On 3rd July, domain 000.eth, Ethereum Name Service (ENS), was sold for 300 ETH. That’s roughly $315,000 This was the second largest purchase in Ether, as well as in US Dollars.
Record Breaking Sale
On-chain data showed that the ENS name was purchased by EtheOS, an OpenSea market user who had acquired it in June 2020.
In September 2021, the ENS name was listed for 100 ETH. It was then valued at approximately $300,000. In September 2021, the name was first listed for 100 ETH. It was then valued at around $300,000. The user listed the offer for three months before it was accepted. This sale is second in a series of 420 ETH sales of another ENS name, paradigm.eth. It was completed last October. It was worth approximately $1.5million at the time.
The Ethereum Name Service (also known as ENS) is a protocol that links machine generated codes to human-friendly name. It is Web3-friendly and powered by Ethereum blockchain. Smart contracts secure domain names of ENS.
These names can also be NFTs and sold on popular marketplaces like OpenSea. Statisticians claim that ENS is the most integrated naming standard with more than 1.1 million names, over 504 integrations and over 400k owners.
The Ethereum Naming System has seen widespread acceptance in recent years. Numerous prominent figures, including Vitalik Buterin (Ethernet co-founder), Coinbase CEO Brian Armstrong, Tobias Lutke (Shopify CEO), and Alexis Ohanian (Reddit cofounder) have added the extension.ETH to their names. Web3 identities have been acquired by even A-listers like Jimmy Fallon, Paris Hilton, Snoop Dogg, and many others.
The Mysteries Behind the paradigm.eth
An unknown wallet purchased the Ethereum domain name paradigm.eth for 420 ETH (around $1.25 million) last year. Many believed at first that Paradigm, a crypto-dedicated VC company, was behind the purchase. It denied these reports.
Blockchain.com, a crypto firm, announced that its users will be able to claim “.blockchain” domains supported by Unstoppable Domains starting June 2021. This is a potential challenger to Ethereum Name Service.
The Open Network (TON Foundation) recently launched TON DNS, a new service that allows users to assign human-readable names crypto wallets, smart contract, and websites.
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