Ever since Ethereum Name Service, or ENS for short, released 10,000 four-digit .eth domains ranging from 0000 to 9999, the non-fungible token collection has caused a stir among NFT investors, speculators, and enthusiasts alike. After all 10,000 ENS names were sold out in one day, the number of people registering for ENS names and buying these cipher names on secondary markets has significantly impacted the trading volume of the market.
According to a Dune Analytics dashboard for ENS, the revenue surge started on April 21 and the number of eth. Name registrations have since increased from 2,721 to 21,188 as of April 28. In the last seven days, the trading volume of ENS domains on OpenSea increased by 3,333% to 2,613 ETH or $7.3 million at the time of writing. In the past 48 hours, most of the ENS NFT trading in the secondary market has been witnessed with the most expensive domain to date, “008.eth”, which sold on April 29 for 20 ETH or $56,125.
— ENS sales bot (@EnsSales) April 29, 2022
Each ENS webname is an NFT minted and sold like any other non-fungible token. These decentralized domains ending in .eth can act like Ethereum wallet addresses, cryptographic hashes, and website URLs. As decentralized applications, wallets, exchanges, and marketplaces increasingly support NFT usernames, whether from ENS or from competitors like Unstoppable Domains, Web3 users are embracing the value that can come with a digital identity.
Holders who collected ENS names from 0-9999 created an exclusive Discord channel called 10kClub. At the time of writing, nearly 4,000 ENS holders had joined this social club. Members even created a chorus that was continuously posted throughout Discord chat stating, “I AM MY NUMBERS AND MY NUMBERS ARE ME.” To There is no roadmap on the 10kClub Twitter page.
As a result, the app.ens.domains website crashed last week, leading users to a 404 error page because the website could not be found on the server. On April 29, the ENS team tweeted multiple times that they were working to resolve the issue.
Seems our host is still having issues. In the meantime, please use our IPFS links while we find a better solution. https://t.co/Xvgs8bdhiq
— ens.eth (@ensdomains) April 29, 2022
Related: The concept and future of decentralized Web3 domain names
Not only individuals but also big brands and companies have recently registered their names with the Ethereum Name Service such as: B. Puma and Budweiser.
https://cointelegraph.com/news/4-digit-ens-domains-spike-in-demand-this-week-and-continue-soaring Demand for 4-digit ENS domains has surged this week and continues to grow