Thread by @TJLarkin23

Investing in ENS domain names now could make you a millionaire in the next crypto bull run.

A thread 🧵

Web2 domain names frequently sell for six or seven figures (connect.com for $10mil two months ago).

Even average domains can sell for five figures (homepage.xyz for $60k in April).

These domains are sold almost exclusively for the purpose of commerce.

There is near zero need for an individual to have a web2 domain.

In web3, anyone who participates needs a crypto wallet. These wallets come automatically as a string 40 random characters.

Not something you would ever remember or be able to easily communicate to someone.

Therefore, a web3 domain name becomes necessary to get all the value of web3.

Most important value you get with this new name is an identity that will signify your status.

In the web3 future, our identities will be composable, meaning we can take them with us from one platform to another.

You can have the exact same identity on all platforms;

• social media
• video games
• email
• banking

Web2 silos will be a thing of the past.

Just because you're a little late to tik tok, it doesn't mean you can't have the same username you have on twitter.

In web3, this problem vanishes.

As we've seen in web2, your identity can be a massive flex.

Having a great name on twitter or in a video game can automatically give you status before the person knows anything else about you.

If it's a great name, people will assume you were either super early and smart, or you are rich enough to buy a great name.

And this already happens in web2, where that great name only helps you on one specific platform.

When web3 becomes the norm, everyone with an internet connection will want an ENS domain.

That’s a market size of 5 billion+ potential buyers.

With that many buyers, who are all looking for their one single online and metaverse identity, how high will the price go for great ones?

And each ENS domain is a 1 of 1 NFT.

If your name is John and you want john.eth, you have to be willing to pay more than every John on the planet to get the one john.eth.

The key to investing in ENS domains to be able to make millions on them in the future is to think from first principles.

In the web3 world, what names will people be willing to pay five, six or even seven figures to be known as?

Right now, you can get amazing ENS names on the secondary market for $250-$2k.

Imagine what they could be worth when everyone on Earth wants one...

That's it for my first ENS thread. Thanks for reading all the way through.

Follow me for more ENS discussion as well as simplified crypto concepts.

My goal is to make web3 simple.

Message me if I can help in anyway.

Love making new internet friends!

#ENS #ensdomains

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