Amazon.eth NFT ENS receives a bid for $1 million. Since last month, ENS NFTs have been gaining a lot of traction and popularity in the community, and now one of its biggest sales had just taken place.
The $1 Million bid
Just today, an anonymous bidder was found to have offered the owner of the “amazon.eth” domain name a bid of $1 million in USDC for its ownership.
amazon.eth has a 1 million dollar bid pic.twitter.com/PKrhWtnsl8
— 🏝nathanhead.eth🏝 (@NathanHeadPhoto) July 18, 2022
Although at this point the bid has not yet been accepted, if the $1 million bid does get accepted, it will become the biggest sale for an ENS domain name ever.
This past month ENS domains have seemed to gain a lot of popularity in a short amount of time, with domain registrations even spiking by more than 200% in the first week of July.
In early July, a number of large ENS sales also took place such as the domain “000.eth” being sold for 300 ETH ($344,000) as well as “٠٠٠.eth” being sold for 100 ETH ($114,000).
The Ethereum Name Service itself allows cryptocurrency users to rename their public Ethereum wallet address to something readable like “amazon.eth” rather than the string of 64 digits and letters that a wallet address usually consists of.
Some in the community suspect that because of this utility of ENS domains and how limited they are, as Ethereum scales to more users, ENS domains will become more valuable over time, which is what may be causing users to buy ENS domains in a frenzy this month.