Ethereum Name Service, or ENS, .eth domains varying from 0000 to 9999 have lately been creating a stir among NFT investors, speculators and enthusiasts alike. Despite the fact that three- and 4-digit names have been in existence for a long time, the amount of people subscribing to ENS domains and getting these digit number names on secondary markets in the last week has considerably affected the market’s buying and selling volume.
According to some Dune Analytics dashboard for ENS, the spike in sales started on April 21, and the amount of eth. name registrations has since leaped from 2,721 to 21,188 by April 28. During the last seven-day period, ENS domains’ buying and selling volume on OpenSea rose by 3,333% to 2,613 ETH, or $7.3 million, during the time of writing. The last 48 hrs have experienced probably the most ENS NFT buying and selling within the secondary market most abundant in costly domain to date, “555.eth,” selling for 55.5 ETH, or $156,821.91, on April 28.
congratulations towards the new owner https://t.co/hFL6eswQxI
— ENS Sales Bot (@EnsSales) April 28, 2022
Each ENS web name is definitely an NFT that’s minted and offered like every other nonfungible token. These decentralized domains that finish in .eth can behave like Ethereum wallet addresses, cryptographic hashes and website URLs. As decentralized applications, wallets, exchanges and marketplaces more and more support NFT usernames, whether from ENS or from competitors like Unstoppable Domains, Web3 users are embracing the worth that may be associated with an electronic identity.
Holders who’ve scooped up ENS names from -9999 have created a unique Discord funnel known as the 10kClub. During the time of writing, over 3,000 ENS holders had became a member of this social club. People even produced a refrain which was continuously published through the Discord chat stating, “I AM MY Figures AND MY Figures ARE ME.” According towards the 10kClub Twitter page, there’s no roadmap.
Consequentially, the application.ens.domains website continues to be crashing earlier this week and leading users to a 404 error page since the website could not be located on the server. On April 29, the ENS team tweeted multiple occasions that they’re trying to resolve the problem.
Appears like our host continues to be battling. Please use our IPFS links in the meantime although we straighten out the answer.https://t.co/5MtOsePsJDhttps://t.co/6XDCXtYojy https://t.co/Xvgs8bdhiq
— ens.eth (@ensdomains) April 29, 2022
Related: The idea and way forward for decentralized Web3 domains
Not only individuals but additionally famous labels and corporations have lately registered their names with Ethereum Name Service, for example Puma and Budweiser.