Ethereum Name Service (ENS) achieves great revenue , more than 1 million names have been registered

Ethereum Name Service (ENS) is “hot” again because of alphanumeric domains, revenue has reached 8,051,196 USD until now on May 21, 2022.

ENS and the charm it brings

Ethereum Name Service (ENS) is one of the early NFT projects on Ethereum, allowing users to issue domain names consisting of wildcard characters for their name or brand, ending with “.eth”.

The project was created to replace both the long and complicated wallet addresses we often see and can even be used as a way to log in to accounts.

The popularity of Ethereum Name Service increased in October 2021 when the project announced the issuance of ENS tokens and conducted an airdrop for users who registered domain names in the past. The Ethereum Name Service token will have an administrative function in the DAO organization established by the Ethereum Name Service, helping to make decisions to help continue the development of the project.

Over time, the community’s attention turned to other NFT projects until the trading volume of Ethereum Name Service NFTs surged in the past week thanks to the support of alphanumeric domains. Ethereum Name Service has released the latest series of identifier NFTs, consisting of 10000 3-digit and 4-digit NFTs, from 000 to 9999. After the event, more than 1 million names were registered.

ENS subscription and renewal revenue is at a record high in May

“.eth” registrations exploded as people started buying 3-5 digit names and the 10k Club was quickly established. This club establishment brought in $7 million in subscription sales in April and had over $5 million in the first week of May.

Up to the present time on May 21, 2022, the revenue of registration and renewal of “.eth” reached 8,051,196 USD. The registration fee accounts for about 80%, and most of them are contributed by “ordinary users”, not “Squatter” with more than 5 ENS domain names.

The token price is also stabilizing at $13

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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