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Amazoneth: ENS domain owner does not respond to offer of millions on OpenSea

 


On Tuesday, the Ethereum Name Service (ENS) domain Amazon.eth received an offer of 1 million USD coin ( USDC ) from an anonymous wallet address on OpenSea. USD Coin is a stablecoin pegged to the US Dollar. However, the takeover bid for the ENS domain remained unanswered and no transaction took place. Five months ago, this domain name was sold for 33 Ether ( ETH ). That currently equates to $100,000.



At the time of writing, it is still unclear whether the owner simply did not know about the offer or whether he did not think it was appropriate. It's also possible that the bidder's and domain owner's accounts were linked to boost the price of the asset. Such an action is also called wash trading. According to OpenSea, other bids for the ENS domain are just under 6,200 USDC. The domain name is officially verified by ENS and belongs to anonymous OpenSea user 4761BF.



ENS is a blockchain naming protocol that allows users to store avatars and profile pictures and use them across devices. It can also be used to send or receive cryptocurrencies and non-fungible tokens (NFTs) . To sell an .eth domain on OpenSea, users must first connect their wallet and register an address with manager.ens.domains, and then add it to their OpenSea account.


Many crypto enthusiasts have chosen interesting or creative names for the ENS service. Others just want to make a profit from selling domain names. It works by pre-registering ENS domains with the names of prominent companies, only to later be able to charge a high price for the domain if said company later wants to enter the Web3 space.


Since its launch in 2017, there have been over 1.67 million .eth domain registrations with around 482,000 owners. Between July 5th and Monday, over 154,100 registrations were made. That's partly due to the drop in gas rates and continued interest from companies looking to get into the Web3 space. To date, the ENS collection on OpenSea has seen a total transaction volume of approximately 46,200 ETH or $71.5 million.

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