Ethereum Name Service collector buys sony.eth ENS for $72,000
www.theblock.co
19 July 2022 21:18, UTC
Studying time: ~2 m
Sunnybay.eth, a pseudonymous Ethereum Identify Service (ENS) collector, has bought sony.eth for 48 ETH (72,000), based on information from OpenSea.
The acquisition got here solely six minutes after sunnybay made the 48 ETH supply for the area identify, based on on-chain information. Sunnybay additionally owns a number of different “model ENS” together with ipad.eth and coke.eth.
ENS domains are a sort of human-readable crypto addresses which can be simpler to learn than the default alphanumeric blockchain pockets addresses. They make sending and receiving tokens simpler, particularly for individuals who may wrestle with the conventional blockchain tackle.
These ENS domains are non-fungible tokens (NFTs). As such, house owners can promote or switch them on NFT marketplaces like OpenSea.
The sony.eth sale for $72,000 is the most recent instance of the rising enchantment for ENS domains. Domains with three digits and 4 digits have develop into in style in latest instances given their relative shortage.
There are just one,000 three-digit ENS, from 000 to 999. Conversely, there are 10,000 four-digit ENS names, from 0000 to 9999. The full provide for the 2 classes makes them much like typical NFT collections.
The ENS area 000.eth offered for 300 ETH ($315,000 on the time) earlier in July. The sale was the second-highest buy for an Ethereum Identify Service area.
Other than three-digit and four-digit names, Ethereum Identify Service domains primarily based on in style manufacturers are additionally anticipated to develop into premium NFTs. That is primarily based on the expectation that the businesses that personal such manufacturers will wish to purchase them sooner or later. There may be at present a 1 million USD Coin ($1 million) supply on amazon.eth.
