Ethereum domain name “000.eth” has just fetched 300 ETH or around $320,000! In fact, this is the second-highest sold .eth domain name. To be sure, this isn’t really surprising given the growing interest in the Ethereum Name Service (ENS). Here’s all you need to know about the 000.eth ENS domain sale.
About the 000.eth ENS domain
According to NFTGo data, yesterday, July 3, someone paid 300 ETH for the 000.eth ENS domain. At the time, this amounted to $316,862.81. Reportedly, this is the second-highest sale in .eth domain names’ history.
Indeed, the top spot goes to paradigm.eth. Last October, it sold for 420 $ETH, or around $1.5 million at the time. While some speculated that venture capital firm Paradigm bought the ENS domain, they later clarified they weren’t behind the purchase.
Meanwhile, the owner of 000.eth ENS domain owns several other ENS domains and blue-chip NFTs. The ENS domains include samanatha-000.eth and samanatha.eth. Meanwhile, the wallet also holds Bored Ape #3553, which last cost 115 ETH, and Fidenza #299, which last sold for 85 ETH.
What is ENS?
According to its website, the Ethereum Name Service is a “distributed, open, and extensible naming system based on the Ethereum blockchain”. In other words, it enables users to create a simple name for all their crypto wallet addresses.
To explain, a typical crypto and NFT wallet address is made up of a long string of numbers and letters. Needless to say, these are not exactly easy to remember, making transactions a tedious process. To add to it, these long addresses have even caused losses due to small errors.
Therefore, an ENS domain like “Joe.eth” makes the wallet addresses easy to remember. Users can simply link their ENS domain to their wallets, websites, smart contracts, and more.