Monday, January 30, 2023
  • Login
  • Register
  • About
  • Advertise
  • Contact
Web3 Domains℠
  • 🏠 Home
  • Web3 News
    • 📰 Technology
      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      What is the ENS Name Wrapper Post Graphic

      ENS Name Wrapper: Features, Benefits & Possibilities in Web3

      ENS Domains, Lost NFT Relics Post Graphics

      ENS Domains, Lost NFT Relics

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Integrations
      ENS Normalization Updates & Benefits

      ENS Normalization Updates & Benefits

      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      Using ENS With BTCPay Server (Guide)

      Using ENS With BTCPay Server (Guide)

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Culture
      ENS and Unstoppable Domains Comparisson

      ENS vs Unstoppable Domains

      Impulse Buying ENS Domains

      Impulse Buying ENS Domains

      Rebuilding Trust with Web3 Journalism

      Rebuilding Trust with Immutable-Web3 Journalism

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Ecosystem
      ENS Normalization Updates & Benefits

      ENS Normalization Updates & Benefits

      Lens Protocol Partners with ENS

      Lens Protocol Partners with ENS

      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Name Sales
      The Mystery 👨.eth Wallet Post Cover

      Mystery of the “👨‍🦲.eth” Wallet

      Brands are Racing to Secure their ENS Names

      Brands Racing to Secure Their ENS Names!?

      SIGNVM Onboards Hublot into ENS Post Coveer

      SIGNVM Onboards Hublot into ENS

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Security
      #4 Web3 Security Practices Post Cover Graphics

      Web3 Security Best Practices: Part 4

      #3 Web3 Security Practices Post Cover Graphics

      Web3 Security Best Practices: Part 3

      #2 Web3 Security Practices Post Cover Graphic

      Web3 Security Best Practices: Part 2

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
  • Web3 Identity
    • Step 1️⃣ Mint or Buy Web3 Name
    • Step 2️⃣ Set Primary Usernames
    • Step 3️⃣ Set Avatar Profile-Pict
    • Step 4️⃣ Add Other Text Records
    • Step 5️⃣ Add Crypto Addresses
    • Step 6️⃣ Use IPFS/TOR Websites
  • Web3 Forums
    • 🔐 Security + Privacy Tips
    • 🛠 Web3 Tools/Resources
    • ⚖️ Web3 Law/Legal Topics
    • 🕸 ICANN/DNS as Web3
    • 🦾 SIWE + Integrations
    • ♣︎ Domain Name Clubs
  • Web3 Marketcap
    • 💵 $ENS Token
    • 💸 $ENS Charts
en_US English
en_US English es_ES Spanish fr_FR French zh_CN Chinese de_DE_formal German ar Arabic pl_PL Polish it_IT Italian pt_BR Portuguese
No Result
View All Result
Web3 Domains℠
  • 🏠 Home
  • Web3 News
    • 📰 Technology
      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      What is the ENS Name Wrapper Post Graphic

      ENS Name Wrapper: Features, Benefits & Possibilities in Web3

      ENS Domains, Lost NFT Relics Post Graphics

      ENS Domains, Lost NFT Relics

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Integrations
      ENS Normalization Updates & Benefits

      ENS Normalization Updates & Benefits

      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      Using ENS With BTCPay Server (Guide)

      Using ENS With BTCPay Server (Guide)

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Culture
      ENS and Unstoppable Domains Comparisson

      ENS vs Unstoppable Domains

      Impulse Buying ENS Domains

      Impulse Buying ENS Domains

      Rebuilding Trust with Web3 Journalism

      Rebuilding Trust with Immutable-Web3 Journalism

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Ecosystem
      ENS Normalization Updates & Benefits

      ENS Normalization Updates & Benefits

      Lens Protocol Partners with ENS

      Lens Protocol Partners with ENS

      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Name Sales
      The Mystery 👨.eth Wallet Post Cover

      Mystery of the “👨‍🦲.eth” Wallet

      Brands are Racing to Secure their ENS Names

      Brands Racing to Secure Their ENS Names!?

