SNEAK PEEK
- ENS is currently the most well-liked NFT project on Ethereum, according to data from NFT exchange OpenSea on seven-day trading volume.
- ENS names were traded on OpenSea for 3,762 ETH over the last seven days.
- Another popular Web3 domain name service is Unstoppable Domains.
Digital artwork from the renowned Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) non-fungible token (NFT) collections has been surpassed in terms of trading volume by domain names for Web3 websites.
According to seven-day trading volume data from NFT exchange OpenSea, ENS is now the most popular NFT project on Ethereum (ETH). This is significant since it shows that the domain name service has outperformed even the most well-known NFT collections, like BAYC, CloneX, and Moonbirds.
In the past seven days, 3,762 ETH worth of ENS names were traded on OpenSea. Comparatively, BAYC witnessed trading quantities of 2,417 ETH whereas Otherdeed for Otherside and CloneX, two well-known NFT collections, saw trading volumes of 2,920 ETH and 981 ETH, respectively.
ENS is the leading decentralized domain name registry service. Users can register programmable domains on the Ethereum blockchain capable of interacting with other dApps on the network.
In ENS domains, which various dApps may use in the crypto-enabled Web3 ecosystem, users’ usernames, fungible and non-fungible tokens and assets, NFT avatars, and other personal data can be kept. Because ENS domains follow the ERC-721 token standard, they can also be traded as NFTs, with OpenSea and LooksRare witnessing most of their trading activity.
Unstoppable Domains is another well-liked Web3 domain name service. Similar to ENS, Unstoppable Domains also supports additional top-level domain server names. Unstoppable Domains allows customers to acquire domain names that can include top-level domain servers like as “name.crypto,” “name.wallet,” “name.nft,” “name.dao,” and “name.bitcoin,” among others, whereas ENS domains only adhere to the naming standard of “name.eth.”
Sandy Carter, senior vice president of Unstoppable Domains, stated in a Forbes article that he is particularly enthusiastic about how NFT domains may become your sole name for Web3 and enable you to own your digital identity. In the future, your NFT domain will allow you to carry your reputation across all of your favorite apps, games, and metaverses without giving up ownership of your data.
