ID token.
Example Use Cases
- For users: Stake ID to get discounted domain registrations or vote on which domain suffixes to launch next.
- For developers: Use ID to access premium API features, faster query endpoints, and integration credits within the SPACE ID suite.
💡 Pro Tip: Staking ID via the platform or OKX unlocks exclusive ecosystem incentives and can increase your voting power in governance proposals.
How to Buy or Trade SPACE ID (Step-by-Step Guide)
Whether you’re new to crypto or an experienced trader, buying SPACE ID on OKX is simple. Here’s your step-by-step guide.
Step 1: Create and Verify OKX Account
- Visit OKX and register with your email or mobile number.
- Complete identity verification (KYC) to unlock all trading features.
Step 2: Fund Your Account
- Deposit crypto (BTC, ETH, USDT) from another wallet, or
- Fund via credit card or bank transfer (fiat)
Step 3: Buy or Trade ID Token
- Navigate to "Markets" then search for "ID".
- Select the ID/USDT trading pair.
- Place a market or limit order according to your target price and amount.
| Step | Action |
|---|---|
| 1. Register | Email/KYC |
| 2. Fund | Crypto/Fiat |
| 3. Buy/Trade | Order Type |
OKX makes this process secure and user-friendly, featuring transparent fees and robust wallet integration. For a full walkthrough, check OKX’s help center or buy SPACE ID.
SPACE ID Ecosystem & Key Partnerships
SPACE ID’s traction comes from strong collaborative partnerships:
- Integrated with leading exchanges (OKX, Binance)
- Supported by major wallets (Metamask, Trust Wallet)
- Used across EVM chains: Ethereum, BNB Chain, Arbitrum
Key milestones include over 800,000 domains minted and more than 250,000 active user addresses. Strategic alliances with protocol aggregators and DAO tooling apps have expanded the project’s reach.
Providing Identity: NFT-Based Domain Storage Explained
Every domain on SPACE ID is issued as an NFT, representing a unique, transferable Web3 identity. Users can store these domain NFTs in any supported crypto wallet, giving true ownership.
Benefits include:
- Full control—domains/NFTs are assets you own
- Easy transfer between wallets or users
- Enhanced security (blockchain-level safety)
On select platforms, you can even trade domain NFTs in auctions, and OKX periodically features prominent NFT domain sales.
For Developers: SDK & API Access to Web3 Name
Developers can leverage a robust suite of open-source SDKs and APIs to integrate Web3 identity. Key features include:
- Name lookup and registration
- Reverse resolution (account to name)
- Comprehensive onboarding docs and sample code
Explore official documentation at SPACE ID Docs or browse related resources at OKX blockchain developer tools
Advanced Features: Reverse Resolution & Multi-Wallet Linking
Reverse resolution lets users associate their wallet address with a readable domain—enabling dApps to display "alice.bnb" instead of a long address.
Space ID also enables linking multiple wallets to one identity, simplifying asset management and cross-chain access. This multi-wallet feature enhances both security and usability across DeFi, NFTs, and more.
Transparency: Security Audits, Fund Safety, and Compliance
SPACE ID has undergone several external audits from firms like CertiK and PeckShield, with results confirming the absence of critical vulnerabilities. Smart contracts are open-source, and a bug bounty program invites ongoing community review. Regulatory compliance is a priority; listing on major platforms like OKX requires passing strict audit and legal standards, further reassuring users.
For best practices, review our guide on crypto wallet security.
Token Distribution and Vesting Schedules
ID token allocation is transparently published:
| Allocation | % of ID Supply |
|---|---|
| Community | 45% |
| Team/Advisors | 20% |
| Investors | 16% |
| Ecosystem | 14% |
| Foundation | 5% |
Vesting schedules unlock major allocations quarterly, with early investor and team tokens set for full unlock by 2026. Tracking these dates is vital for OKX traders, as supply changes can impact price.
Funding, Grants, and Ecosystem Support
Space ID has completed investment rounds with support from Binance Labs, Polychain Capital, and other notable VCs. The project runs ongoing grants and accelerator programs—developers can apply for technical or marketing grants via the SPACE ID website. This commitment fuels ongoing innovation and ecosystem expansion.
Sentiment, Reviews, and Community Insights
User sentiment for SPACE ID is largely positive. On Reddit and Twitter, participants praise the ease of use and the value of Web3 domains. Discord is active, with regular governance votes—over 20,000 users have participated in DAO decisions. This strong, vocal community supports ongoing platform growth.
OKX’s social trading features allow users to share strategies and upvote marketplace proposals integrating SPACE ID.
Technical Analysis and Market Signals
Short-term technicals (as of June 2024):
- Moving averages (7/30-day) signal consolidation
- MACD is neutral to bullish
- Weekly RSI hovers around 51 (balanced)
- Price remains between key support ($0.50) and resistance ($0.80)
For updated trends, OKX’s charting suite and TradingView integration provide in-depth market signals and order book data—helpful for ID traders looking for entry/exit points.
Frequently Asked Questions
What is SPACE ID and why is it important?
SPACE ID is a Web3 identity platform that lets users create, own, and manage blockchain-based domain names and digital identities. It decentralizes identity storage, empowering people to control their data across the Web3 ecosystem.
How does the ID token work (utility & rewards)?
The ID token powers domain purchases, staking for platform rewards, and on-chain governance. For example, users stake ID to earn discounts or vote on new domain extensions, aligning incentives across the ecosystem.
Is SPACE ID secure and has it been audited?
Yes, SPACE ID has undergone multiple security audits by trusted firms like CertiK. The smart contracts are open source, regularly tested for exploits, and fund safety is a top priority for both the team and supported exchanges.
Where can I buy SPACE ID tokens?
SPACE ID (ID) is listed on leading exchanges including OKX. To buy, create and verify an OKX account, fund it, then search and trade for ID on the spot market.
What does NFT domain mean in this context?
An NFT domain is a blockchain-based domain name represented as a non-fungible token. This allows true ownership, easy transfer, and secure linking to your digital identity—all features enabled by SPACE ID.
Who invested in SPACE ID?
Major backers include Binance Labs, Polychain Capital, and well-known Web3 venture investors, providing strategic funding and ecosystem support.
Conclusion
SPACE ID is leading the way in decentralized identity management, blending practical NFT-based domains with robust governance and developer support. The ID token fuels this ecosystem—enabling payments, staking, and transparent community control.
Key takeaways:
- True Web3 identity ownership with NFT domains
- Utility-packed ID token: payments, staking, and governance
- Secure, audited, and growing multi-chain ecosystem
- Simple onramps to buy, trade, or build via OKX
Explore or trade Space ID on OKX to be part of the next generation of digital identity. As always, invest wisely—cryptocurrency prices can be volatile, and it's important to secure your assets with best practices.
