Ethereum Name Service, or ENS, Amazon.eth domain on Tuesday received $1 million offer (stablecoin pegged to the US dollar) from an anonymous wallet address on OpenSea. However, the offer to buy the ENS domain remained unanswered, and the transaction did not go through. And this despite the fact that the last sale of the domain name was five months ago for 33 ether (at that time it cost about $100,000).

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Expired million dollar offer for Amazon.eth on OpenSea | Source: opensea

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At the time of publication, it is not clear whether the owner was simply not informed of the offer, or did not consider that its value was close to fair, or the bidding and domain owner’s accounts were linked in an attempt to increase the price of the asset. (in the so-called “excellent trade”). According to Opense, other ENS domain bids are only around $6,200. The domain name has been verified as official by ENS and is owned by an anonymous OpenSea user 4761BF.

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Expired million dollar offer for Amazon.eth on OpenSea | Source: opensea

ENS is a blockchain naming protocol that allows users to store avatars and profile pictures for use across devices, and send or receive cryptographic and non-fungible tokens. In order to sell a .eth domain on OpenSea, users first need to connect their wallet and register an address on manager.ens.domains and then point it to their OpenSea account.

While many crypto enthusiasts have chosen interesting or creative names for the ENS service, others have begun the practice of switching domains. That is, by first registering ENS domains containing the names of well-known organizations, and then demanding a high price for the domain if said organization wishes to enter the Web 3.0 space later.

Since its inception in 2017, there have been over 1.67 million .eth domains registered with approximately 482,000 owners. More than 154,100 registrations were recently made between July 5 and 18, due in part to lower gas fees and continued interest from organizations looking to enter the Web 3.0 space. To date, the total transaction volume of the ENS collection on OpenSea has been around 46,200 ETH ($71.5 million).