Ornella Hernandez

<div id="highlights-block_632b7fa4230ad" class="highlights">
        <ul>
                <li>Vulcan Forged game studio closes $8 million Series A round led by Skybridge Capital</li>
                <li>Bored Ape Yacht Club and Azuki NFTs have had the top NFT sales within the last seven days</li>
            </ul>
    
</div>



<h3>NFTs for healthcare</h3>



<p>NFTs are tackling the UN’s sustainable development goals.&nbsp;</p>



<p>The Women in Innovation Fund (WiN Fund), co-founded by Reckitt, is using the proceeds from NFTs sales to invest in women-led healthcare startups in Africa, addressing the UN’s third such goal — good health and well-being.</p>



<p>NFTs for good causes is a growing concept, and the benefits of blockchain for healthcare and democracy are being explored in countries with unstable leadership.&nbsp;</p>



<p>Women are more attuned to the healthcare needs of their community, according to Corinne Momal-Vanian, the executive director of the Kofi Annan Foundation. “Women entrepreneurs – from what we&#8217;ve seen in Africa — can drive innovation, can drive efficiency and can really have a place in the healthcare ecosystem that governments cannot fill,” she said at a UN-adjacent roundtable discussion in New York this week.</p>



<p>Representatives from the World Health Organization and the World Economic Forum also participated.</p>



<p>WiN Fund co-founder Pradeep Kakkattil, reminded the audience of an “unacceptable” statistic: Only 2% of venture capital investments globally go to women-led enterprises, despite the fact that women-led businesses deliver 35% higher returns and create 6 times more jobs. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">&#39;It takes an entire ecosystem to build an entrepreneur.&#39; &#8211; Pradeep Kakkatill, Co-Founder WIN Fund <a href="https://twitter.com/hashtag/UNGA?src=hash&amp;ref_src=twsrc%5Etfw">#UNGA</a> <a href="https://twitter.com/hashtag/UnitedNations?src=hash&amp;ref_src=twsrc%5Etfw">#UnitedNations</a> <a href="https://twitter.com/hashtag/WiNFUND?src=hash&amp;ref_src=twsrc%5Etfw">#WiNFUND</a> <a href="https://twitter.com/hashtag/WiNFUNDAFRICA?src=hash&amp;ref_src=twsrc%5Etfw">#WiNFUNDAFRICA</a> <a href="https://twitter.com/hashtag/NFTsforhealth?src=hash&amp;ref_src=twsrc%5Etfw">#NFTsforhealth</a> <a href="https://twitter.com/hashtag/GlobalGoals?src=hash&amp;ref_src=twsrc%5Etfw">#GlobalGoals</a> <a href="https://twitter.com/hashtag/UnitingBusiness?src=hash&amp;ref_src=twsrc%5Etfw">#UnitingBusiness</a> <a href="https://twitter.com/hashtag/UNGA2022?src=hash&amp;ref_src=twsrc%5Etfw">#UNGA2022</a> <a href="https://t.co/JPQQH8wc2c">pic.twitter.com/JPQQH8wc2c</a></p>&mdash; winfund (@winfundNFT) <a href="https://twitter.com/winfundNFT/status/1572242503159382020?ref_src=twsrc%5Etfw">September 20, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3>Coinbase partners with ENS&nbsp;</h3>



<p>Coinbase has teamed up with the Ethereum Naming Service (ENS) to create its own Web3 usernames.</p>



<p>Built on top of ENS infrastructure, Coinbase usernames are ENS subdomains that contain a ‘.cb.id’ at the end, rather than ‘.eth.’</p>



<p>Users can then replace their 42-character address with a personalized wallet address.</p>



<p>Users who already own an .eth domain now have the option to transfer the ownership of the ENS name to a Coinbase Wallet and choose between a Coinbase username or an existing ENS username as the primary username for that wallet.</p>



<p>A .cb.id username is not tied to Ethereum and can be used on multiple networks to send and receive crypto.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">🤝 Yes to ENS &amp; yes to cb․id<br><br>We’re making web3 more accessible for everyone, so we’ve partnered with <a href="https://twitter.com/ensdomains?ref_src=twsrc%5Etfw">@ensdomains</a> to create cb․id usernames, a free-to-claim web3 username!<br><br>Now available on Coinbase Wallet extension <a href="https://t.co/E6X81Owq20">pic.twitter.com/E6X81Owq20</a></p>&mdash; Coinbase Wallet (@CoinbaseWallet) <a href="https://twitter.com/CoinbaseWallet/status/1571948476639887361?ref_src=twsrc%5Etfw">September 19, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Simplified wallet addresses have recently surged in popularity during the last few months of the bear market. Since July, ENS registrations have increased by 200%, and the total volume of NFT sales has increased by 80% in the past three months, as per <a href="https://nftgo.io/collection/ens-ethereum-name-service/overview" target="_blank" rel="noreferrer noopener">NFTGo data</a>.</p>



