The rise of the DID market? Data analysis of leading protocols like ENS, NFT.Space, etc

Source: BombePro.eth

Summary

When we query the entire DID market, the first priority should be to look for the ENS market.

Observe how the ENS official website, core developers, and corresponding trading markets are developing and operating.

The interpretative information in between can be analyzed through vertical users on Twitter, thinking from multiple angles, and then expanding from ENS to bit, Space ID, and ultimately the prospects of the entire DID market, which can be explored.

Core Team Members

First, from the multi-signature list of the team, we can know who the core group of this project includes.

• Nick Johnson -- CEO of True Names Limited, the company behind ENS
• Sergey Nazarov -- Co-founder of Chainlink Oracles
• Dan Finlay -- Founder and Group Manager of Metamask
• Taylor Monahan -- CEO of MyCrypto, one of the earliest Ethereum wallets, Metamask member
• Aron Fischer -- Author of the Colony white paper, former member of the Ethereum Foundation & Swarm
• Jason Carver -- Ethereum Foundation
• Martin Swende -- Ethereum Foundation

Most of the personnel on the multi-signature list are members of the Ethereum Foundation or leaders of Ethereum ecosystem projects.

From the multi-signature list, we can largely determine which interest group this project belongs to. By understanding the resources held by the group, we can speculate on what the project might do in the future, as well as the upper and lower limits of the product. This allows us to estimate whether the current market value of the project is overestimated or underestimated.

ENS on Dune

ENS data analysis, since ENS is also a contract, users register domain names and complete resolution operations through specific contracts. It does not provide intuitive data displays. The developer of ENS, makoto has completed the visualization of most of the data related to ENS through Dune, which can be considered as the official data visualization display on the Dune platform.

ENS

The content of the sections is distributed as follows:

Essentially, there are six sections, not twelve.

To understand the data displayed by Dune, apart from price factors, the rest are information that already exists on-chain.

Then, for different contracts, the types of data that can be called are also different.

If you want to understand the meaning expressed in the images, apart from looking at the titles written by the author, checking the SQL query statements on Dune is a more intuitive way to understand.

For example, the literal meaning expressed by the bar chart in image 1: the monthly statistics of ENS data created.

The query statement is as follows, understanding SQL can more accurately digest the chart information.

SELECT datetrunc('month', evtblock_time), COUNT()*

FROM

(

*SELECT * FROM ethereumnameservice."ETHRegistrarController1evt_NameRegistered"*

WHERE evtblocktime > (current_date - interval '1' year)

UNION

*SELECT * FROM ethereumnameservice."ETHRegistrarController2evt_NameRegistered"*

WHERE evtblocktime > (current_date - interval '1' year)

UNION

*SELECT * FROM ethereumnameservice."ETHRegistrarController3evt_NameRegistered"*

WHERE evtblocktime > (current_date - interval '1' year)

) AS r

GROUP BY 1

The information in the other sections is more about categorizing and displaying the internal Records data of ENS.

At this point, the author reinterprets the six sections above for readers to understand.

1. Statistics of all registered ENS domain names, with the number of registered ENS in one year distributed monthly.
2. Statistics of all addresses that have registered ENS, with the number of new addresses registered in one year distributed monthly. (Registering ENS does not mean registering a domain name, so the number in section 2 is greater than that in section 3)
3. Since one address can register multiple ENS, this section only counts the first registered addresses.
4. The avatar setting is done in the ENSTEXT RECORDavatar.
5. Statistics of the number of Content addresses set.
6. Statistics of the number of other token addresses set. (BTC/LTC/DOGE, etc.)

The information in these six sections measures the user acceptance indicators of the ENS ecosystem from different angles.

The total number of ENS is a rough data point, counting the number of registered ENS. We cannot use the total number of ENS to assess the current state, nor can we use the total to evaluate the degree of user acceptance of ENS.

If ENS is the leader in the DID field, we cannot use this data as a measurement standard, and the same goes for other DID projects. The statistical values of the six sections above decrease in order. The Avatar record set and Total Dweb(contenthash) set reflect the real user activity more.