      SIGNVM Onboards Hublot into ENS Post Coveer

      SIGNVM Onboards Hublot into ENS

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
    • 📰 Security
      #4 Web3 Security Practices Post Cover Graphics

      Web3 Security Best Practices: Part 4

      #3 Web3 Security Practices Post Cover Graphics

      Web3 Security Best Practices: Part 3

      #2 Web3 Security Practices Post Cover Graphic

      Web3 Security Best Practices: Part 2

      Trending Tags

      • Tips
      • Sales
      • Guides
      • Identity
      • Domains
      • 999 Club
  • Web3 Identity
    • Step 1️⃣ Mint or Buy Web3 Name
    • Step 2️⃣ Set Primary Usernames
    • Step 3️⃣ Set Avatar Profile-Pict
    • Step 4️⃣ Add Other Text Records
    • Step 5️⃣ Add Crypto Addresses
    • Step 6️⃣ Use IPFS/TOR Websites
  • Web3 Forums
    • 🔐 Security + Privacy Tips
    • 🛠 Web3 Tools/Resources
    • ⚖️ Web3 Law/Legal Topics
    • 🕸 ICANN/DNS as Web3
    • 🦾 SIWE + Integrations
    • ♣︎ Domain Name Clubs
  • Web3 Marketcap
    • 💵 $ENS Token
    • 💸 $ENS Charts
No Result
View All Result
Web3 Domains℠
No Result
View All Result
Home Ecosystem

ENS: The Rise of Crypto Domains in Web3

Use-cases, Integrations, Development and Market Updates of ENS

448.eth by 448.eth
July 19, 2022
in Culture, Ecosystem, Technology
Reading Time: 6 mins read
0 0
A A
Donate
0
The Rise of Crypto Domains in Web3 Post Cover Graphic
Share via EmailShare on TwitterShare on LinkedInShare on FacebookScan for URL

Ethereum Name Service (ENS) is a decentralized naming service on Ethereum.

ENS was launched in May 2017 just before Crypto Punks. 5 years forward ENS has the largest community, most use-cases, and integrations and makes up more than 99% of crypto domain trading volume. ENS reached the 1 million domain milestone on its 5th birthday (May 4, 2022 ). Just 2 months later there are more than 1.7 million ENS names registered!

Screenshot of ENS founder's tweet about the millionth ENS registered "winnersclub.eth"
Source: twitter.com/nicksdjohnson/status/1521967014453321728

ENS resembles conventional domain names such as hope.com (or hope.eth in the case of ENS). People are somewhat familiar with Web2 domains and also the importance of cool username handles. There are similarities between .com & .eth domains, but additional use-cases and value propositions make ENS domains even more interesting. While Web2 domains are mostly for companies, crypto domains are mainly used by individuals to replace long crypto wallet addresses with human-readable names: 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045 → vitalik.eth

Domains are intuitive. It’s fairly easy [without any prior crypto knowledge] to understand that “john.eth” is cool, but “bad-example-420.eth” is not.  Domain value is often based on its occurrence and linguistic meaning in society. But don’t worry, it doesn’t stop there! You can actually make use of your ENS domains:

  • Payments (use your ENS domains to receive almost any cryptocurrency)
  • Website (host decentralized, secure, free IPFS website on ENS)
  • User profile (store your avatar, bio, email, socials etc.)
  • Identity and flex (owning cool ENS means you are either rich or early)
  • Naming infrastructure (Decentraland is using subdomains of dcl.eth as their in-game tradable usernames)
  • Tickets or access tokens (ticket-69–2022.festival.eth)

ENS has been around for 5 years, has many use-cases, and is embraced by celebrities and brands (Puma, Coca-Cola, Gucci, Chipotle, and others), but there had to be something else for them to really take off.

Screenshot of .eth Twitter leaderboard
Source: ethleaderboard.xyz

Fixed Supply ENS Collections

Interestingly enough short digit & letter ENS domains were still available for registration before May 2022. The main reason is the high annual fees for 3 & 4-character ENS domains ($640 & $140/year). It’s a lot cheaper to hold 5+ character domains which are only $5/year.

Screenshot of Ethereum founders tweet about ENS three and four letter ENS names
Source: twitter.com/VitalikButerin/status/1291872461487607808

The one thing that ENS lacked in comparison to most other NFTs is fixed supply collections. There can be an infinite number of character combinations and valuing them correctly is not an easy task to do. There was a need for rarity and liquidity in ENS secondary market. As there are no 1 & 2-character ENS domains, the most obvious fixed supply collection is 3-digit combinations from 000–999. Funnily enough, vitalik.eth, the creator of Ethereum, saw the value of 3 & 4-character ENS domains almost a year before others really took off.

