On July 3rd, the Ethereum Name Service (ENS) domain 000.eth was auctioned for 300 ETH (about $315,000). This was the second-largest buy in terms of not just Ether but also US Dollars.
On-chain data indicated that the ENS name was sold on the OpenSea marketplace by a user named EtheOS who obtained it in June 2020.
In September 2021, the ENS name was offered for 100 ETH and was valued at about $300,000. The user re-listed the name for 500 ETH in January of this year, then again in March. The offer was on the market for three months before it was accepted. The recent sale is second only to the 420 ETH sale of another ENS name – paradigm.eth – last October. It was valued at about $1.5 million at the time.
For those who are unfamiliar, Ethereum Name Service (ENS) is a protocol that connects machine-generated codes to human-friendly names. The Ethereum blockchain powers this Web3-friendly, open, decentralized, and non-profit name system. The domain names of ENS are protected by smart contracts.
These are also NFTs that may be traded on major markets like OpenSea. ENS is one of the most commonly integrated naming standards, according to statistics, with over 1.1 million names, 504 integrations, and over 400k owners.