The next thing in crypto with potential NFT-like hype 📈
2 min read

The next thing in crypto with potential NFT-like hype 📈

Buying .eth domains is already popular (e.g. nicky.eth). Selling .eth subdomains has the potential to be the next big thing.

ENS Domains are similar to NFTs

The same fundamentals that made NFTs wildly popular–building a brand, building community, the economics of secondary sales–are also true for domains and subdomains. This is why we could see a similar explosion in popularity as we've seen with NFTs.

And all of this is made possible thanks to a breakthrough in technology by The Ethereum Name Service (ENS) team.

To radically simplify their solution, they're allowing applications (and ENS) to interact with data on different chains and in different ecosystems. Up to this point, the landscape has been made up of fragmented ecosystems (eth vs. solana vs. terra) that can't communicate with one another without introducing added complexity. The ENS team's breakthrough is a standardized way to retrieve data from a variety of external layer 2s in a trustless manner, making it possible to store ENS records on layer 2 platforms and avoid paying Ethereum gas fees.

All of this ️ is ☝creating the opportunity below 👇

But first...

What is ENS.eth?

People use ENS.eth to purchase the equivalent of their web3 username. This username is like your personal URL for web3 where other people can easily send crypto, NFTs, and tokens directly to your wallet.

Why this can be massive 👇

You buy your name.eth on ENS. ex: Drake.eth

You also buy your brand's name.eth too. ex: OvO.eth

It looks something like this ✅:

Instead of this 🔴:

The result...

Continued consumerization of web3 and no more copying and pasting long wallet addresses (ex: 0x76cd..019).

The opportunity 💰...

Your brand blows up in popularity and now people want to be associated with you. So you start selling subdomains ex: [alice.drake.eth, john.drake.eth, Rolex.drake.eth,...etc.).

You can sell a limited amount...or an infinite amount.

It's yours – You set the price, you set the rules. From here, the opportunities are endless.

I'm excited to see where people's imagination and creativity can take this. If you have thoughts or ideas around this, our DMs are open.

For more context, here's a great thread on the technical breakthrough that's bringing this mainstream 💈