<h3>Latest NFT loyalty program: Scotch &amp; Soda</h3>



<p>Amsterdam-based lifestyle brand Scotch &amp; Soda is upping its consumer loyalty program by launching NFT-based membership for <a href="https://web3.scotch-soda.com/" target="_blank" rel="noreferrer noopener">Club Soda 3.0</a>.</p>



<p>Holders are granted exclusive access to merchandise and events, as well as the ability to co-create clothing with Scotch &amp; Soda partners.&nbsp;</p>



<p>Each NFT acts as a membership card to what is called the “Free Spirit” community of Scotch &amp; Soda lovers.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">The wait is over! Find out which Founders Pass NFT you got now. Look out for our 10 unique 1-of-1 and our 100 rare tokens.🔮 Reveal your NFT now: <a href="https://t.co/zcffIcKGsA">https://t.co/zcffIcKGsA</a><a href="https://twitter.com/hashtag/ScotchandSoda?src=hash&amp;ref_src=twsrc%5Etfw">#ScotchandSoda</a> <a href="https://twitter.com/hashtag/NFTs?src=hash&amp;ref_src=twsrc%5Etfw">#NFTs</a> <a href="https://twitter.com/hashtag/web3?src=hash&amp;ref_src=twsrc%5Etfw">#web3</a> <a href="https://twitter.com/hashtag/NFTCommunity?src=hash&amp;ref_src=twsrc%5Etfw">#NFTCommunity</a> <a href="https://twitter.com/hashtag/NFT?src=hash&amp;ref_src=twsrc%5Etfw">#NFT</a> <a href="https://t.co/8HLqMkBuHZ">pic.twitter.com/8HLqMkBuHZ</a></p>&mdash; Scotch &amp; Soda (@scotch_soda) <a href="https://twitter.com/scotch_soda/status/1572606073655021568?ref_src=twsrc%5Etfw">September 21, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Cloud software company Salesforce chose Scotch &amp; Soda to debut its <a href="https://cms.blockworks.co/salesforce-pilots-cloud-based-nft-service/" target="_blank" rel="noreferrer noopener">pilot NFT Cloud service</a> to help companies make and manage NFTs.</p>



<h3>NFTs back in Minecraft?</h3>



<p>Minecraft developer Mojang recently <a href="https://cms.blockworks.co/web3-watch-yuga-labs-takes-voyagers-to-the-otherside-while-minecraft-bans-nfts/" target="_blank" rel="noreferrer noopener">banned NFT support inside Minecraft client and server applications</a>, but MyMetaverse has found a way around the new restriction.</p>



<p>The metaverse company re-implemented playable NFTs not only on Minecraft game servers, but also on modified versions of Grand Theft Auto (GTA).</p>



<p>Using NFTs running on Efinity, a Polkadot parachain developed by gaming platform Enjin, MyMetaverse works with developers who build third-party servers atop of Minecraft and GTA 5 core games.</p>



<p>Simon Kertonegoro, CEO of MyMetaverse, told Blockworks it works similar to how WordPress allows people to use their technology to create custom websites. “These servers are self-hosted, modified instances of the game, running independently of Mojang or Rockstar,” Kertonegoro said.</p>



<p>Thus, Mojang and GTA parent-company Rockstar have no official affiliation with the NFTs.</p>



<p>“The modified versions allow the game to connect with crypto wallets and recognize NFTs in the game, which the user can then use as in-game items,” he added.</p>



<h3>GameFi by the numbers</h3>



<ul><li>Blockchain gaming studio Vulcan Forged <a href="https://www.prnewswire.com/news-releases/skybridge-capital-leads-series-a-funding-round-for-leading-metaverse-company-vulcan-forged-301629588.html?tc=eml_cleartime" target="_blank" rel="noreferrer noopener">secured</a> $8 million in a Series A funding round led by the investment firm SkyBridge Capital, founded by former White House Communications Director Anthony Scaramucci. The round includes the option to invest an additional $33 million. Funding will go toward accelerating the growth of “Metascapes,” a play-to-earn feature that allows Vulcan users to build their own land in the metaverse. Vulcan Forged has about active 200,000 users across 15 games and decentralized applications (dapps).</li></ul>



<ul><li>Blockchain game Splinterlands sold out its newest card pack edition, Riftwatchers, in less than 2 minutes, pocketing $5.2 million on the sale of 500,000 packs. Within hours, members of the community had also purchased 30,000 previous card packs, according to the company. 25 million SPS — Splinterlands’ native token — was either immediately burned or sent to the SPS Foundation DAO.</li></ul>