Just like in the NFT market, avatars are an important group division, and setting ENS avatars is a means of distinguishing users.

It is not hard to imagine that in the future DID market, people will be more willing to communicate with users who have avatars rather than with users who have gray avatar names.

In web2 social media, everyone has their own profile, avatar, and other link information. The ENS records already have the tools to add this information, but only 2% have set avatar addresses.

This precisely indicates that the entire DID market is still in its early stages, and everyone still has the opportunity to find a suitable path.

ENS-Daily

Here we can see the latest registered domain names.

It is important to note that the Name list may not necessarily be the latest registered domain names; they may be domain names bound for resolution.

It is possible that the holder of this domain name is registering other domain names.

For example, the domain name awwal1.eth holds multiple domain names.

Therefore, when we want to check the details of a domain name, the ENS official website is the best place.

Just like how we view Etherscan as the most professional browser for Ethereum, it contains the most comprehensive data information.

New User Radio

This can reflect the health of the ENS ecosystem on a macro level.

The more new players entering the market, the more prosperous the market is, and selling at this time may be a good opportunity.

Since the current blockchain addresses are not bound to people, new addresses can only serve as an indirect reference.

.eth revenue

1. Total revenue of the ENS ecosystem, with two price statistics based on ETH market value (based on current ETH price and real-time ETH price).
2. Monthly revenue distribution of ENS.
3. ENS renewal revenue, also with two price statistics based on ETH market value.
4. Monthly renewal situation distribution of ENS.

A good protocol/project/ecosystem needs to have a continuous cash inflow to support the sustainable development of the project.

Since its announcement in March 2017, ENS has undergone six years of development to gain market recognition.

Later projects in the same track are built on the achievements of this project, and project parties should maintain respect for their predecessors.

ENS released/registered names

1. Domain names that have expired and can be re-registered, need to be premium registered within 21 days, after which they can be re-registered.
2. Details of expired domain names, users can query detailed information in this section for subsequent registration.
3. Statistics of newly registered domain names, distributed monthly, to see which months are peak periods, and then choose the right time to sell.
4. Display the latest registered domain names, allowing users to understand the latest dynamics in the market.

Digit .eth ENS dashboard

1. Currently, statistics of holders and registered names for 3, 4, and 5-digit ENS, where ENS registered names can be (0-9, a-z, A-Z) or other national languages or emojis. Therefore, in terms of character limits, the most accepted in the market currently is the numeric assets (0-9), as they can be quantified and counted.
2. It can be seen that in May, [0-9].eth had a particularly large explosion, corresponding to the surge in funds and personnel in the digital domain market at that time.
3. You can query the addresses of 3-digit holders, allowing users to check on the ENS browser.
4. You can query the addresses of 4-digit holders, allowing users to check on the ENS browser.
5. You can query the addresses of 5-digit holders, allowing users to check on the ENS browser.

812.eth holder domain list

Through the ENS official browser, we can see which domain names are held behind this address, and then find potential investment logic.

OG ENS

Statistics of addresses that registered ENS domain names from May 9, 2017, to July 27, 2020.

Because of the cutoff time, DeFi had just become popular, and new players were continuously entering the market.

The users who registered ENS before this time had different feelings, values, and financial investments regarding ENS. In the list of the first 50 registrations, we can see some familiar names:

apt-get, zhifubao, cryptotrade, upgrade, sandbox, nickname, cofounder, bittrex, microsemi, education, schemes, coindash, checking …

From the earliest registration list, we can see that the players who registered ENS domain names at the beginning were still mostly considering semantic directions. They did not limit themselves to short phrases but chose complete meaningful words as much as possible, which is different from later domain name players.

The author speculates that the earliest registrants were not specifically investing in domain names and did not have such considerations.

At that time, ENS was just an experimental product of the Ethereum Foundation, and it was unclear how far it could go or in which direction it would develop.

From the perspective of the time dimension of ENS domain names, we can summarize several valuable judgment criteria.

