ENS benefits from the AI season as the ChatGPT domain is sold for 6 ETH

ChatGPT’s ENS domain sold for 139x its original sale price.
Registrations remain a mess despite an increase in 24-hour trading volume.

Despite not being part of the AI token, Ethereum name service [ENS] became part of the cryptocurrencies that gained from the rise of ChatGPT. According to the open naming system sales bot, the chatgpt.eth domain was sold for 6 ETH on OpenSea.

bought chatgpt.eth 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

How many Worth 1,10,100 ENS today?

Domain sales are up, but registrations are down

Information from the NFT marketplace showed that a certain “Ishmilly” was the seller. Meanwhile, LongDuck, who previously owned the domain, bought it for 0.043 ETH. At the time of writing, the value of the asset was close to $10,000 compared to Ethereum’s market price.

After the sale, ENS’s collection volume increased by 46% in the past 24 hours. While the big sale may have played a role, the spike meant other assets traded below the collection. This helped ENS stay at the top of the list domain sales stands despite a volume increase of 335% from another collection.

Source: OpenSea

This sale also cemented the impact ChatGPT has had on the crypto space. For example tokens, fetch. Ai [FET] And SingularityNET [AGIX] have registered huge increases in value since the AI tool became widely popular.

At one point, ENS accumulated so many registrations that it registered a million additional domains in less than two months.

However, this was in the third quarter (Q3) of 2022. But since then, domain attention has only been month-to-month (MoM), according to Dune analysis. At the time of writing, the number of domain registrations for February stood at 10,248.

But there’s a chance it could be closer to December 2022 and January 2023, which was a slight difference.

Source: Dune analysis

ENS price rises because ChatGPT is one step ahead

Further, CoinMarketCap Data revealed that the ENS token price is up 2.15% in the last 24 hours. Trading volume also increased by 20.26% over the same period. Simplifying the walk, more tokens have been traded than the day before, regardless of the accumulated profit or loss.

Interestingly enough, it was possible that the crypto ecosystem would continue to see the effect of the increased adoption of AI. This was due to Microsoft’s actions.

Read Ethereum name service [ENS] Price prediction 2023-2024

A few days ago, the company invested in OpenAI, the company that invented the ChatGPT tool. However, the technology company went a step further by adding the tool to its Bing search engine.