Recently, domain names are getting widespread attention, especially ENS domains(.eth) amongst other web3 domain name extensions like .crypto, .nft, .dao etc.
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People believed thatis behind buying the .eth ens domain name for the meagre price. Some believe the price should be more than 100 ETH, a supposed 1000 ETH for the ens domain a user suggested.
Earlier before now, we saw other ens domain names like paradigm.eth selling for 420 ETH last year which was valued at $1.5million. Initially, many believed that crypto-dedicated VC giant Paradigm was behind the expensive purchase. However, it denied those reports.
Unstoppable, the popular domain name market just like Opensea.io is known for releasing domain name extension for the web3 economy. The platform supports blockchains like Polygon, Ethereum and Zilliqa. Polygon mint on Unstoppable is free for all users.
The web3 identity platform Unstoppable Domains raised $65 million in a series A equity funding round. The financing was led by Pantera Capital with participants including Alchemy Ventures, OKG Investments and Polygon MATIC, along with previous investors Boost VC and Draper Associates. The company achieved unicorn status with a $1billion valuation.
Last month, an anonymous bidder offered the owner of the Amazon.eth domain name $1 million usdc for its ownership. This comes after recent sales for Samsung.eth and Starbucks.eth, which both sold for 60 ETH valued at $90k.
What is ENS Domain
The (Ethereum Name Service) ENS domain is a web3 decentralized, distributed, open, and extensible naming system based on the Ethereum blockchain for the web3 internet. ENS replaces the alphanumeric wallet addresses with a human-readable names like ‘alice. eth’. This human-readable names can be used for web3 identity, sending and receiving of funds.