Ethereum Name Service (ENS) area 000.eth was offered for 300 ETH, roughly $315,000, on third July. This marked the second-largest buy denominated not simply in Ether but additionally in phrases of US Dollars.
Record-Breaking Sale
On-chain knowledge revealed that the ENS identify was offered by a consumer known as EtheOS on the OpenSea market who had obtained it in June 2020.
The ENS identify was first listed for 100 ETH in September 2021, then valued at round $300,000. The consumer re-listed the identify in January this 12 months for 500 ETH and as soon as once more in March. The supply was listed for three months earlier than being accepted. The newest sale stands second to the very best sale of 420 ETH of one other ENS identify – paradigm.eth – final October. It was valued at roughly $1.5 million at the moment.
For the uninitiated Ethereum Name Service, also called ENS, is a protocol that hyperlinks machine-generated codes to human-friendly names. It is Web3-friendly, open, decentralized, and not-for-profit naming system powered by the Ethereum blockchain. ENS’ domains are secured by way of good contracts.
These names are additionally NFTs and might be offered on well-liked marketplaces akin to OpenSea. According to stats, ENS is one of probably the most extensively built-in naming requirements with over 1.1 million names, 504 integrations, and over 400k homeowners.
Ethereum Naming System (ENS) has gained widespread adoption recently. Many distinguished personalities, together with Ethereum co-founder Vitalik Buterin, Coinbase’s Brian Armstrong, Shopify CEO Tobias Lütke, and Reddit co-founder Alexis Ohanian have added the .ETH extension to their names. Even well-liked A-listers akin to Jimmy Fallon, Paris Hilton, and Snoop Dogg have acquired Web3 identities on Ethereum.
Mystery Behind paradigm.eth
Last 12 months, an unknown pockets purchased the Ethereum area identify – paradigm.eth – for 420 ETH (round $1.5 million). Initially, many believed that crypto-dedicated VC big Paradigm was behind the costly buy. However, it denied these stories.
Crypto agency, Blockchain.com additionally introduced that it’ll enable its customers to say free “.blockchain” domains supported by Unstoppable Domains in June 2021 as a possible problem to Ethereum Name Service.
More not too long ago, the Open Network (TON) Foundation launched a brand new service – TON DNS – to allow customers to assign human-readable names to crypto wallets, good contracts, and web sites.
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