Ethereum founder launches a survey on the fair price of cryptocurrency domains

Due to the growing popularity of Ethereum before the network switched to the Proof-of-Stake (PoS) algorithm and given the growing interest in ENS domains, Vitalik Buterin decided to conduct a survey among his Twitter followers. The developer asked what price the community considered adequate to register and retain ownership of the 5-letter .eth address for 100 years. Buterin offered four options: up to $ 100, from $ 100 to $ 999, from $ 1,000 to $ 9,999, and above $ 10,000.

What is a fair price that someone should have to pay to register and unconditionally guarantee ownership of a 5-letter .eth domain for 100 years?

— vitalik. eth (@VitalikButerin) September 4, 2022

The survey involved 91,130 of Buterin’s followers. Half of the respondents (49.8%) believe that a fair price should be less than $ 100. The votes for the other options were almost equally divided:

• from $ 100 to $ 999 — 18.4%
• from $ 1,000 to $ 9,999 — 12.8%
• above $ 10,000 -18.9%.

Many users wrote that the survey results were quite expected, as people always want to get a good profit or a quality product for a minimal fee. Other community members believe that the cost of domain ownership should increase over time. According to one of Buterin’s subscribers, $ 1 million is a perfectly adequate price for a century of ownership of the .eth domain.

It is worth noting that the most expensive sale of the ENS domain took place in October 2021 — the paradigm. eth address was purchased for 420 ETH (about $ 1.5 million). Within the ecosystem, there is an ENS token that allows users to vote for proposals for the development of the project. The developers believe that this should increase the decentralization of service management.