The Ethereum domain name “000.eth” just sold for 300 ETH, or nearly $320,000 at auction. Interest in Ethereum Name Service (ENS) and its decentralized domain names continues unabated, and sales of 3-digit domain names prove it.
An impressive sale for a domain name
Ethereum Name Service (ENS) is a provider of domain names for the Ethereum blockchain. These domain names are non-fungible tokens (NFTs), considered to be the cornerstone of decentralised websites. Today, they are mostly used as an alternative to Ethereum addresses, as they are more readable and easier to use than a random sequence of characters.
For a few months now, Ethereum Name Service (ENS) numeric domain names, such as 123.eth or 456.eth for example, have been selling at a premium.
The reason? Rarity of course, but not only that. First of all, the numbers are universal, which implies a higher demand than any word in any language.
Secondly, some collectors want to hold such domain names to match the identifier of their NFTs. For example, the owner of Bored Ape 7000 might want to own 7000.eth.
The latest example of the madness that has taken hold of domain names of this type, “000.eth” has just been sold for 300 ETH, or nearly 320,000 dollars at the time of sale.
Purely symbolic, it should be noted that .eth domain names are limited to 3 characters, so in theory this is one of the most primary combinations possible on Ethereum Name Service.
the ENS domain 000.eth just sold for 300 ETH ($320,000 USD) pic.twitter.com/gnKh5wu67e
– ENS Journal ✨ (@ENSjournal) July 3, 2022
This sale comes on the heels of another surprising sale of “porn.eth” for no less than 184 ETH.
Moreover, the sale of “000.eth” represents the 2nd highest sale of any decentralised domain name, after the sale of “paradigm.eth” for 420 ETH last year, or nearly $1.5 million at the time of sale.
However, some in the NFT community reject the legitimacy of the sale of ‘paradigm.eth’ and therefore consider the sale of 000.eth to be the most expensive to date.
At the time of writing, the floor price for .eth domain names with only three digits is 28.5 ETH. For four-digit ENSs, the floor price is around 2 ETH.
A rich collector of NFTs
The anonymous buyer seems to be a regular in such transactions. Indeed, last week he bought NFT 3553 for 115 ETH.
As can be seen on his OpenSea profile, he also made an offer of 150 ETH to the holder of the domain name “ape.eth” to acquire it. As the offer expired, the owner of this domain name does not seem ready to sell it at such a price.
It will be interesting to follow the future actions of this collector. Will he make other impressive offers to acquire “ape.eth”? Will he seek to obtain other .eth domain names for astronomical sums?
