Transaction volume for domains for Web3 sites has outstripped digital artworks from the renowned Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) nonfungible token (NFT) collections.
The recorded trading volume for ENS names has reached 3,762 ETH or 6.6 million USD on OpenSea in the past seven days.
The biggest players in the Web3 domain name space include Ethereum Name Service (ENS) and Unstoppable Domains.
Commenting on an article published by Forbes this weekend, Sandy Carter, Senior Vice President of Unstoppable Domains, said: “I’m very excited about how NFT domains can become your one-stop shop for Web3 that gives you your digital identity.”
“In the future, your NFT domain will allow you to move your reputation between all your favorite apps, games and metadata servers without giving up control of your data,” he added.
Most likely aided by the surge in interest in Web3 domains, Ethereum Name Service’s own service token ENS has gained more than 12% over the past 7 days and was trading at 15.42 USD at 10:40 UTC.