Vitalik Buterin poll finds community wants 5-letter .eth domain name for $100
A Twitter poll by Ethereum co-founder Vitalik Buterin found that around 50% of the crypto community thinks the fair price for a 5-letter .eth domain name for 100 years is less than $100.

According to community responses, the “under $100” price is best as it would ensure inclusiveness for all, while others argued that the price should be high as ownership of the domain would last for 100 years.
less than $100 because crypto and ENS should be inclusive for everyone. $100 in some countries is a lot of money. who said wealthy citizens in certain areas should be the only ones with a 5 letter username?
— soy.eth (@soy_eth) September 4, 2022
Rodney Ramsey argued that “since .eth has very little use outside of speculation, registration should be as cheap as possible. If people want to speculate and trade them, so be it, au price they want.
Since .eth has very little use outside of speculation, registration should be as cheap as possible. If people want to speculate and trade them, so be it, whatever the cost. But base utility is next to zero right now.
— Rodney Ramsey (@RodneyRamsey) September 4, 2022
Buterin’s responses to some community members showed that he was trying to prevent “scalpers” from parking on a domain and offering small players the opportunity to own those domain names.
The status quo will make it unaffordable for small players to get _anything_ worthwhile in 2050, because everything will be taken.
— vitalik.eth (@VitalikButerin) September 4, 2022
Meanwhile, some community members have argued that Buterin should let the market decide the value of these 5-digit ENS domain names.
why can’t the markets decide this? https://t.co/LViz9SICxA
— 6529 (@punk6529) September 4, 2022
As of press time, more than 85,000 people have participated in the survey.
Buterin pleads for a taxation of the ENS domain
Vitalik Buterin had recently suggested a 3% annual royalty on ENS domain names for the highest bidder.
According to Buterin, ENS domain name holders would have to pay 3% of the highest bid on their address each year to retain ownership. An investor with $500,000 as the highest bid on his domain would have to pay a tax of $15,000 per year.
According to him, this would discourage people from hoarding domains that they do not use.
Booming ENS fields
ENS domain names have seen massive adoption and growth in recent times.
August 2022 statistics for ENS
– 301,000 new .eth registrations (total of 2.17 million names)
– $4.7 million in protocol revenue (all goes to @ENS_DAO)
– 2,744 ETH in revenue (3rd highest month)
– 34K new eth accounts with at least 1 ENS name (total 540k)
– >99% of OpenSea domain volume pic.twitter.com/utU8i4cBMT— ens.eth (@ensdomains) September 1, 2022
According to available data, ENS domain names generated $4.7 million in protocol revenue while adding more than 300,000 new .eth registrations in August.
It was also revealed that ENS domains added 34,000 new accounts with at least one ENS name and generated their third highest revenue in August with 2,744 ETH ($4.3 million).
Community members attribute the growth of ENS domain names to the incoming Ethereum merger.
The use of .eth names has become trendy within the crypto community, as several influential Twitter accounts now use them as profile names.
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