top of page

What are 3-digit and 4-digit ENS domains

Sales skyrocket, are ENS domains the latest trend?



A New Trend in web3: That's what ENS domains are!


In the last 24 hours, $6 million in .ens domain sales were recorded. Domain name sales on the Ethereum network on OpenSea increased by nearly 2,300%.

Based on current market prices, the minimum price for a four-digit ENS domain is about 3 eth and for a 3-digit we are talking about 10eth+.


Our Discord server members are aware of the situation as we had anticipated the trend by a few days when 4-digit domains were still purchasable on ens.domains at mint price.


Anyone with a Web3 wallet and some ETH can use ENS to create an NFT representing their own unique domain. The long address assigned to the Ethereum wallet can be replaced with the more understandable ENS domain (e.g., cryptohubble.eth); we discussed this in depth in the Web3 domains article. There are extremely rare ENS domains, such as crypto.eth or defi.eth, which can be very expensive, just like Internet domains.



DATA

In the last week, ENS domain name sales are at an all-time high. According to OpenSea data, ENS domains were sold for $700,000 between April 14 and April 21. And from April 22 to April 27 - for $3 million. In the last week, the number of domain name registrations in ENS increased by 119 percent and the total number of active names in the .eth zone increased by 7 percent.In addition, according to data from @MattGarciaEth (ENS domain analyst and collector) on twitter, Ethereum Domain Name Service domain name transactions increased by more than 2,000 percent last week.


In the 14 months before the three- and four-digit domain boom, ENS rarely sold more than 100 domains per day... today 02/05/2022 on opensea more than 6000 transactions were made for a total of 2k eth of traded volume.



How to justify this?


Some enthusiasts buy domains for the amount indicated in the value of the domain itself. For example, 887.eth is traded for 8.87 ETH, which is almost $26,000. 555.eth was sold yesterday for 55.5 ETH, or $160,000.


Some might wonder how people are willing to buy 4-digit domains for $10k or 3-digit domains for $20/30k. We at cryptohubble think that as every NFT collection, whether land or PFP, is distinct from a limited supply, ENS's 3-digit and 4-digit domains are also limited and easily recognizable (an important aspect for collectors and web3 users), thus representing a true NFT collection consisting of 1k 3-digit and 10k 4-digit domains.



Also, one aspect we like to consider, if we see these domains as a true NFT collection, is that Ethereum Name Service aka ENS has nothing to prove to its community let alone create hype around the project, unlike all other NFT projects.


For many months now, the NFT community has been wondering what NFT collection might become the new bored bee or cryptopunks... maybe it is not a collection as we are used to seeing it, maybe the numbers could be the answer:



"PFPs and collectibles come and go, numbers stay and never lie..."


10kClub


On Twitter, @danielgothits known as "NFT degen" has set up a Twitter account @10kClubOfficial and a Discord server for all three- and four-digit Ethereum name service holders. 10kClub describes itself as "a web3 social club for ENS 0-9999 holders. No roadmap (obviously). Just the first 10k numbers on the Ethereum blockchain."


The 10kClub is just what was needed for a movement like this, which was born recently and by accident. The server club to group all collectors, from 000.eth to 9999.eth. The primary topic of the club is obviously 3 and 4 digits domains, however the discord server is a great space to discuss new and future trends in the world of web3 domains--and now we introduce two that might have the same potential.



Could it be the 5-digit's turn?

While the history of ENS's 3- and 4-digit domains continues to intrigue NFT collectors and get people talking about them, the trend is spreading to other domains with unique and easily distinguishable characteristics. In the image above, it can be seen that there are two other "limited collections" among ENS domains besides the 3- and 4-digit domains, we are in fact talking about the 5-digit (100k) and 3-letter (18k) domains. It is obvious that they do not have the same growth potential due to their large supply, but based on the number of transactions in the OpenSea secondary market, the interest is there and it is increasing.


We recommend checking the availability of any domains directly on ens.domains, in case they have all already been mined, opensea is great for searching for them at bargain prices and reselling them in no time (quick flip).



We continue the topic on our Discord server, drop by so you don't miss trends like these and exclusive ALPHA news from the web3 and nft landscape.


Comentarios


Iscriviti alla Newsletter

 

Grazie per l'iscrizione!

Latest Articles

bottom of page