<ul><li>Immortal Game, the company taking the game of chess into Web3, has <a href="https://venturebeat.com/games/immortal-game-raises-12m-to-build-out-web3-chess-platform/" target="_blank" rel="noreferrer noopener">closed</a> $15.5 million across two rounds, including a $12 million investment in July. TCG Crypto led the Series A round — backers Cassius, Greenfield One, Sparkle Ventures, Kevin Durant and Rich Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital also participated. It plans to use the funding to build out its platform, which is currently in beta form for users who wish to opt in to the game’s play-and-earn system.</li></ul>



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Web3 Watch: NFTs Return to Minecraft, Coinbase Provides ENS Usernames

<div id="highlights-block_6319d73558517" class="highlights">
        <ul>
                <li>Metaverse trademark registrations through 8 months of 2022 have eclipsed all of 2021</li>
                <li>ENS is the top ETH collection with the most volume on OpenSea within the past seven days</li>
            </ul>
    
</div>



<p>This week Blockworks looked at <a href="https://cms.blockworks.co/venture-capital-bullish-on-building-gamefi-in-a-bear-market/" target="_blank" rel="noreferrer noopener">the state of the nascent GameFi market</a> and how venture capital is keen on pouring money into it during a bear market.</p>



<p>Additionally, a new Solana NFT collection, y00ts, <a href="https://cms.blockworks.co/latest-solana-nft-collection-gives-ethereum-nfts-a-run-for-their-money/" target="_blank" rel="noreferrer noopener">has already generated</a> over $7 million worth of secondary sales since Monday despite minting delays.</p>



<p>Blockworks recaps other notable stories that caught the eyes of the Web3 Watch.</p>



<h3>Metaverse trademarks are booming</h3>



<p>4,150 trademarks relating to Web3 and the metaverse have been filed with the United States Patent and Trademark Office (USPTO) so far in 2022. This is slightly more than twice as many as the total metaverse trademark registrations in all of last year — 1866.</p>



<p>Three major brands have put in their own filings in the past week alone, including carmaker Ford, <a href="https://tmsearch.uspto.gov/bin/showfield?f=doc&amp;state=4804:24nzyj.5.1" target="_blank" rel="noreferrer noopener">with 19 trademark applications</a> for virtual cars, trucks, vans and clothing, as well as an NFT marketplace.</p>



<p>Sony Music filed trademarks for its Columbia Records logo to be used in association with NFT-backed media including art &amp; music NFTs, music and podcast production as well as artist management and music distribution services.&nbsp;</p>



<p>Luxury goods retailer Hermes also <a href="https://tmsearch.uspto.gov/bin/showfield?f=doc&amp;state=4804:24nzyj.6.7" target="_blank" rel="noreferrer noopener">filed trademarks</a> for its name to be linked to NFTs, an NFT marketplace, virtual clothing and footwear, fashion shows and cryptocurrencies. It also mentions plans to create game software featuring avatars, alongside plans for user authentication services for e-commerce transactions.</p>



<p>Metaverse and NFT-focused applications are growing all over the world. The European Union Intellectual Property Office (EUIPO) claims to have registered 205 applications using the term “metaverse” in 2022.</p>



<p>The number of NFT-specific applications was 1,277 in 2021, but as of September 2022 there have been 1,157 applications.</p>



<h3>For hoops fans who fancy NFTs</h3>



<p>The National Basketball Association (NBA) and the National Basketball Players Association (NBPA) <a href="https://www.nba.com/news/nba-nbpa-sorare-fantasy-game-release" target="_blank" rel="noreferrer noopener">teamed up</a> with French startup Sorare to launch a free-to-play fantasy basketball game this Fall.</p>



<p>Sorare is mostly popular in Europe for its NFT-based fantasy soccer game. After partnering with the Major League Baseball (MLB) association in July, it has now turned to basketball fans as it expands within the US.</p>



<p>This partnership makes Sorare the official NFT fantasy partner of the NBA and gives it the rights to use official NBA league and team logos across its products.</p>



<p>The fantasy game will be released in time for the 2022-23 season and plans to enable fans to buy and sell digital NFT cards representing their favorite players and teams, while putting together a line-up that can earn them points based on the real-life performance of NBA players.</p>



<p>The NBA is no stranger to NFTs and already counts on the Dapper Labs-run NBA Top Shot&nbsp; NFT marketplace where sports fans can buy, sell and trade video clips from basketball games.&nbsp;</p>



<h3>GameStop links up with FTX</h3>



<p>GameStop partnered with FTX, making the video game retailer FTX’s preferred retail partner in the US.</p>



<p>The partnership intends to “introduce more GameStop customers to the crypto exchange’s community and its marketplaces for digital assets,” a press release stated.&nbsp;</p>



