Amazon.eth ENS domain owner disregards 1M USDC buyout offer on Opensea

It’s unclear if the owner was unaware of the offer, didn’t consider it fair, or if the bidding and domain owner accounts were linked to boost the asset’s price.

An anonymous OpenSea wallet address offered Amazon.eth 1 million USDC (a dollar-pegged stablecoin) on Tuesday. The offer to buy ENS went unanswered, so no transaction occurred. Five months ago, the domain name sold for 33 Ether (around $100,000).

The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea

According to data from Opense, other bid offers for the ENS domain stand at just around $6,200 USDC. The domain name is verified as official by ENS and is owned by anonymous OpenSea user 4761BF.

The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea

ENS is a blockchain naming protocol that ENS allows users to store avatars and profile images across devices and send or receive crypto and nonfungible tokens. To sell a.eth domain on OpenSea, users must first connect their wallet and register an address at manager.ens.domains.

While many crypto enthusiasts took up interesting or creative names for the ENS service, others have embarked on the practice of domain-flipping. That is, registering ENS domains containing names of prominent entities beforehand and then later demanding a high price for the domain should the said entity wishes to enter the Web 3.0 space later on.

Since its inception in 2017, there have been over 1.67 million .eth domain registrations across approximately 482,000 owners. More than 154,100 registrations were made recentl between July 5 to July 18, partly due to lower gas fees and continued interest from entities seeking to enter the Web 3.0 space. To date, the ENS collection on OpenSea has witnessed approximately 46,200 ETH ($71.5 million) in cumulative transaction volume.

Source: Cointelegraph