I spotted an emerging trend in late-April 2022. My mistake is, I thought it was nothing. The reality, it’s something – heck, it’s EVERYTHING.
I’m talking about ENS’ domain names. That’s right, those crypto domain names with .ETH as the domain name extension. The thing is, ENS has already doing business for years, letting people to register .ETH domain names. However, not until late-April 2022 prices of domain names in a certain niche skyrocketed. I’m talking about numerical domain name; something like 50521.eth (it’ already registered, by the way.)
I saw domain sales increasing by many fold entering May 2022. I thought it was nothing, but I was wrong. At first I saw someone in Twitter said that his/her 3-number ETH domain name has been sold for 3 ETH.
I said to myself, “WTF?”
I’m into domaining. I invest in domain names. I know the value of 3-character domain names, but I’m not sure that’s the case with .ETH domain names. I was so wrong:
- Today (May 06, 2022) I saw the floor for the 3-numerical .ETH domain names went over 16 ETH.
- The 4-number .ETH domain names’ floor price is approaching 2 ETH (was 1.2-ish yesterday.)
- The 5-number .ETH floor price was about 0.015 ETH a couple of days ago – it’s 0.03 ETH.
The prices are rising to the moon, and yet, the Twitter-world hasn’t catch on the trend just yet.
Not me. Not anymore. I pulled the trigger, securing a dozen of 5-number .ETH domain names at about 0.02 each (plus not-that-expensive gas) today. IN 5 hours, the prices went up by 50% already.
The big question is: Why?
TBH, I can’t answer that. What I know is that NFT prices are largely driven by the how the market thinks about a certain NFT collections. For number-only ENS domain names, the market is certainly considering those to be premium NFT collections.
This is not a financial advice, but I’d suggest you to do a research on this rising trend in NFT, and don’t wait too long to make a decision, because the opportunities are lit!