Vitalik Buterin conducted a survey on the fair price for owning ENS domains

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According to a survey conducted by Ethereum co-founder Vitalik Buterin, for 50% of users, the fair price of owning a premium ENS address for 100 years is less than $100.

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In connection with the transition of the Ethereum network to the Proof-of-Stake (PoS) algorithm, in four months the number of Ethereum Name Service (ENS) addresses has increased dramatically and exceeded 2 million. Considering the popularity of ENS, Vitalik Buterin decided to conduct a poll on Twitter on the topic of whether what price the community considers acceptable to register and retain ownership of a 5-letter .eth address for 100 years. Buterin offered four options: up to $100, from $100 to $999, from $1,000 to $9,999, and above $10,000.

91,130 people took part in the survey. Half of the voters (49.8%) believe that the fair price should be less than $100. The votes for other options were divided almost in equal proportions – 18.4%, 12.8% and 18.9%, respectively. Many users wrote that the results of the survey were quite expected, as people always want to get a good profit or a quality product at a minimal cost. Other members of the community believe that costs should increase over time. According to one user, $1 million is a reasonable price for owning a five-letter .eth domain for a hundred years.

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ENS founder and lead developer Nick Johnson found it hard to imagine how valuable ENS would become as the number of users of the service grew. Domain names serve as a decentralized profile for people, giving them the ability to identify themselves across multiple apps and platforms, Johnson said. Note that the most expensive sale of the ENS domain took place in October 2021, when the paradigm.eth address was sold for 420 ETH (about $1.5 million).

Last fall, ENS developers announced the launch of the $ENS token, with which users can vote on proposals for the development of the project. This should increase the decentralization of service management, the developers are sure.

Source: Bits

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