1. Maintain curiosity about any new thing; small-scale attempts are worthwhile.
2. The blockchain industry emphasizes orthodoxy but should not be overly rigid. Even ENS took over four years of development to gradually gain public acceptance.
3. The market is likely to lag behind project development; projects that gain short-term recognition may not necessarily be good in the long run.
4. Being a pioneer may yield the largest dividends, but a slight misstep can lead to failure before dawn.

ENS.vision

This is currently the largest trading platform for ENS, officially launched in March 2022.

It has detailed classifications for ENS: 10K, 100K, 999, 3 digit, etc.

It also refers to OpenSea's classification, sorting each section by floor price and 24H trading volume in descending order.

From the current market trading conditions, we can see that the trading volume of 10K is the highest because, compared to the floor price of 999, the investment threshold and quantity are more favorable for market trading.

Through top sales (7d), we can see that the transaction amount includes tasi.eth, which is a short word phrase. This indicates that, in addition to the numeric market, valuable meaningful words can also serve as important references.

Due to the limited number of numeric domain names, other national language numeric domain names have also been hyped up simultaneously, such as Chinese numbers and Arabic numbers.

Single Ethmoji, due to its limited digits, has created a certain investment/speculation value because of its scarcity.

Moreover, since emojis also include numbers, alternative markets such as moji99 and moji10K have emerged.

Looking at the entire ENS domain trading market, it is currently primarily represented by numeric domain trading.

Alphabetical domains are limited by semantics, requiring investors to understand the market better, and because they are currently undervalued, they actually have greater investment potential.

Bulk Registration Tools

In ens.vision, users can register in bulk through bulk search or by loading custom text.

Users can find the corresponding tutorial in the official documentation.

With the standardization of the NFT market, bulk buying and selling have also become standard features of the trading market. Specific information can also be found in the ens.vision documentation.

RARE.ID

rare.id is a domain trading market similar to ens.vision.

Due to the popularity of Space ID, it has also launched a domain filtering tool for SID, which readers can check themselves.

ENS is the leader in the entire DID field, and this track is also full of competitors.

By thoroughly researching ENS, we can basically understand the current gameplay in the DID field and look forward to how other project parties can achieve results based on the achievements of their predecessors.

nft.space

Official website: , ,

Twitter: metascanpro

Discord:

NFT.Space is a new type of .nft resolving domain launched by twitterscan, referencing ENS for the Ethereum network.

Imagination Space

Currently, the NFT market plays an important role in the blockchain field, aside from the other major branch of ERC20 token types.

Whether it is Opensea dominating the market with billions of dollars or Yuga Labs launching BYAC, APE, Meebits, Cryptopunk, OthersideMeta, all are leading projects in the NFT market.

These leading projects worth billions of dollars support the imaginative space of the entire NFT market.

The .nft domain developed by NFT.Space perfectly fits the domain resolution project for the NFT market.

Imagine that in the future, the domain names for NFT projects will all be xxx.nft instead of xxx.eth.

Doesn't this align more with the characteristics of an NFT project?

Are you willing to buy some high-quality NFT domain names in advance?

The market's imaginative space brought about by this is worth investors' consideration.

According to publicly available information, some rules of the AMA are organized as follows: starting in October 2022, it will be sold to all users and bundled with rare domain names and Twitterscan Pass Card.

1. Holders of the Pass can register one 3-digit .nft domain and one 4-digit .nft domain.
2. 000.nft, 111.nft, 222.nft, 999.nft, a total of 10 NFTs will be auctioned publicly.
3. Some brand domain protections will be provided, and these domain NFTs will be given to the brand parties.
4. A snapshot of Twitterscan Pass holders will be taken 48 hours before the Public Launch.
5. The price for 3-digit registration is 640 USD, renewal 640 USD, and priced in ETH.
6. The price for 4-digit registration is 160 USD, renewal 160 USD, and priced in ETH.
7. The price for 5-digit registration is 5 USD, renewal 5 USD, and priced in ETH.

NFT.Space is an important infrastructure launched by the twitterscan project, reflecting the value of the Twitterscan Pass Card.