In the past week, many Ethereum users have been betting on Ethmoji (Emoji ENS domain name), of which ❤?.eth was sold at a price of 100 ETH , which is about 160,000 US dollars, setting the seventh highest record in the history of Ethereum domain name service dollar transaction volume (tie for the 5th highest transaction record in history in terms of ETH).
Since April this year, the style of ENS popular domain names has gradually become “outrageous”.
At first, users would sift through some keywords, names, and crypto-related words to register. Later, people started to register 3- and 4-digit numbers in large numbers. These ENS domain names with fewer letters are easier to read, spell, and search. After the “Lucky Numbers” were all registered, everyone began to scramble to register language domain names of different countries and 24-hour domain names with xxhxx.eth as the template. When the market sentiment was sluggish and blue-chip NFTs fell one after another, the popularity of ENS continued. In the end, everyone jumped out of the frame of text and numbers, and moved towards Ethmoji (Emoji ENS domain name) which is more intuitive and has a natural meme factor in the communication mode.
From the perspective of the ENS trading market, Ethmoji has a total of 6 categories, namely single emoticon, double emoticon, triple emoticon, and domain names composed of two, three and four emoticons. Among them, according to the statistics of ens.vision on July 26, the sales volume of triple emoji temporarily ranks first, with a 24-hour sales volume of 41 ETH and a total transaction volume of 433 ETH. The domain name consisting of two emojis has the highest floor price at 17 ETH. In contrast, the domain name of the combination of four expressions is much cheaper, with a floor price of 0.0039 ETH.
Ethmoji = ETH native PFP + utility DID NFT
Why did Ethmoji explode? We try to analyze from the following reasons.
Judging from the overall market situation, the recent market volatility has exceeded historical levels. Major projects and institutions have suffered a lot from the liquidity crisis in the past few months, and panic has spread to this day.DeFi people who once relied on the high returns brought by the incentive plan to walk through the era of “laying and earning” have gradually silenced. Compared with old projects, many new projects with high financing and strong background have appeared in the market recently, but they are still in the early stage and cannot allow investors to obtain high returns in the short term. As the NFT that led the last round of the bull market, although many projects with blue-chip potential or strong creativity were born during this period, in general, its gameplay cannot escape the trilogy of Free mint, synthesis and currency issuance. , and most NFTs can only gain temporary popularity. Therefore, in a market of depressed mood and aesthetic fatigue, the emergence of Ethmoj is like giving people a shot of stimulant.
Ethmoj has Emoj expressions, which were born in the traditional Internet era and have some collective memories themselves, giving people a sense of intimacy. At the same time, these expressions dispel the seriousness and dullness of language communication, and can express negative emotions such as negativity, dissatisfaction, perfunctory, etc. in a more relaxed and lively way. Their entertainment properties also play a “lubricant” role in online communication. Secondly, the professional image in Emoj is very close to real life, you can register Ethmoj with the same profession as your own, for example ??.eth can intuitively see that it represents your profession. This cultural identity expression is similar to PFP NFTs, plus the ENS domain name is inherently part of our decentralized identity, it can be used as a potential universal login for all Web3 things, and it has a strong personal character.
Just as Bayc, CryptoPunk, etc. represent an individual’s identity in the Metaverse, Ethmoj can also be used as a vehicle for self-disclosure and show-off like PFP NFT.
Unique rarity division
How to determine the rarity of Ethmoji?
Each Emoji consists of 1-5 code points, but is displayed as a single character. Since the minimum number of digits in an ENS domain name is 3, for those emojis consisting of at least 3 code points, they can create a single-character ENS domain from which double, triple, and random expressions can be derived The rarity of the constituted Ethmoji can be judged by the different characteristics of the same type of expression in terms of rarity. For example, how many cat head expressions are there in all Emoji, what unique points do these cat head expressions have, and the rarer the characteristics Its rarity is higher. For the division of Ethmoji rarity, you can refer to @TheZombieth’s post.
The current supply of Emoji is 1,326 single expressions, 1,325 triple combinations, and 865 double combinations, which makes its total supply 3,516. Compared with PFP NFTs with a supply of about 8,000, the number is limited and it is easy to cause FOMO. .
Strong exposure and dissemination set off a craze
Since Emoji was created by Shegetaka Kurita in 1999, Emoji has been continuously enriched and developed. At present, Emoji has become the main form of replacing non-verbal cues such as body movements and facial expressions in daily communication, and has become a commonly used communication tool around the world. It is easy to understand by all cultures, and it is this universality that makes the consensus of the Ethmoji community quickly coalesce.
Ethmoji holders spontaneously formed an EthmojiClub and derived them into digital Emoji domain names, namely Ethmoji99 and Ethmoji999, and we saw Twitter @address_eth and @TheZombieth publish content on Ethmoji classification, rarity, use cases, and future imaginative content. As long as you search for Twitter content with Ethmoji or ENS tags, you will see them with a high probability, which also makes these content form a certain influence on Twitter, further increasing the attention of Ethmoji and setting off a boom in a short period of time.
How about Ethmoji after a week of hype?
According to ens.vision data, we found that the 24H transaction volume of the triple emoji, which ranked first in the daily Ethmoji sales list 2 days ago, has dropped from 41 ETH to 1.57 ETH, and the total transaction volume is 437 ETH. Compared to the data 2 days ago, it has only increased by 4 ETH. At this time, the number of tweets related to Twitter is also decreasing. It can be seen that after the hype has been reduced, its sales have plummeted.
In addition, Ethmoji chips are concentrated, and someone bought 7 Ethmoji 99 domains for a total of 101.35 ETH within 6 hours, accounting for 7% of the supply (100 Ethmoji 99 domains in total), which also reduced its floor price from 7 ETH Bring to 18.5 ETH.
Therefore, we can also see that the essence of Ethmoji’s popularity is actually a product of community boosting. At the peak of FOMO sentiment, a few high-value transactions increased the overall transaction volume. Therefore, if you don’t actually use it (or really love it), and you have missed the best opportunity to enter the market, it is recommended that you do not become a contributor to the bubble.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/domain-name-cybersquatting-roll-to-the-emoji-new-thrust-for-ens-bucking-the-trend/
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