To understand the value of the ENS or ethereum name service we first need to understand the functionality of Cryptocurrencies, in this case, Ethereum which currently has around 4 million active users with the active users numbers growing each day. It is most likely that Ethereum will remain the most dominant and generally used Cryptocurrency in the following years because of it wide range of possibilities it ensures with smart contracts. So let me explain what is an ENS domain.

So as you might know you can create your free crypto wallet with metamask extension on pc or install the app on mobile. After you have done that you will be assigned with your unique ETH wallet address, similar to one you get on your debit card in bank. After that, if you want to receive the Ethereum from another person you need to send them your Ethereum wallet address for them to know where to send and also vice versa. You can buy ETH directly on metamask or buy it on exchanges like Binance.com and send it to your wallet address. Your ETH wallet address is in the format of a 42-character hexadecimal address with 0x appended in front. It is something like this 0x5c735d012db8nb5c735d012db8nb11bd. As you can see it is not so memorable, so to simplify it there is something called ENS - Ethereum name service is a protocol that maps long crypto addresses to simple URLs.

Why to use ENS?

So you can register the desired name.eth and link it to your ethereum wallet address and when somebody needs to send you the ETH you just send them name.eth instead of 0xmanynumbersandletters. The minimum character length is 3, so as you can imagine, the fewer characters the more value the domain has. It can be in a format of numbers 000.eth, letters abc.eth or combination 0a0.eth. So this has practical implications but along with that because of the scarcity it also has a branding and status value. Many famous brands are starting to recognize this and started to buy their ENS names so they are looked at as a going along with new technlogies. Some examples of companies and famous people.

For example, if apple includes the cryptocurrencies as their payment methods for you to buy some product in the store you will simply need to go to the store and get a receipt in ETH/Bitcoin amount and then you say your ENS palic.eth and cashier says send 1.2 ETH for Iphone 13 on apple.eth, you make a payment, it is visible in the system in a minute or two and you just easily bought your Iphone with crypto, it would be much harder to do that with sending ETH to 0x842jda... and my address is 0x42e3f...

The ETH will be your identity in the Metaverse, but also there is possibility your e-mail address, phone number(chats) and everything in web3 willbe linked to your .eth domain.

Another possible way of big companies can use it is to create a subdomains for their customers whih will unlock them some special discounts. For example Luxury brand Gucci can register subdomain marko.guci.eth and sell it to their customer Marko who can then use it to access special web3 webshop that has all clothes on 30%.

We will see this trend rising in the following months and years so maybe you need to register your name/surname/company name while/if it is still free. Currently with almost 1.3 million ENS domain names registered there is not so much to register as almost all English dictionary words are registered. Good thing is that even if they are taken there is a chance for you to easily buy them in a few clicks from the current owner and you can do that on official NFT marketplaces like Opensea or LooksRare.

So how do you register your first ENS domain?

The official website to do so is ens.domains, you connect your Metamask wallet, your search for the desired address and you can register the domain if it is free. If not you can search for it on Opensea and give the offer to purchase to the current owner.

How much does it cost to register the domain?

5+ character .eth names: $5 in ETH per year.
4 character .eth names: $160 in ETH per year.
3 character .eth names $640 in ETH per year.


On the link below you can see the list of the domains which sold for the highest amounts so far.

Click here

By my experience so far in the space this will be the best bets for you can make while picking your domain:

-Numbers, shorter the better 3D (3digits) 4D,5D ...
-Dictionary words
-Names and Surnames
-Company names
-Top 1000 dictionary words in other languages, more people speaking it the better

How to sell your domain

The process is really easy, after you have registered your domain it will immediately appear under your profile on opensea marketplace, you just need to connect with your metamask. To sell it just need to log in and press sale put the amount for which you are willing to sell and the time for how long it will be available for sale. After somebody buys it you will receive the asked amount -2.5% which is Opensea fee.

Valuable tools

If you are considering registering the domains there are two great tools to use one is being ens.tools where you can see what domains are available and also when the registration is expiring. You can register a domain for how many years you want and renew it before it expires. If you don't do it it will expire and after the grace period that will inherit expires as well, in which the price will be astronomical, other people will be able to register it.

Another good tool is ens.vision in which you can put up a list of 1000 words to see which ones is still available for sale and also you can see the floor price (minimal price for which one ENS in a group is selling for) of the package. So for example currently the 999 Arabic numbers floor price is 1.4 ETH.

At the moment there are a lot of opportunities to register dictionary words in Portugese, Spanish as they are not yet fully registered. Also, there are a lot of word plays, - and number usage that can be valuable and memorable and that is not yet registered like payment4travel.eth or travel-worldwide.eth.

Custom image

You can also put your desired picture which will be displayed on the marketplace, it is cool and it can stand out from other ones on the marketplace.

If you want to do that you need to go to app.ens.domains > my account > click on desired domain name you own > Add/Edit Record > upload .png image 1:1 (example 1080x1080px) on Imagur > copy the image link (it ends with .png) and past it under avatar > click save > pay 1-3$ fee. You are done, the last thing you need to do before you see the change is to go to opensea, click on your domain and click refresh metadata (circular pointing arrow) and your domain picture will change in a few minutes :)

I hope this was helpful and if you have any questions feel free to connect with me on Twitter or send me a mail.