Tag: ethereum name service

What is ENS? (Ethereum Name Service)

Ethereum Name Service – Ultimate Overview

  • What is Ethereum Name Service?
  • Why is ENS important?
  • How can you setup your own ENS address?

When you use an Ethereum wallet, you’ll receive an arbitrary 42 character set of characters (starting with 0x) that corresponds to your Ethereum address, or PUBLIC key. (note: this is different from your private key.)

For example, a 42 character Ethereum address might look something like this:

0xb9c2C22et19Q8307cb9255e1Cu9CbDE883A267o1

When you look at a block explorer like Etherscan, each wallet has a unique 42-character identifier that associates transactions with their wallet.

Register your very own ENS name at https://ens.domains/

This is similar to IP addresses that computers use. Many apps and browsers already support ENS names:

What is an ENS domain and why are they valuable?
some ENS supported applications. via ens.domains

Your .eth address is your web3 identity

Ultimately, this many characters is difficult to remember… and, it would be easy to make a type-o or mistake if you had to type it in every time you make a transaction.

To solve this problem, the Ethereum Name Service (or ENS) was created to build a sort of “address book” for the decentralized internet.

The ENS name allows people to associate their 42 character address with a short word or set of characters that is easy to remember, followed by “.eth” at the end.

Similarly to how you type in Google.com (rather than their server’s IP address) and it takes you to Google’s home page, an ENS address does this for web3.

Google DOES, by the way, have a public IP address, but isn’t it way easier to simply type in Google.com?

Your ENS address is tied to your Ethereum wallet

Your ENS name corresponds to your wallet and you can pick whatever name you want, as long as it is not already registered.

In many ways, your ENS is your username for web3 — ENS really is your Web3 identity.

Every ENS domain name is one of a kind… thus, non-fungible. 

ENS addresses are NFTs

Each ENS name you register is an NFT that you own, and can be purchased / sold on secondary via Opensea, or X2Y2.

ENS names use the ERC-721 token standard on Ethereum. Read more about ENS as NFTs here.

ENS offers decentralized naming for wallets, websites, & more.

You can signup for an ENS name at ENS.DOMAINS, and connect to the app using your Metamask wallet.

via ens.domains

ENS names can only be registered by 1 wallet at a time, this has created a sort of competition or marketplace for some of the most sought after names.

For certain special and rare ENS names, some people pay BIG money.

Which ENS names are the most valuable?

Since ENS has the potential to become your web3 username, potentially even representing your identity, people are think intently about which ENS name they want to register and own.

Across internet culture, humans prefer shorter and simpler usernames. Because of this, shorter ENS names tend to be more valuable.

Read more: The MOST EXPENSIVE .eth ENS SALES OF ALL TIME

The reasons for this are clear – fewer characters mean easier to remember and type. Google’s recent purchased g.cn, to make it easier for people in China to access the website, proves this to be true.

ENS realized this, hence registering an address shorter than 5 characters will incur an additional fee. Registering a 3-character ENS domain is even more expensive.

I paid roughly $600 to register LNR.eth.

Shorter names are also more scarce… there are fewer different arrangements available.

The number of combinations for 3-letter .eth addresses is 26^3, due to there being 26 letters in the alphabet, which is precisely 17,576.

Compare this to the number of 5-letter combinations, which sits at close to 11.9 million.

.com, the most common Top-Level-Domain on the internet, has no domain names available with 5 letters of fewer. [2]

Learn more about Ethereum Name Service:

Sources:

  1. ens.domains
  2. According to micro.domains

Most Expensive 3 Digit ENS Sales of All Time – the 999 club

ENS (Ethereum Name Service) addresses serve as usernames for web3, allowing people to associate their 42 character address with a shorter, easier to remember string of characters ending in .eth.

ENS addresses are owned by individuals, as NFTs.

Given that OpenSea data proves shorter ENS names can sell for more money, some of the most expensive ENS sales of all time have actually been frequently used English words.

Within that market, 3-digit names end up making up a large portion of those top sales, 555.eth being the highest, which sole for $162,975.20 based on the price of ETH at the time of sale.

Why are 3-digit ENS names valuable?

While popular words have a very easy to understand marketing appeal, the allure of 3-digit ENS names is a bit more intangible.

A few of the hypotheses include area codes – every jurisdiction in the United States has a specific 3-digit area code. Perhaps in the future, blockchain could bring some sort of architecture that enables people of these jurisdictions to associate their on-chain activities with their area code. Perhaps for tax implications? We can only speculate.

The other hypothesis is simple the scarcity of the 3-digit ENS names. Starting with 000, there are only 1000 combinations of 3 digits.

Having realized these factors, communities have organized around these ENS names, creating owners-only clubs.

The 999 club in ENS

The 999 club represents one of the most exclusive NFT clubs in the space today – numbered ENS names between 000.eth and 999.eth.

In contrast to the status-quo of 10,000 NFT collections, there will only ever be at most 1000 members of this NFT group.

However, a secondary numbers-only NFT club has emerged, with an order-of-magnitude more members – the 10k club – which represents 4-digit ENS names.

Below is the highest 3-digit ENS sales of all time, as of May 15, 2022.

