000.eth Domain Sold For $320,000

The 000.eth Ethereum Name Service (ENS) domain has been sold for a record price of 300 ETH, equivalent to $320,000. According to data provided by the NFTGO analytics platform, this is the second largest sale of ENS denominated in ETH. Last October, paradigm.eth was bought for 420 ETH, about $1.5 mln at the time. Notably, venture capital firm Paradigm confirmed that it was not behind the purchase.

The Ethereum Name Service, closely associated with the Ethereum Foundation, allows users to purchase domain names on the second largest blockchain. Each domain is sold as an NFT. ENS domain names are intended to replace complicated wallet addresses that are not suitable for mass adoption. Users can simply use a short login name instead of 42 hexadecimal characters.

The service has gained a lot of popularity thanks to famous people who have added ENS domain names to their Twitter handles. This list includes Shopify CEO Tobias LÜTKE, Reddit co-founder Alexis OHANIAN, and others. Budweiser, one of the leading beer brands, also acquired its own ENS domain name in August. Over the past two weeks, ENS registrations have increased by 112%.

Image: NFT Now