BTC Wires

OpenSea Announced Support for Ethereum Name Service

OpenSea, a market for crypto collectables introduced support for Ethereum Name Service (ENS) names on the platform on May 16th.

ENS, first launched back in May 2017, allowed users to register .eth domain names and link them to ethereum resources such as smart contracts, wallet addresses, and more. This is a particularly useful application given the complex naming system attached to such resources. It had announced an upgrade this month – the replacement of the Ethereum Name Service’s registrar, with the goal of vastly speeding up the process of registering .eth, .xyz, and .lux domain names. Further, names registered on the ENS is to be treated as non-fungible tokens (NFTs), allowing them to be bought and exchanged like similar kinds of tokens on the ethereum network.

According to David Finzer, co-founder of OpenSea, this recent development on the ENS permanent register has made registering an ENS name very simple, requiring only two transactions through the ENS manager app.

He mentioned that ENS names which are now,  ERC721 assets, officially, were previously supported by OpenSea through the ENS Nifty web app. Now, the process has become simpler and more user-friendly.

OpenSea is now the first marketplace to support the permanent registry.

Further, he explained the process of buying an ENS name on OpenSea.

Finzer also elaborated on how to list an ENS name for sale on OpenSea, step-by-step in details. The first step, of course was to migrate an existing ENS name or register a new ENS name. He concluded,

“At OpenSea, we’re excited to play a role in the beginnings of the decentralized web. One of the core building blocks of the decentralized web is a naming service that allows web3 users to send funds, interact with contracts, and use dapps using human-readable names. We think liquidity of these usernames will be vital for driving the space forward.”