Web3 profiles mostly consist of a username (ENS name) and potentially a pfp NFT.
But your name matters far more than your pfp:
- Your name shows up everywhere ENS is integrated (which is any major web3 app)
- Pfp NFTs don’t show up by default and when they do, it’s often via your ENS profile
- Your ENS name has much more utility: identity, payments, websites.
- Your ENS name even links the other components of your web3 profile like pfp, bio, email etc.
Now compare floor prices of the most popular pfp collections to those of, for example, 3- or 4-digit ENS names
There’s no greater asymmetric opportunity right now
For the last couple days, daily ENS user growth has been over 3k with gas prices falling below 10 gwei
The inverse correlation between ENS growth and Ethereum gas prices is awfully strong (lower graph shows average daily gwei)
450k free uni.eth subdomains have now been minted
This clearly shows the main thing holding back ENS growth in terms of root domains is the registration costs (especially with current gas fees)
The demand is there
Basescan is now the first block explorer besides Etherscan to have ENS integrated
Honestly don't understand why it took them so long or why the other L2 and other EVM-compatible block explorers still don't have it
Google integrates ENS
You can now simply google anyone's Ethereum address through their ENS and it will display their data from Etherscan
ENS is core web3 infrastructure and even the biggest web2 players recognize this
Microsoft, Shopify, GoDaddy and now Google
There is very little that needs to happen for ENS to go parabolic (e.g. metamask issuing subs / some significant SIWE integrations)
There is a whole lot that needs to happen for ENS to become irrelevant (Ethereum/web3 becoming irrelevant)
Uniswap is now issuing free uni.eth subdomains for people using their app
It doesn't get much easier for the average person than receiving a free gasless ENS name as the first step of creating a wallet and setting up your web3 profile
Other wallets will probably follow this example soon
Rather than trying to argue against types of ENS names you don't hold bags of, your time is much better spent trying to understand the rationale of people who do hold them.
If your first instinct is to attack instead of considering, you'll miss out on a lot of opportunities.
Honestly didn't expect Pokémon ENS to sell for up to 4.5 ETH while secondary markets are almost dead
Don't hold any myself but congrats to anyone with crazy Pokémon conviction
Not sure how far away this is, but there is a threshold where enough people own an ENS name that even web2 platforms start to feel pressure to integrate ENS/SIWE so as not to miss out on a large potential user base
