On Tuesday, the Ethereum Name Services (ENS) domain Amazon.eth announced a US $ 1 million coin (USDC), Stablecoin fixed to US dollars from OpenSea’s anonymous wallet address. However, the offer to purchase the ENS domain was not answered and no transaction was made. This is 33 Ether (the last sale of the domain name was 5 months ago)ETH), Worth about $ 100,000 at the time of writing.
Amazon.eth expired $ 1 million offer at OpenSea | Source: OpenSea
Was the owner not informed about the offer at the time of publication, was it not considered close to fair value, or was the bid account and domain owner account linked to raise the price of the asset? Is unknown (what is known as a wash trade). Other bid offers for the ENS domain are around $ 6,200 in USDC, according to OpenSea data. The domain name has been officially validated by ENS and is owned by anonymous OpenSea user 4761BF.
Amazon.eth expired $ 1 million offer at OpenSea | Source: OpenSea
ENS is a blockchain naming protocol that allows users to store avatars and profile images for use across devices and send and receive ciphers. Non-fungible token (NFT).. To sell .eth domains on OpenSea, users must first connect their wallet, register their address with manager.ens.domains, and then list them in their OpenSea account.
While many crypto enthusiasts have picked up interesting and creative names for ENS services, others have embarked on domain flipping practices. That is, pre-register an ENS domain that contains the name of a well-known entity, and then charge the domain a high price in case that entity later wants to enter the Web3 space.
Since its inception in 2017, approximately 482,000 owners have over 1.67 million .eth domain registrations. Recently, over 154,100 registrations were made between July 5th and Monday. Lower gas rates And the ongoing interest from the entity trying to enter the Web3 space. To date, OpenSea’s ENS collection has witnessed a cumulative transaction volume of approximately 46,200 ETH, or $ 71.5 million.
