Despite "Cryptowinter," Blockchain Investors Still Registering Ethereum-Specific gTLDs
While many companies were deterred by the cryptowinter, blockchain investors have not lost impetus in registering Ethereum-specific gTLDs.
On 3rd July, the ENS domain 000.eth was sold for 300 ETH, or roughly $315,000. This was the second-largest purchase denominated not only in Ether but also in US dollars.
In 2016, an art collector bought a painting for $200 million.
The OpenSea marketplace revealed that the ENS name was sold by a user called EtheOS in June 2020 who had received it.
The ENS name was first listed for 100 ETH in September 2021, and was valued at around $300,000. The user re-listed the name in January this year for 500 ETH, and again in March. The offer was listed for three months before being accepted. At that time, the latest sale of another ENS name - paradigm.eth - stood second to the highest sale of 420 ETH from it last October.
The Ethereum Name Service (ENS), also known as the Ethereum Naming Service, is a protocol that allows for machine-generated codes to be linked to human-readable names. It's Web3-compatible, open, decentralized, and non-profit. ENS' domain names are secured via smart contracts.
The stats show that ENS, a naming standard, is one of the most widely used systems for naming with over 1.1 million names, 504 integrations and over 400k owners.
Ethereum Naming System (ENS) has been widely adopted lately. Many prominent personalities, including Ethereum co-founder Vitalik Buterin, Coinbase's Brian Armstrong, Shopify CEO Tobias Lütke and Reddit co-founder Alexis Ohanian have added the .ETH extension to their names. Even popular A-listers such as Jimmy Fallon, Paris Hilton and Snoop Dogg have acquired Web3 identities on Ethereum.
The mystery behind paradigm.eth
Last year, an unknown wallet purchased the Ethereum domain name - paradigm.eth - for 420 ETH (around $1.5 million). At first, many thought that crypto-focused venture capitalist company Paradigm was behind the expensive purchase. But it denied those rumors.
In June 2021, Blockchain.com announced that it will allow its users to claim free "blockchain" domain names supported by Unstoppable Domains as a potential challenge to Ethereum Name Service.
The Open Network (TON) Foundation recently unveiled a new service - TON DNS - that enables users to assign human-readable names to crypto wallets, smart contracts, and websites.