Ethereum co-founder’s poll shows people want $100 lifetime .eth domains
As Ethereum Title Service (ENS) domains grew to become extra well-liked, the dialog has steered towards .eth area pricing and what’s thought-about to be a “honest” worth to ensure possession for 100 years.
In a Twitter thread, Ethereum co-founder Vitalik Buterin asked the group what worth they assume is acceptable for registering and maintaining possession of a 5-letter .eth area for 100 years. Buterin gave 4 choices: below $100, $100–$999, $1000–$9999 and $10,000 or extra.
Nearly 50% of the 91,130 votes selected essentially the most economical possibility of paying below $100 for 100-year possession of an .eth area. One respondent stated that the result’s to be expected as individuals at all times need the most cost effective solution to get good returns. Alternatively, one other group member argued that prices ought to be exponential with time. The person believed that $1 million is an acceptable value for 100 years.
The prices for conventional domains fluctuate relying on the title registered. Area title suppliers like Namecheap and GoDaddy promote regular .com domains from $1 to $13 yearly with none add-ons. After a yr, the charges normally go greater because the promotional interval involves an finish. Nonetheless, premium domains might be extra expensive, starting from $1,000 to $50,000 and past, relying on the area title chosen.
The most costly sale of an ENS area occurred in October 2021 when paradigm.eth was sold for 420 Ether (ETH), value $1.5 million on the time. The second-largest sale occurred in July 2022, when 000.eth was bought for 300 ETH, round $320,000 on the time of sale.
Associated: Ethereum Title Service registrations surge by 200% amid decrease gasoline charges
The founder and lead developer of ENS, Nick Johnson, lately advised Cointelegraph that the staff didn’t understand how priceless ENS would change into as extra customers began to mint .eth domains. Johnson believes that many individuals register ENS names as a result of it “serves as their decentralized profile.” It offers individuals a solution to determine themselves throughout numerous functions and platforms.
