Wednesday, September 28

The names in Ethereum of companies from Spain, for sale in OpenSea

The names in Ethereum Name Service (ENS) of the main companies in Spain, as well as those of some of their CEOs, are for sale at OpenSea. As in its day it happened with Internet domains (DNS), the addresses of a large part of important companies around the world are already registered in what is becoming known as Web 3. In fact, some of these names are available for bidding on the OpenSea NFTs trading marketplace.

As happened in the early days of the web, many users have wanted to get ahead of companies and managers and have registered their names, to resell them in the future at a much higher price. Still at the risk that Ethereum addresses may not be dominant in the future. In Spain, names like Santander.eth, PedroSanchez.eth, Zara.eth, Casareal.eth, Martaortega.eth The Anabotin.eth they are already registered and available to bid on. For example, that of amancioortega.eth It is on sale for 9.9 ethers, which at press time is about $ 40,000.

Companies from Spain on Ethereum

The names in Ethereum are the decentralized version of the traditional domains. In the origins of the Internet, to connect to a website it was necessary to enter the IP address of the server. A set of numbers difficult to remember that was replaced by DNS (Domain Name Service), combinations of letters easier to remember that formed the name of the companies that owned that server.

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The same thing happens with Ethereum names. ENSs are a way of transforming long Ethereum crypto portfolio addresses into easily human-readable names. In this way, the companies or users that acquire these names build an identity on the Ethereum blockchain. In this way, they make it easier for other users to transfer cryptocurrencies. For example, before in Blockchain Observatory to receive cryptocurrencies we had to give our entire address: 0xF746683561020b75740CBf25bA24Dc42138FD8dB. Now, if someone wants to transfer cryptocurrencies to us, just write observatorioblockchain.eth in the address section.

They are acquired as NFTs

These names are acquired as NFTs, so they can be auctioned or sold on the NFT markets at any time. For example, if we search the OpenSea market for NFTs, Metaverse.eth’s name is currently priced at $ 12,075, Nike.eth’s is selling for $ 4,000,000, and others like amazon.eth’s for $ 400,000.

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At present, almost all the names of the main companies and personalities in Spain are taken. The name of zara.eth, is for sale for $ 398,000, the name Spain.eth, has a price of $ 17,120, and that of BBVA, has a current price of $ 6,000,000.

Businesses around the world will have to be very vigilant about ownership of these names, as if Web 3 takes hold, users could transfer their funds to the wrong people. Therefore, it is possible that in the not too distant future, many of these companies will have to buy their names as they did in their day with DNS.

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