Most Expensive 3 Digit .eth Addresses Sold

Sale Price (eth)ENS name
55.5555.eth
50005.eth
35.5035.eth
32.55888.eth
32006.eth
28.3083.eth
25025.eth
095.eth
23.8038.eth
20008.eth
105.eth
079.eth
19123.eth
052.eth
18.88661.eth
18.68861.eth
18.3268.eth
636.eth
767.eth
18.2882.eth
18868.eth
163.eth
17.5027.eth
17363.eth
170.eth
16.95179.eth
16.9980.eth
354.eth
16.85850.eth
16.8550.eth
16.78978.eth
16.66468.eth
16.3063.eth
16.2357.eth
704.eth
16080.eth
970.eth
667.eth
15.8048.eth
15.533533.eth
15.3530.eth
15.2085.eth
15728.eth
839.eth
114.eth

Have you claimed your ENS name yet?

Setup a crypto wallet and get a .eth address – your username for web3.

Most Expensive .eth Sales Ever for ENS

ENS (Ethereum Name Service) provides decentralized naming for wallets, websites, & more.

Ethereum names add “.eth” to the end of any set of characters, which can then resolve to a specific wallet address.

Why are ENS names important?

Individuals and businesses register ENS name to serve as usernames for web3.

ENS names enable users to associate their 42 character official address with a shorter name that’s easier to remember.

Budweiser / Anheuser Busch, for example, chose to register Beer.eth, making it easier for users to interact with their on web3 wallet.

Instead of 0x39dbfdd63fd491a228a5b601e0662a4014540347, users simply type Beer.eth.

ENS is the easiest system for direct wallet payments as well as user authentication to sign into dapps in the web3 space.

Which ENS addresses are the most valuable?

While ENS: Ethereum Name Service sales data on OpenSea suggests that shorter names tend to sell for more money, the highest dollar ENS names are those that represent actual commonly used words.

Read more: Most Expensive 3-Letter ENS sales of all time

Because these words are used often in the public vernacular, marketing and PR professionals value these types of .eth addresses higher because they are more easily recognized and understood by the largest number of people.

Most Expensive .eth Addresses Sold

Each ENS address is a special type of NFT. Because of this, they can be sold and traded on secondary markets.

Below are the highest ENS sales of all time, as of May 15, 2022.

Sale Price (eth)ENS name
420paradigm.eth
75wallet.eth
75deepak.eth
60crypto.eth
59artdao.eth
55.5555.eth
52.9google.eth
51apple.eth
50ukraine.eth
005.eth
trade.eth
42wei.eth
41sex.eth
40btc.eth
portn.eth
defi.eth
39.8com.eth
38.7dapp.eth
38loan.eth
35.5035.eth
35.4jobs.eth
35name.eth
play.eth
game.eth
games.eth
34rug.eth
33.5poker.eth
331000.eth
amazon.eth
tim.eth
32.55888.eth
32006.eth
mystic.eth
31market.eth
30.9347art.eth
30tobi.eth
mee6.eth
fidenza.eth
gas.eth
punk.eth
asset.eth
lend.eth
moon.eth
pornhub.eth
sportsbet.eth
beer.eth
login.eth
3000.eth

Have you claimed your ENS name yet?

Setup a crypto wallet and get a .eth address – your username for web3.

Most Expensive 3 Letter ENS Sales of All Time

ENS (Ethereum Name Service) addresses are the usernames of web3. They enable users to associate their 42 character official address with a shorter name that’s easier to remember.

ENS addresses are owned by individuals, as NFTs. The length of characters has proven to be important for many users – people tend to prefer shorter names.

The shorter an ENS name, the more valuable it is

According to OpenSea data, shorter ENS names tend to sell for more money.

The market for 3-Letter ENS names specifically has become super popular recently.

There are 17,576 unique three-letter possible combinations for .eth addresses.

Below is the highest 3-Letter ENS sales of all time, as of May 13, 2022.

Most Expensive 3L .eth Addresses Sold

Sale Price (eth)ENS Name
42wei.eth
41sex.eth
40btc.eth
39.8com.eth
34rug.eth
33tim.eth
32nba.eth
30.9347art.eth
30gas.eth
25dao.eth
ttt.eth
nhl.eth
21nfl.eth
usa.eth
20gmi.eth
19.1fan.eth
17dex.eth
16.4ken.eth
15boy.eth
idk.eth
bpd.eth
12bot.eth
irl.eth
11.7net.eth
10man.eth
uta.eth
pop.eth
dbz.eth
few.eth
leo.eth
leo.eth
9.01one.eth
9pro.eth
pay.eth
tip.eth
8.6eco.eth
8.421liu.eth
8.1lee.eth
8dad.eth
mom.eth
7.77tea.eth
7.4sau.eth
7.35bmw.eth
ibm.eth
6.8mls.eth
gop.eth
6.75cow.eth
6.3mvp.eth
6ben.eth
ufc.eth
ian.eth
bad.eth
iii.eth
max.eth
5.99eko.eth
5.98rip.eth
5.8jim.eth
5.58aba.eth
5log.eth
buy.eth
cat.eth
aws.eth
ddd.eth
mid.eth
job.eth
mit.eth
url.eth
hns.eth
top.eth
dan.eth
pam.eth
hut.eth
she.eth
not.eth
wtf.eth
4.99own.eth
4.95alt.eth
4.75tax.eth
4.49mfr.eth
4.44sad.eth
4.4ipo.eth
4.2bet.eth
4.1gme.eth
faq.eth
4jon.eth
abc.eth
bob.eth
btv.eth
jal.eth
see.eth
rob.th
kev.eth
lie.eth
ppp.eth
mmm.eth
vip.eth
joe.eth

Have you claimed your ENS name yet? Setup a crypto wallet and purchase your first .eth address – your username for web3.