The non-fungible token collection caused a stir among NFT investors and speculators alike. ENS released 10,000 four-digit.eth domains ranging in value from 0000 to 99999. The market’s trading volume has been significantly affected by the ten thousand ENS names that were sold in one day.
A Dune Analytics dashboard for ENS shows that the spike in sales started on April 21 and that the number of eth. Name registrations have risen from 2,721 to 21,188 between April 21 and 28. The trading volume of ENS domains on OpenSea has increased by 3,333% to 2,613 ETH (or $7.3 million) in the seven days since the beginning of April. In the last 48 hours, the highest volume of ENS NFT trading on the secondary market, with “008.eth”, the most costly domain, sold for 20 ETH (or $56,125) on April 29.
008.eth bought for 20.0 ETH on OpenSea #domains $ENS https://t.co/XXfVcoFi8X
— ENS Sales Bot (@EnsSales) April 29, 2022
Each ENS web address is an NFT. It is minted and traded like any other non-fungible token. These domains ending in.eth act as Ethereum wallet addresses, cryptographic hashes, and website URLs. Web3 users embrace the digital identity that is possible with NFT usernames as decentralized applications, wallets and exchanges become more compatible with ENS.
Holders who have accumulated ENS names starting at 0-999999 have created a Discord channel called 10kClub. Nearly 4,000 holders of ENS had joined the social club at the time this article was written. Discord chat members even posted a refrain saying, “IAM MY NUMBERS and MY NUMBERS are ME”. According to the Twitter account of 10kClub, there is no roadmap.
The app.ens.domains website crashed this week, resulting in a 404 error page. This is because the website could not be found on the server. Multiple times, the ENS team stated via Twitter that they were working to fix the problem on April 29.
It looks like our host is still having problems. Please use our IPFS links in the mean time whilst we sort out a better solution.https://t.co/5MtOsePsJDhttps://t.co/6XDCXtYojy https://t.co/Xvgs8bdhiq
— ens.eth, April 29, 2022 (@ensdomains).
Related: Future and concept of decentralized Web3 domains
Not only individuals, but also corporations and major brands have registered their names with Ethereum Name Service.
Eileen Wilson –Technology and Energy
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