Despite not being an AI token, Ethereum Name Service [ENS] joined the group of cryptocurrencies that profited from ChatGPT's expansion. According to the sales bot for the open naming system, the chatgpt.eth domain sold on OpenSea for 6 ETH.
chatgpt.eth bought for 6.00 WETH (9,981.84 USD) on Opensea #ENS #Web3Names #EnsNames https://t.co/CBSEHnwZp1 pic.twitter.com/249hOwJVu7
— ENS Sales Bot 🤖 (@EnsSalesBot) February 7, 2023
Registrations Declining While Domain Sales Are Rising
The seller was named as "Ishmilly" in data from the NFT marketplace, while LongDuck, who had previously owned the domain, bought it for 0.043 ETH. The asset's worth was close to $10,000 when compared to the Ethereum market price at the time of publication.
ENS saw a 46% increase in collection volume in the following 24 hours. Although the substantial sale might have had an effect, the spike showed that additional assets had been brought into the collection. Despite a 335% increase in volume from another collection, this allowed ENS to keep the top spot in the standings for domain sales.
With this agreement, ChatGPT had a bigger impact on the bitcoin industry. For instance, tokens, Fetch, once the AI tool gained widespread acceptance. SingularityNET [AGIX], Ai [FET], and all three have experienced huge value increases.
A million new domains were added to ENS in just under two months at one point because of the volume of registrations it was receiving.
However, this happened in the third quarter (Q3) of 2022. Dune Analytics reports that since then, domain attention has only risen month over month (MoM). At the time of writing, 10,248 domain names have been registered in February.
However, there is a chance that it might get a little bit closer to the ones in December 2022 and January 2023, which were only little different.
