WATCH: From why Kim Kardashian is paying the price for promoting crypto to a new craze among NFT traders, we round up the week's big stories from the world of alternative money
"Domain" names such as coin.crypto and beer.eth are a new breed of NFTs that owners can use to replace the jumble of 16 random numbers and letters that form their digital wallet addresses.
"The range is because there's a definite perceived value difference between different words and lengths." ENS domain names were topped by only NFTs from well-known collections such as CryptoPunks and Bored Ape Yacht Club. Trading in the comparatively new assets has grown apace even as the crypto winter hasMonthly registrations for .eth domain names jumped to over 433,000 in September, the highest in the past 12 months and a 5,000% surge from a year ago, according to Dune Analytics.
Sasha Fleyshman, portfolio manager at investment firm Arca in Los Angeles, said domain names were likely to grow in popularity as crypto became more mainstream.
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