Web3 is addictive. Once you taste it, you realize how plain Web2 is. As you dive deeper into crypto, you find out crazy new products that you should have. At that point, Ethereum Name Service (ENS) is one of the best projects that combines NFT ownership and domain services in Web3.
There are some critical points that we need to keep in mind.
- There are 1,497,999 ENS in total.
- More than 445K ENS owners.
- The most expensive one was sold for $45k (8888.eth)
Source
$45k for a unique NFT is nothing in crypto ecosystem when we consider the prices of BAYC, CryptoPunks and some other community NFTs. Imagine you own nike.eth, adidas.eth, binance.eth, will you sell these domains for $45k? 🤣
NO WAY!
Let's chance the perspective, imagine you are a crypto-friendly restaurant named Star something. Your customers send crypto to star.eth and/or visit your star.eth domain to explore your business. Does not it sound amazing?
The median price of last week was $77. In a casual bull-run, it is the amount of money we pay to provide liquidity or initiate 2-3 actions on the Ethereum mainnet. Owning something .eth will eliminate complicated wallet addresses, and gain value as people rush into these scarce assets and this is more than jpg NFTs with its incredible use cases.
Still in Early Phases
The rush into ENS is not something new. However, it is forgotten by millions of people due to market conditions and other hypes + LUNA-triggered suffers.
The two-letter domains are sold out; people are buying domain NFTs with flag like crazy.
Visit ENS Collection on Opensea:
for example, you can own 284.eth with Canada's flag on it for just 0.003 ETH. Absolutely under-rated if you consider 1.5M limited supply and half million people who are interested in the project.
I'm not jealous of crypto-millionaires but I'm jealous of two guys.
The ones who own idiosyncratic.eth and rekt.eth NFTs.
Khal, I have some bad news mate.
Someone has leofinance.eth for 1 ETH. Sounds cheap to be honest. We may make an offer for that 😉