ENS Domains are hot on the Blockchain! Rally is selling shares of “105.eth” at $4.00 a share, with a total of 10,000 shares— What’s this mean for the culture? With the recent sale of “000.eth” at 300 Ethereum, the interest in three-digit ENS names is spiking despite current market conditions.
What is So Special About ENS Domains?
ENS is a decentralized domain name protocol that runs on the Ethereum network. Providing users with a digestible name such as “123.eth”- instead of a long-form, alphanumeric address for their crypto wallets; similar to the way DNS (Domain Name System) replaces numeric Internet Protocol addresses, for memorable names such as “wed3domains.com”.
Why is Rally Doing This?
Although many integrations for this technology exist, most ENS owners treat them as investments; purchasing popular names and selling them for a profit. This week Rally announced the sale of “105.eth”— launching Friday, July 15th, at noon EST. What is Rally?— “Rally is a platform for buying & selling equity shares in collectible assets. Together, we rally to make investing behind ideas, emotions, and communities safe, easy, and accessible. The result… A 21st Century Portfolio, for everyone.” Analysts noted ENS addresses are one of the more popular assets trading on the OpenSea market.
“Three and four-letter ENS names: they’re a fixed-supply asset *and* you can do things with them!”— VITALIK BUTERIN, Founder of Ethereum. The difference in value is less subjective, as an address like “nike.eth” is obviously more valuable than “gfci4432kfh.eth”.
Unlike Nike’s Web3 branch, RTFKT— who claimed “dotswoosh.eth” as their title moving forward– the “999 Club” is finite! Creativity cannot outdo the exclusivity of the “999 Club”.
The fractionalization of a high-value asset, like “105.eth”, allows smaller investors to be a part of the “999 Club”– by owning some of the 10,000 shares offered by Rally.
Soon, this may be the most affordable way for thousands of new users to claim a slice of the “999 Club”.
Lower ether and gas prices have incentivized investors to purchase and trade ENS addresses more now than ever. Learn more about “Rally” and how you can fractionally own assets at a fraction of the cost!
We should expect investors to capitalize on ENS Domains! So grab a good one while you can- even if it’s just a piece!