The Ethereum Name Service, or ENS, domain Amazon.eth was offered one million USDC on Tuesday by an unidentified wallet address on OpenSea.
But there was no response to the offer to acquire the Ethereum Name Service domain, and no deal was made. Despite the fact that the domain name was last sold five months ago for 33 Ether, which was equivalent to almost $100,000 at the time.
Was the ENS owner unaware of the bid?
It is unknown at this point if the owner was simply unaware of the offer, did not think it was close to fair value, or whether the bidding and domain owner accounts were linked in an effort to artificially inflate the asset’s worth or generally a wash trade.
Other bids for the Ethereum Name Service domain currently stand at little under $6,200 USDC, according to statistics from Opensea. Ethereum Name Service has confirmed the legitimacy of the domain name, which is registered to anonymous OpenSea user 4761BF.
Ethereum Name Service is a blockchain naming protocol that enables users to transfer and receive cryptocurrency and nonfungible tokens as well as save avatars and profile photos for usage across devices.
Users would have to first link one‘s wallet and enroll an address before listing a .eth domain for sale on OpenSea.
While many cryptocurrency fans choose unique or imaginative names for the Ethereum Name Service fomains, others have started domain-flipping.
Ethereum Name Service domains containing the names of well-known organizations would be registered in advance, and if the organization later decided to enter the Web 3.0 arena, it would then demand a premium fee for the domain.
Over 1.67 million.eth domains have been registered since its launch in 2017, with roughly 482,000 owners.