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Ethereum Name Service Sells for Second-Highest Price Ever of 300 ETH

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Despite the crypto winter, acquiring an Ethereum-native domain name has not taken a back seat.

Ethereum Name Service (ENS) domain 000.eth was sold for 300 ETH, roughly $315,000, on 3rd July. This marked the second-largest purchase denominated not just in Ether but also in terms of US Dollars.

Record-Breaking Sale

On-chain facts revealed that the ENS call became sold by using a user known as EtheOS at the OpenSea marketplace who had obtained it in June 2020.

The ENS call was first listed for 100 ETH in September 2021, then valued at round $300,000. The person re-indexed the call in January this year for 500 ETH and all over again in March. The offer was indexed for 3 months before being established. The modern day sale stands second to the very best sale of 420 ETH of some other ENS name – paradigm.Eth – last October. It was valued at approximately $1.5 million at that point.

For the uninitiated Ethereum Name Service, additionally known as ENS, is a protocol that hyperlinks device-generated codes to human-pleasant names. It is Web3-friendly, open, decentralized, and no longer-for-profit naming device powered with the aid of the Ethereum blockchain. ENS’ domains are secured through smart contracts.

These names also are NFTs and may be offered on famous marketplaces such as OpenSea. According to stats, ENS is one of the most widely integrated naming standards with over 1.1 million names, 504 integrations, and over 400k owners.

Ethereum Name Service (ENS)

Ethereum Name Service (ENS) has received full-size adoption recently. Many outstanding personalities, which includes Ethereum co-founder Vitalik Buterin, Coinbase’s Brian Armstrong, Shopify CEO Tobias Lütke, and Reddit co-founder Alexis Ohanian have brought the .ETH extension to their names. Even famous A-listers such as Jimmy Fallon, Paris Hilton, and Snoop Dogg have received Web3 identities on Ethereum Name Service.

Mystery Behind Paradigm.Eth

Last year, an unknown wallet sold the Ethereum area name – paradigm.Eth – for 420 ETH (round $1.5 million). Initially, many believed that crypto-devoted VC giant Paradigm turned into behind the highly-priced purchase. However, it denied those reports.

Crypto company, Blockchain.Com additionally announced that it’ll allow its customers to say free “.Blockchain” domain names supported with the aid of Unstoppable Domains in June 2021 as a capacity task to Ethereum Name Service.

More recently, the Open Network (TON) Foundation released a new service – TON DNS – to enable customers to assign human-readable names to crypto wallets, clever contracts, and web sites.

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