In August, luxury giant Tiffany made headlines by purchasing the ENS domain tiffany.eth for nearly 330,000 RMB, sparking widespread interest in Ethereum Name Service (ENS) both within and beyond the crypto community. This high-profile acquisition followed a wave of premium ENS domains—such as zhifubao.eth, games.eth, and apple.eth—fetching six-figure sums. Some hail ENS as the cornerstone of digital identity in Web3: decentralized, unique, and human-readable. Others remain skeptical, citing speculative hype, whale dominance, and inflated valuations.
As Vitalik Buterin, who uses vitalik.eth as his Twitter handle, once noted:
"ENS is the most successful non-financial Ethereum application to date—a decentralized phonebook for the blockchain era."
So what makes ENS so compelling? Is it just another speculative NFT trend, or a foundational piece of the decentralized internet? Let’s dive into its purpose, mechanics, resurgence, and practical use.
Why Do We Need ENS?
Domain names have long been among the most valuable digital assets. Consider Business.com, purchased in 1999 for $7.5 million—a move widely mocked at the time—only to be sold in 2007 for $345 million. Domains serve as virtual identities and user-friendly aliases for complex IP addresses.
Without traditional DNS (Domain Name System), we’d have to remember strings like http://36.152.44.95 instead of simply typing baidu.com. But conventional DNS has flaws: it's centralized, vulnerable to censorship, DDoS attacks, and domain seizures. Registrars can revoke access or manipulate pricing through buyback schemes.
ENS solves these issues by decentralizing domain resolution using blockchain technology. It replaces machine-readable wallet addresses—like 0x4bbeEB066eD09B7AEd07bF39EEe0460DFa261520—with simple, memorable names such as yourname.eth.
👉 Discover how blockchain is redefining digital identity—start exploring today.
What Is ENS?
ENS, or Ethereum Name Service, is a decentralized naming protocol built on Ethereum. While not the only blockchain domain system, ENS dominates the space with over 70% market share—making it synonymous with Web3 domains for most users.
Launched on May 4, 2017, by Alex Van de Sande and Nick Johnson of the Ethereum Foundation, ENS maps human-readable names to Ethereum addresses, content hashes, metadata, and more. Each .eth domain is an ERC-721 NFT, meaning it’s unique, ownable, transferable, and tradable.
For example:
- Instead of sharing
0x...abc123, you sharealice.eth. - You can link your email, website, social profiles, and even set a profile picture—all stored on-chain.
This functionality has earned ENS the nickname “the business card of Web3.” As peer-to-peer interactions grow in decentralized apps (dApps), messaging platforms, and social networks, having a persistent, verifiable identity becomes essential.
Imagine searching for a friend in a Web3 chat app by typing bob.eth instead of copying a 42-character hexadecimal string. With ENS, that future is already here.
Why Is ENS Trending Again?
After a quiet period post-2021 NFT boom, ENS saw a dramatic resurgence starting in April 2025. Trading volume surged dozens of times over, rare domains like 000.eth sold for 300 ETH (~$90K at the time), and major brands like Budweiser and OpenSea invested heavily in premium .eth names.
Several factors drove this renewed interest:
1. Capital Rotation from Cooling NFT Markets
As attention faded from metaverse projects, PFPs, and play-to-earn games, investors sought alternative NFT utilities. ENS emerged as a tangible use case—functional digital identity with long-term potential.
2. Lower Network Costs
In early August 2025, Ethereum gas fees dropped to as low as 5 Gwei. Since ENS registration costs depend on gas, lower fees made bulk registrations affordable, encouraging speculative minting and personal adoption alike.
3. FOMO and Speculative Hype
High-profile sales fueled fear of missing out (FOMO). With nearly infinite character combinations, users began registering short numeric domains (e.g., 123.eth) hoping they’d appreciate if Web3 achieves mass adoption.
4. Community-Led Movements
Exclusive clubs like 999 Club (owners of three-digit .eth domains) and 10K Club (four-digit holders) launched coordinated marketing campaigns across social media. Many members are also holders of blue-chip NFTs like Bored Ape Yacht Club (BAYC), amplifying visibility and credibility.
How to Get Your Own ENS Domain
Acquiring an ENS name is straightforward:
- Visit the official platform: ens.domains
- Connect your wallet (MetaMask recommended)
- Search for your desired name (e.g.,
myname.eth) - If available, click “Request to Register”
- Confirm two transactions in your wallet (registration + finalization)
- Wait ~1 minute—your domain is live!
Once registered, you can:
- Set a primary Ethereum address
- Link social accounts and websites
- Add a profile image
- Use it across dApps, DeFi platforms, and Web3 login systems
👉 Secure your digital identity before your favorite name gets taken—claim yours now.
Pricing Structure
- 5+ characters: $5/year
- 4 characters: $160/year
- 3 characters: $640/year
Renewals are optional but recommended to retain ownership. Note: Shorter domains carry higher annual costs due to scarcity.
FAQs About ENS
Q: Is ENS only usable on Ethereum?
A: While built on Ethereum, ENS supports multiple blockchain addresses (Bitcoin, Litecoin, etc.) and content hashes (like IPFS), making it cross-chain compatible.
Q: Can someone steal my ENS domain?
A: No—if you control your private keys. Since each ENS is an NFT in your wallet, it cannot be taken unless you transfer it voluntarily or lose access to your wallet.
Q: Are there risks in buying premium ENS domains?
A: Yes. High-value domains (especially short numeric ones) are speculative. Their value depends on future adoption of Web3 identity systems—there’s no guarantee of appreciation.
Q: Can I sell my ENS domain?
A: Absolutely. As an ERC-721 NFT, you can list it on marketplaces like OpenSea or LooksRare.
Q: Does ENS work with Web2 services?
A: Increasingly yes. Some browsers (like Brave) support .eth resolution natively. Developers are also building bridges between DNS and ENS for broader interoperability.
Q: What happens if I don’t renew my ENS?
A: After expiration, there’s a 90-day grace period to renew without penalty. After that, the domain becomes available for others to register.
Final Thoughts
As major players like Binance embrace blockchain domains, skepticism around ENS’s utility continues to fade. While challenges remain—such as whale hoarding of rare names and zero-width character exploits—the core value proposition stands strong.
ENS isn’t just about speculation; it’s about ownership, identity, and accessibility in a decentralized world. Whether you're securing your online persona or investing in digital scarcity, registering an ENS domain offers meaningful participation in Web3’s evolution.
The ecosystem is still young. Now is the time to claim your space—not just a name, but a lasting digital legacy.
👉 Ready to step into the future of identity? Start your Web3 journey here.