Domain name squatting "volume" to the emoticon package? New impetus for ENS to rise against the trend
In the past week, many Ethereum users are fully betting on Ethmoji (Emoji ENS domain name), among which ❤🔥.eth was sold at a price of 100 ETH, which is about 160,000 US dollars, setting the seventh highest record in the history of Ethereum domain name service US dollar transaction volume (Tie 5th highest transaction ever in ETH terms).
Since April this year, the painting style of ENS popular domain names has gradually become "outrageous".
At first, users screened some keywords, names, and encryption-related words to register. Later, people began to register a large number of 3- and 4-digit ENS domain names. These ENS domain names with fewer letters are easier to read, spell, and search. When all the "Jixiang accounts" were registered, everyone began to rush to register the language domain names of different countries and the 24-hour time domain names with xxhxx.eth as the template. When the market sentiment was sluggish and blue-chip NFTs fell one after another, the popularity of ENS remained undiminished. In the end, everyone jumped out of the framework of text and numbers, and moved towards Ethmoji (Emoji ENS domain name), which is more intuitive and naturally has meme factors in the communication mode.
From the perspective of the ENS trading market, there are 6 categories of Ethmoji, which are single expression, double expression, triple expression, and domain names composed of two, three, and four expressions. Among them, according to ens.vision’s statistics on July 26, the sales volume of triple emoji temporarily ranked first, with a 24-hour sales volume of 41 ETH and a total transaction volume of 433 ETH. The floor price of a domain name composed of two emoji is the highest, at 17 ETH. In contrast, the domain name of the combination of four emoticons is much cheaper, with a floor price of 0.0039 ETH.
Ethmoji = ETH native PFP + utility DID NFT
Why is Ethmoji so popular? We try to analyze from the following reasons.
Judging from the overall situation of the market, the recent market turmoil has exceeded the historical level. Major projects and institutions have suffered a lot from the liquidity crisis in the past few months, and the panic has spread to this day. The DeFi people who used to rely on the high returns brought by the incentive plan to go through the era of "laying and earning" have gradually become silent. Compared with old projects, many new projects with high financing and strong background have appeared in the market recently, but they are still in the early stage and cannot allow investors to get high returns in the short term. As the NFT that led the last round of bull market, although many projects with blue-chip potential or strong creativity were born during this period, in general, its gameplay cannot escape the trilogy of Free mint, synthesis and coin issuance , and most NFTs can only win momentary popularity. Therefore, in a market of depressed mood and aesthetic fatigue, the appearance of Ethmoj is like a shot of stimulant for people.
Ethmoj has Emoj expressions. They were born in the traditional Internet era, and they have some collective memories themselves, giving people a sense of intimacy. At the same time, these expressions eliminate the seriousness and tediousness of language communication, and can express negative emotions such as negativity, dissatisfaction, and perfunctory in a more relaxed and lively way. Their entertainment attributes also play the role of "lubricant" for online communication. Secondly, the professional image in Emoj is very close to real life. You can register an Ethmoj with the same profession as your own. For example, 👨🍳.eth can intuitively see your profession. The expression of this cultural identity is similar to PFP NFT. In addition, the ENS domain name is part of our decentralized identity. It can be used as a potential universal login method for all Web3 things, and its personal characteristics are strong.
Just like Bayc, CryptoPunk, etc. represent an individual's identity in the metaverse, Ethmoj can also quickly rise as a carrier of self-disclosure and show-off like PFP NFT.
unique rarity division
How to determine the rarity of Ethmoji?
Each Emoji consists of 1-5 code points, but is displayed as a single character. Since the minimum number of digits in an ENS field is 3, for emoji that consist of at least 3 code points, they can create a single-character ENS field from which double, triple, and random emoji can be derived The rarity of the composed Ethmoji can be judged by the different characteristics of similar expressions, for example, how many cat-head expressions are there in all Emoji, what are the unique points of each of these cat-head expressions, and the rarer characteristics The higher its rarity. For the division of Ethmoji rarity, you can refer to @TheZombieth's post.
The current supply of Emoji is 1326 single expressions, 1325 triple combinations, and 865 double combinations, which makes its total supply 3516. Compared with PFP NFT with a supply of about 8000, the number is limited and it is easy to cause FOMO .
Strong exposure and dissemination set off a wave of popularity
Since Shegetaka Kurita created Emoji in 1999, Emoji has been continuously enriched and developed. It has become the main form of daily communication instead of non-verbal cues such as body movements and facial expressions, and has become a communication tool commonly used around the world. The universality of Emoji is also It is easy to understand by all cultures, and it is this universality that quickly coalesces the consensus of the Ethmoji community.
Summarize
Summarize
What are the numbers after a week of Ethmoji hype?
According to ens.vision data, we found that the 24H transaction volume of the triple emoji, which ranked first in Ethmoji's daily sales list 2 days ago, has dropped from 41 ETH to 1.57 ETH, and the total transaction volume is 437 ETH. Compared with the data 2 days ago, it only increased by 4 ETH. And at this time, the number of Twitter and related tweets is also decreasing. It can be seen that after the hype heat has decreased, its sales have also plummeted.
In addition, Ethmoji chips are relatively concentrated. Someone bought 7 Ethmoji 99 domain names at a total price of 101.35 ETH within 6 hours, accounting for 7% of the supply (100 Ethmoji 99 domain names in total), which also increased its floor price from 7 ETH Bring to 18.5 ETH.
Therefore, we can also see that the hot nature of Ethmoji is actually a product of community boosting. At the peak of FOMO sentiment, a small number of high-value transactions increased the overall transaction volume. Therefore, if it is not for actual use (or true love), and you have missed the best time to enter the market, I suggest you not to become a contributor to the bubble.
