Would you trust @adam or @Simeonledoggo314159 more on Instagram ?
That’s crazy how what we call an OG username - one word, no number, no underscore, 3-4-5 letters - could inspire way more confidence than any other letter combination.
This halo effect encourages bunch of people to pay crazy amount of money for their name or their business name on:
What about Web3 ?
Ethereum Name Service (ENS) is the « most successful non-financial Ethereum application so far » according Vitalik Buterin.
Simply explained, it’s a decentralized phonebook: it allows you to match your complex Ethereum address (0xB6A...56bd) to a simple and human-readable address (parishilton.eth).
Just like you don’t have to dial anymore your friend phone number because it’s already registered in your phone as « Louis », you won’t have to triple check your friends Ethereum address before sending him $DAI.
Type a domain name he owns - maybe louis.eth - and it’s done.
No more pressure and actually If you’re into this industry, you know what I’m talking about.
And by the way, the domain name is minted as an NFT, which make it easy to transfer - unlike in Web2. Long live NFT!
Fortified by more than 500 integrations on famous Decentralized Applications - Uniswap, Aave, Opensea, Gnosis and the like - your Ethereum name appears to be your identity on the web3 economy.
And most clever brands understood this: Let remind than before any official announcements, Adidas just changed its twitter name to Adidas.eth.
More than free viral engagement, they show to the crypto community than they understood their culture and want to be part of it by respecting their codes.
Results? Their first 30k NFT drop was a massive and mainstream success and they collected 6000 $ETH in one day.
Puma seems to follow the same path, you can check their twitter. https://twitter.com/PUMA
Actually, those two brands are just the tip of the iceberg: you can check on this website than many celebrities got the importance of showing their web3 interest on their web2 profile, this is how it works right now. https://ethleaderboard.xyz/
Some speculators understood their value and are specialized in collecting those NFT in order to resell it to big companies that are likely to dive soon into web3.
And some traders even seem to have strong and absolute convictions:
The guy who owns Metaverse.eth refused a 200 $eth bid on Dec, 10 2021.
Would you have the same nerves?
Don’t be late, secure your dreaming .eth name, I want you to be able to flex properly on the next web3 revolution: decentralized social network!