How people sextupled their money in one week.
Three and four digit .eth domain names are the new hot thing. Over the past week or so, prices of short numeric .eth domains have taken off.
.Eth domains are connected to Ethereum Name Service, a blockchain-based naming platform.
To give you an idea of the meteoric increase in prices, consider Shane Cultra’s sale of 661.eth. He bought the domain for 3 eth six days ago and just sold it for 18.88 eth. That’s over $50,000.
A quick scan of sales on OpenSea within the past hour shows that four digit .eth domains are selling for $6,000-$7,000. Five digit domains are mostly selling for below $200.
The upswing isn’t driving the same escalation in prices for alpha domains. A lot of three letter .eth domains are selling for under $200 USD.
.Eth domains have renewal fees based on length. Three character domains cost $640 a year and four character domains are $160. Regular fees of $5 per year apply for longer domains.
So you might be asking yourself, why the sudden popularity? And why numeric domains?
ENS isn’t great for websites. They can serve as short wallet addresses, which is kind of cool. But ENS is set up to work with any second level domain, so you could also buy a three digit domain in a new TLD for about $10 and connect it as a wallet address.
The runup appears to just be profit chasing like you see in a lot of NFTs. People are just buying them hoping they go up in value.
Holders of ENS domains with up to four digits have formed a Discord channel called the 10kClub. 4,000 ENS holders have joined the club. And, according to CoinTelegraph, people are (no joke) continuously posted throughout the Discord chat, “I AM MY NUMBERS AND MY NUMBERS ARE ME.