The death of @ensdomains will come from the “Anti secondary market” mentality.
The way I heard about ens or web3 domains in general came from the 30 eth porn.eth sale, I remember a popular crypto news platform reporting about it back in 2021.
Reading this news made me look into domains more and in fact, I went to @unstoppableweb first to register my domain due to finding ens renewals expensive compared to web2 domains.
Once I had a fair amount of web 3 followers, I realised most had ens. I didn’t understand why so I asked a few people, mostly quoting me about how vitalik help fund it and how active they were with the community. Reading about the technology was interesting but I’m not into that kind of topic although ens was very active with the community back in those days.
What I cared about is that it worked.
As an investor, i made a decision to try and find popular search topics in order to flip, not company’s but common words. The core ens community might find this as a bad thing but to be fair, it was an amazing opportunity.
Anyways, I minted a few domains, one being 3100 which is the most valuable I have and moved on to other web 3 opportunities.
Then, digits came around. Ens saw massive grow on the back of the 999 and 10k club. Registration went though the roof and people starting building for the demand, most notably @ensvision@godid_io. They gave all of us a way to do everything ens all in one website.
Tribalism was formed on these categories, digits, emojis and even pokemon. Private chats, spaces and discord servers were made just so people could be recognised for what they own. These clubs contribute extreme engagement and funds for the DAO.
We ALL said, ENS is top tier because it could not be rugged basically because it had no owner, the “DAO” was in control. This is because the majority of nft projects WERE being rugged or people would just lose interest. Except, domains we’re different.
The domain you own speaks a lot about you, it’s not just the domain but also how much you have spent on it or what it’s worth. People in the community would receive recognition from other investors for instance, owning a 999 with a high floor price would show you were either lucky enough to mint or had bought it for a huge price tag. Flexing might sound cringe but it’s normal human behaviour.
Meaning the secondary market gave you a chance to show what type of person you are and people thrived on that concept.
All in all the secondary market is actually a major factor when it comes to ens, it’s how I got into it. And if intrest fades away I see major delays of growth for ens or web3 domains in general.
Please support the domain market places, they are extremely important for web3 domains to succeed.
Shoutout to one service doing everything right, @bonfida. I salute them even though I own only one domain they reached out to my post and said “congratulations”.
I predict they will quickly become a major player in the market.
Cheers.
It’s costing almost $100 on top to register a $5 ENS right now. 🫨
Imagine paying $105 to buy something that is $5. 🤦♂️
This is a total loss for both ENS and the consumers. Consumers have to pay godly amounts, but ENS doesn’t get to keep those amounts. Instead it all goes to the miners. ❌
But other naming services are even worse, because nobody has the security of Ethereum. Sure you can register a UD on Polygon for chump change, but you wouldn’t wanna keep your best domains on Polygon? 🤷♂️
Clusters was interesting until we got to know that even though you’re doing a transaction on some other chain, you’re sending all your money to Ethereum and they’re including Ethereum gas fees into it. ❌
Nobody has been able to solve the gas fees problem of registering domains in conjunction with cross-chain support that doesn’t take away the security cushion of Ethereum. 💎
WNS is going to change all that very soon ✅ @wnsdomains
WNS x Arbitrum 🌟
"A small step for WNS, a giant leap for Web3 domains!"
The wait is over! WNS has finally launched on @arbitrum, along with @ethereum! This launch officially makes WNS the first multi-chain identity protocol! 💎
@arbitrum enables mining/registration of WNS domains with gas fees as low as $0.01! 💯
Additionally, by bridging your domains to Ethereum in the future, you maintain the high-security network of Ethereum. 🔒
Mine on Arbitrum and secure your identity: https://t.co/bnMiTdlLit
A new player has entered the chat.
I've long admired the work and practice of @SamSpratt and could not be happier to finally have a piece of his in my collection.
Few have approached this medium with as much thought as Sam has, and I look forward to the continued evolution of Luci.
We're just getting started.
🎉 #WNSFam, our first Twitter Space is happening! 🚀 Join our WNS team to explore Web3 $WNS and share your insights. Remember to set that reminder! See you there for an epic chat! 🌟
https://t.co/7q9VbF1j3d
REWARDS PROTOCOL
Doesn’t some reward make everything sweeter? 🍬 The biggest rewards are the mining rewards ⛏️ that are given when you mine a new domain. The number of points is based on the tier of the domain registered; a higher tier means higher rewards. Next are Twitter rewards 🐦, which are paid out based on your Twitter activity. You can also simply claim points by being a member of YUGA and ENS, and the best way is to earn rewards by simply burning your ENS! 🔥
Did it get too spicy for you? All points lead to $WNS Token Airdrop. Stay tuned to learn more.
Introducing https://t.co/yd383wptTT 🌐, the biggest leap in blockchain domains so far. 💎
Experience true Web3 🌍 with WNS and earn rewards 💰 along the way. WNS is all about Web3, and our new identity 🆕 is a testament to our commitment to innovation and technology 🔧, while still maintaining the same trust and belief as ever before.