A new wave in the NFT market: the adoption of ethereum domains composed of numbers

Many users of the Ethereum network have been trying to purchase three and four digit Ethereum domain names (eth.) for the past few days. This issue has caused the trading volume of these non-traditional tokens (NFT) to increase greatly.

According to Cointelegraph, the Ethereum Name Service (Ethereum Name Service) or “ENS” has recently been making a lot of noise among investors, traders and enthusiasts in the world of NFTs. This service provides the domain “eth.” and has domain names consisting of numbers 0000 to 9999. Even though it’s been years since these three- and four-digit domain names were created, the number of people registering for ENS domains and looking to buy them on the NFT markets has increased dramatically in the past week, affecting the trading volume of these unusual tokens.

According to the data of Dune Analytics analysis site, this increase in the volume of transactions started on April 21 (May 1) and the number of domain registration cases in the ethereum semi-service went from 2,721 to 21,188 cases on April 28 (May 8). ) arrived. In the past seven days, the trading volume of ENS domains on the OpenSea NFTs market has grown by 3,333% and has increased to 2,613 Ethereum, equivalent to $7.3 million. In addition, in the last 48 hours, the volume of NFT transactions of ENS domain names has reached its peak in the OpenC market. The most expensive Ethereum domain consisting of numbers recently sold is the domain “555.eth”, which was traded on April 28 for 55.5 Ethereum or $156,821.91.

Each ENS URL is a unique token that is created and sold like all other NFTs. These decentralized domains are called eth. end, can act as Ethereum wallet addresses, cryptographic hashes, and website URLs. More and more decentralized applications, wallets, exchanges and NFT markets support these domains. These usernames can be from Plefterm ENS or related to its competitors such as Unstoppable Domains. Web 3.0 users have actually embraced the value that can be tied to digital identity.

Holders who have managed to obtain ENS domain names from 0 to 9999 have formed their own Discord channel called “10kClub”. As of this writing, nearly 4,000 ENS holders have joined the community. Said members have even created an automated message that is constantly posted in the forum’s chat that says “I am my numbers and my numbers are my (identity)” (I AM MY NUMBERS AND MY NUMBERS ARE ME). The 10kClub Twitter page also explained that the community has no specific roadmap.

Last week, the app.ens.domains website, which belongs to the Ethereum platform semi-service, went down, and when users tried to log in, they were getting a 404 error, telling them that such an address could not be found on the server. On April 29, ENS team members announced several times that they are working on solving this problem. It should be noted that big brands and companies such as Puma and Budweiser also use eth domain names. They have registered themselves in the ethereum semi-service.