With more awareness coming to ENS, 3-digits got registered, and soon after there was an active secondary market for The999 Club. It was finally possible to have liquidity and floor price for ENS domains. The concept of fixed supply was crucial for new market participants to appraise ENS domains and speculate in the secondary market.

After the success of The 999, all 4-digits were quickly registered. Soon after new clubs were born such as 3-letter, 5-digits, Pokemon, Harry Potter, and even other exotic digit clubs such as Arabic 999 Club. These newly made clubs allowed for any type of investor to buy in and join like-minded individuals. In the meanwhile ENS community saw record-breaking sales in a short period of time.

Screenshot of last 30 day top sales
Source: ens.vision

ENS Awareness

Major sales and volume made headlines. While most cryptocurrencies and NFTs were in a bear market, it was easy to notice the success of ENS. Despite the uncertainty in financial markets early investors rejected multiple 6-figure offers (420.eth / 100.eth / porn.eth) and even 1 million $ offers (coin.eth / amazon.eth). On July 4, 2022, ENS ranked as the number one NFT collection by volume.

Screenshot of daily volume on July 4
Source: twitter.com/448_eth/status/1543887764965425156

New members = new innovations! The recent digit and club craze were largely fuelled by ENS VISION – an amazing tool that helps to search and browse ENS domains. They also just launched the first ENS dedicated marketplace. There are other ENS tools out there (Esteroids, Skiff, Nimi) or soon to be launched.

Fundamental improvements are coming to ENS subdomains (subdomain.domain.eth / john.gucci.eth for example). It will be possible to register subdomains for virtually free and also sell them as individual NFTs. The underlying technology opens a lot of possibilities for individuals and companies to build on.

We are still early so buckle up frENS!

***

I’m 448.eth. This is my first article. I buy & sell domains and tweet about ENS daily. Make sure to follow me to stay up to date and learn more about ENS 🙂

Twitter — @448_eth

Tags: 999 ClubDomainsENSIdentityMarketplaceSales
SendTweetShareShareScan

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
448.eth

448.eth

I'm 448.eth, active ENS community member, domain buyer & seller. Follow me on Twitter for ENS daily updates!

Related Posts

ENS Normalization Updates & Benefits
Ecosystem

ENS Normalization Updates & Benefits

by Flossin.eth
January 26, 2023
24
ENS and Unstoppable Domains Comparisson
Culture

ENS vs Unstoppable Domains

by PhoenixxDown.eth
January 24, 2023
39
Impulse Buying ENS Domains
Culture

Impulse Buying ENS Domains

by Shash Pyakuryal
December 20, 2022
30
Lens Protocol Partners with ENS
Ecosystem

Lens Protocol Partners with ENS

by Method
December 8, 2022
98
Rebuilding Trust with Web3 Journalism
Culture

Rebuilding Trust with Immutable-Web3 Journalism

by Shash Pyakuryal
December 1, 2022
41

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Web3 Domains℠

Web3 Domains℠ creates content about decentralized domains, distributed websites, & Web3-usernames. Learn about Web3 security, & Web3 privacy.

Follow Us Across Social

Recent Posts

  • ENS Normalization Updates & Benefits
  • ENS vs Unstoppable Domains
  • Impulse Buying ENS Domains
  • Mystery of the “👨‍🦲.eth” Wallet
  • Lens Protocol Partners with ENS

Web3 Topics

  • Web3 Market Cap
  • $ENS Web3 Token
  • Name Showcase
  • Ecosystem
  • Name Sales
  • Security

Subscribe To Our Newsletter

*We won't sell your email or send spam.
  • About
  • Advertise
  • Contact

Web3 Domains℠ & Web3Domains.com © 2023 TechnoRealism, Inc., UCC § 1-308 | Privacy

No Result
View All Result
  • 🏠 Home
  • Technology
  • Integrations
  • Culture
  • Ecosystem
  • Name Sales
  • Security
  • Web3 Forums
    • Get Started w/ ENS
  • en_USEnglish
    • arArabic
    • zh_CNChinese
    • fr_FRFrench
    • de_DE_formalGerman
    • it_ITItalian
    • pl_PLPolish
    • es_ESSpanish
    • pt_BRPortuguese

Web3 Domains℠ & Web3Domains.com © 2023 TechnoRealism, Inc., UCC § 1-308 | Privacy

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

en_USEnglish
es_ESSpanish fr_FRFrench zh_CNChinese de_DE_formalGerman arArabic pl_PLPolish it_ITItalian pt_BRPortuguese en_USEnglish
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy & Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version