Someone buys ENS Domain for $320,000

Updated: Jul 5

The Ethereum Name Service (ENS) domain 000.eth has been sold for a near-record price of $300,000 ETH.

Source: Bitnovo blog

According to statistics from analytics platform NFTGO, this was the second-highest ETH-denominated ENS transaction price.

Last October, paradigm.eth was purchased for 420 ETH worth about $1.5 million at the time). Notably, venture capital firm Paradigm stated that it was not involved with the acquisition.

The Ethereum Name Services, which is closely affiliated with the Ethereum Foundation, enables users to acquire domain names on the world's second-largest blockchain. Each domain is offered for sale as an NFT.

ENS domain names are intended to replace sophisticated wallet addresses that are unsuitable for widespread use. Instead of 42 hexadecimal characters, users can just use a short login name.

The service has grown in popularity as a result of renowned people adding ENS domain names to their Twitter identities.

Shopify CEO Tobias Lütke, Reddit co-founder Alexis Ohanian, and other notables are on their list. Budweiser, another popular beer brand, obtained its own ENS domain name in August.

The number of registrations on Ethereum Name Services has increased by 112% in the last two weeks.

In November, early adopters were rewarded with a big airdrop. Some consumers were awarded six-figure sums.

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