ENS Sony.eth Sold For A Whopping $72K!
- ENS Domain Sony.eth has been sold for a sum of $72,000
- The buyer owns several other related ENS domains
The Ethereum Name Service (ENS) domains rose to popularity in the crypto boom of 2021 when the prices of these domains went soaring. Interestingly, one of the collectios of the same has recently purchased sony.eth for a price of $72,000, or around 48 Ether (ETH) tokens.
Sunnybay.eth, the pseudonym for the ENS collector, was the one to purchase the domain sony.eth put out for the sale in around six minutes! The amount spent on this domain was around 48 ETH or ($72,000). This was further confirmed by the data from OpenSea.
It is interesting to note that sunnybay.eth owns several ENS domains related to brands, including ipad.eth, nike.eth, and coke.eth, becoming one of the biggest collectors of brand-related domains.
The introduction of Ethereum Name Service domains in the world of crypto made it easier for crypto addresses to be read by human eyes instead of random numbers that are difficult to share with others during transactions.
An Ethereum Name Service domain is a word followed by “dot eth” and represents a crypto address which can be used for transfer of funds. An interesting fact to note here is that these are non-fungible tokens (NFTs) and, hence, owners can transfer their ENS via sales through an NFT marketplace like OpenSea.
Interestingly, the sale of sony.eth proves the growing demand for these domains, and domains which arejust 2-4 words are sold for higher prices because they are scare to find given most of the words are already taken away.
Additionally, there are only 1,000 three-digit ENS, from 000 to 999. Conversely, there are 10,000 four-digit ENS names, from 0000 to 9999. The total supply for the two categories makes them similar to typical NFT collections, which are limited in number. Like the BAYC NFT collection, which is a collection of 10,000 unique Bored Ape NFTs and others.
Earlier in July, the ENS domain 000.eth was sold for a record of 300 ETH, which amounted to $315,000 at that time. Recently, OpenSea removed several music-themed ENS domains from the platform that were available for sale due to copyright infringement.
The NFT marketplace got a cease and desist letter for some ENS domains from the Recording Industry Association of America (RIAA). These included domains with names related to Columbia Records, Sony Entertainment, Subpop, and Capitol Records.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
