I was a dot-com Founder/CEO in the late 90s. I remember meeting a guy in person to pay him $500 cash for my company’s future domain name. How far we’ve come.
Unpacking #ENS (Ethereum Name Service) for the uninitiated 🧵👇
Back then conducting domain name transfers was quite a tedious process (and still is). E-commerce was the big “a-ha” moment, the internet was quickly evolving from the “Information Super Highway” to “wait but we can facilitate physical B2C commerce here too”…
Owning a .com name was only something you thought of figuring out if you had some kind of business or you were into “domain prospecting” when trading .com’s was an evolving niche market at the time (e.g. the guy meeting me in person for me to pay him with cash)
Recently a lecture was published by a Chinese whale ("A9" status, holding assets of $15 mil+) presenting his hypothesis that 3 & 4-digit ENS domains make sense as "the next BAYC of the domain name world." I found it profound. Here's my digest of the lecture.
🧵👇
I'm doing this because I know most of you probably wouldn't read the full lecture. If you would actually like to read the lecture yourself, here's the rough translation to English compliments of @soy_eth
This is a weird one because 1 emoji takes 3 “characters” to interpret, so there is the appearance of emojis being capable of “one character” ENS names.
Everything continued its berserk trajectory today.
ENS blew up even more, with the ENS Registrar Controller contract taking the number one gas guzzler position away from OpenSea
Largely being driven by 3, 4 & 5-digit domain secondary sales, ENS volume is on track to nearly double yesterday's already face-melting 1,442 ETH to today's 2,674 ETH with 30 minutes remaining in the UTC day.
🔥 ENS is now number 10 on the 7-day OpenSea volume chart