ChatGPT Domain Sells For 6 ETH, ENS Benefits From The AI Season

Key Points:

• Ethereum Name Service [ENS], although not being an AI token, joined the list of cryptocurrencies that benefited from ChatGPT’s growth. The chatgpt.eth domain sold on OpenSea for 6 ETH, according to the open naming system’s sales bot.
• ENS’ collection volume increased 46%. The significant sale might have had an impact, but the surge indicated that there were further assets moved under the collection.
• ENS received so many registrations that it added a million new domains in a little under two months.

Ethereum Name Service [ENS], although not being an AI token, joined the list of cryptocurrencies that benefited from ChatGPT’s growth. The chatgpt.eth domain sold on OpenSea for 6 ETH, according to the open naming system’s sales bot.

While domain sales increase, registrations are falling

According to data from the NFT marketplace, the seller was identified as “Ishmilly.” LongDuck, who had previously owned the domain, purchased it for 0.043 ETH in the meanwhile. Comparing the asset’s value to the market price of Ethereum at the time of publication, it was close to $10,000.

In the 24 hours after the sale, ENS’ collection volume increased 46%. The significant sale might have had an impact, but the surge indicated that there were further assets moved under the collection. Despite an increase in volume from another collection of 335%, this allowed ENS to maintain its lead in the domain sales rankings.

This deal increased ChatGPT’s influence on the cryptocurrency market. For instance, once the AI tool became widely accepted, tokens, Fetch. Ai [FET], and SingularityNET [AGIX] have all seen significant value gains.

At one time, ENS received so many registrations that it added a million new domains in a little under two months.

This occurred in the third quarter (Q3) of 2022, though. However, according to Dune Analytics, domain attention has only increased month over month (MoM) since that time. The number of domain registrations for February was 10,248 at the time of writing.

But there is a chance that it could edge closer to the ones in December 2022 and January 2023, which was a slight difference.

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