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    Home » NFT News » The Sandbox Let Sand.eth ENS Expire…And Someone Just Registered It

    The Sandbox Let Sand.eth ENS Expire…And Someone Just Registered It

    By MicahJune 3, 2022Updated:January 31, 20232 Mins Read

    How precious is your ENS to you? Well, to The Sandbox, maybe not that important because the metaverse platform let their ENS domain expire. Now, someone else owns the sand.eth.

    The picture shows The SandBox metaverse gaming platform that let their Sand.eth ENS expire
    The SandBox loses Sand.eth ENS after they let it expire and someone else registers it. Credit: @TheSandboxGame on Twitter

    What Happened to The Sandbox’s ENS?

    On a Twitter post, an account named 065.eth (@address_eth) which sells ENS domains on OpenSea said someone bought sand.eth 7 months ago for 4.9 ETH. Then the person let it expire and someone registered now for a 6.4 ETH premium.

    Later on, the Web3 community found out it was The Sandbox who initially bought the ENS for around $21,000 at that time of transaction. Now, it doesn’t have its ENS anymore.

    What Are ENS Domains and Why Are They Important?

    The Ethereum Name Service is a “distributed, open, and extensible naming system based on the Ethereum blockchain”. Basically, an ENS allows users to make simple and memorable names for their wallet addresses and decentralized websites.

    So, instead of a long list of letters and numbers as your blockchain address, you can simply use your ENS domain to manage all your tokens and NFTs. Having an ENS domain makes it much easier to manage your blockchain transactions.

    ENS domains are also scarce. Many are already taken and the good ones are expensively priced. To give you an example, RTFKT bought the domain dotswoosh.eth for 19.72 ETH or approximately $35,000.

    Additionally, in April this year, people spent 2492 ETH ($7.3M) registering ENS domains and 169 ETH ($510k) on renewing them, showing its increasing demand in the crypto and NFT space.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    ens domainThe Sandbox
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    Micah

    Micah is a writer based in the Philippines. She loves to write about the things that spark her interest like tech, art, blockchain, and NFTs. In her free time, she paints using acrylic and watercolor, reads fictional novels, and plays video games.

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