Ever since Ethereum Name Service, or ENS, put up for sale 10,000 four-digit .eth domains ranging from 0000 to 9999, the collection of non-fungible tokens has caused quite a stir among NFT investors, speculators and enthusiasts. After the 10,000 ENS names sold out in one day, the number of people registering for ENS names and buying these digit number names from resellers has significantly affected the trading volume of the market.
According to a Dune Analytics dashboard for ENS, the peak of sales began on April 21, and the number of eth. it has since gone from 2,721 to 21,188 as of April 28. Over the past seven-day period, ENS domain trading volume on OpenSea has increased by 3,333%, reaching 2,613 ETH, or $7.3 million, at press time. The last 48 hours have seen the largest trade in ENS NFTs on the secondary market, with the most expensive domain yet, “008.eth,” selling for 20 ETH, or $56,125 on April 29.
008.eth bought for 20.0 ETH on OpenSea #domains $ENS https://t.co/XXfVcoFi8X
— ENS Sales Bot (@EnsSales) April 29, 2022
Each ENS web name is an NFT that is minted and sold like any other non-fungible token. These decentralized domains ending in .eth can act as Ethereum wallet addresses, cryptographic hashes, and website URLs. As decentralized applications, wallets, exchanges, and marketplaces increasingly support NFT usernames, whether from ENS or competitors like Unstoppable Domains, Web 3.0 users are embracing the value that can be tied to a digital identity.
Holders of ENS names 0-9999 have created an exclusive Discord channel called 10kClub. At the time of writing, nearly 4,000 ENS holders had joined this social club. The members even created a refrain that was continually posted in the Discord chat saying: “I AM MY NUMBERS AND MY NUMBERS AM ME”. According to 10kClub’s Twitter page, there is no roadmap.
As a result, the app.ens.domains website has been crashing for the past week, taking 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 it was working to resolve the issue.
Looks like our host is still struggling. Please use our IPFS links in the mean time whilst we sort out a better solution.https://t.co/5MtOsePsJDhttps://t.co/6XDCXtYojy https://t.co/Xvgs8bdhiq
— ens.eth (@ensdomains) April 29, 2022
Not only individual users, but also big brands and companies have recently registered their names on the Ethereum Name Service, such as Puma and Budweiser.
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