<p>While additional details including the financial terms have not been disclosed, one known perk is that GameStop stores will begin selling FTX gift cards.</p>



<p>GameStop recently launched its own NFT marketplace and its own crypto wallet. When the company submitted its Q2 2022 earnings report on Wednesday, however, it noted that any recent financial success may not stem from these new products.</p>



<p>“Revenues earned from our digital asset wallet and NFT marketplace were not material to the condensed consolidated financial statements for the three and six months ended July 30, 2022,” its quarterly SEC filing <a href="https://gamestop.gcs-web.com/static-files/3a9d968d-b9f5-415a-877f-895d5ac83ed3">stated</a>.&nbsp;&nbsp;</p>



<p>Additionally, <a href="https://cms.blockworks.co/ftx-bringing-crypto-swaps-to-reddit/" target="_blank" rel="noreferrer noopener">FTX also recently partnered with Reddit and Arbitrum</a> to allow users to pay gas fees on Reddit’s “Community Points” tokens using fiat currency.</p>



<h3>New blockchain game alert&nbsp;</h3>



<p>The top Solana marketplace Magic Eden <a href="https://cms.blockworks.co/solana-marketplace-magic-eden-to-offer-ethereum-nfts/" target="_blank" rel="noreferrer noopener">recently expanded to the Ethereum blockchain</a>. One of its first ETH NFT mints on the Magic Eden Launchpad includes a collaboration with Web3 game studio Azra Games.</p>



<p>Azra, which recently closed a $15 million seed round led by Andreessen Horowitz (a16z), announced plans to launch a collection of profile picture (PFP) NFTs called “The Hopeful,” as part of its upcoming “Legions &amp; Legends” game.&nbsp;</p>



<p>This game is an ETH-powered collectible and combat role-playing game (RPG) set in a sci-fi fantasy universe. The company is led by Mark Otero, former General Manager of EA Capital Games, whose credits include Star Wars: Galaxy of Heroes.</p>



<p>Magic Eden recently shifted its focus to gaming by <a href="https://cms.blockworks.co/web3-watch-gamestop-opens-nft-marketplace-magic-eden-fund-focuses-on-web3-gaming/" target="_blank" rel="noreferrer noopener">launching a new venture capital fund</a>, dubbed Magic Ventures, that focuses on investments in Web3 games from third parties as well as its own. </p>



<h3>Vitalik polls crypto Twitter </h3>



<p>Ethereum co-founder Vitalik Buterin has been <a href="https://twitter.com/VitalikButerin/status/1566763265291681793?s=20&amp;t=tUl1e0BorDII4mHyLfgsCg" target="_blank" rel="noreferrer noopener">tweeting</a> out a slew of polls lately — from personal random questions, like which crypto personality he respects the most, to what a fair price for a 5-letter .eth domain name is. </p>



<p>In response to the latter, 91,130 participants chimed in and around 50% of the crypto community thinks that the fair price for a 5-letter .eth domain name for 100 years is less than $100. The same goes for .eth domain for 10 years.&nbsp;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">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?</p>&mdash; vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1566421042872164355?ref_src=twsrc%5Etfw">September 4, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>At the same time, Buterin has called for Ethereum Name Service (ENS) domain taxation, suggesting a 3% yearly fee on ENS domain names for the highest bidder.</p>



<p>For example, an investor with $500,000 as the highest bid on their domain should pay a $15,000 taxation annually to maintain ownership. According to him, this would demotivate people from hoarding domains they aren’t using.</p>



<p>ENS has been trading at the top of the secondary sales charts on OpenSea, as the ETH collection with the most volume within the past seven days.</p>



<p>It <a href="https://twitter.com/ensdomains/status/1565374366791057409?s=20&amp;t=QtnSDYyIgx2haUUm3qqE1Q" target="_blank" rel="noreferrer noopener">registered</a> 301,000 new .eth domains in August and touts a total of 2.17 million names so far.</p>



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<hr class="wp-block-separator">


Web3 Watch: GameStop Partners with FTX and Sorare Creates NBA Fantasy Game

<div id="highlights-block_62ced49ece387" class="highlights">
        <ul>
                <li>Web3 identity providers such as ENS and Unstoppable Domains use NFTs as a gateway to alphanumeric wallet addresses</li>
                <li>MoonPay is one of 265+ applications that supports Unstoppable Domains</li>
            </ul>
    
</div>



<p>Unstoppable Domains and ENS (<a href="https://cms.blockworks.co/?s=ethereum+name+service" target="_blank" rel="noreferrer noopener">Ethereum Name Service</a>) have become the top two blockchain domain name providers for Web3 users. Web3 domains are NFTs that can be traded, but they can also be used as a shorthand for cryptocurrency wallet addresses to send or receive crypto.</p>



<p>On <a href="https://cms.blockworks.co/tag/opensea/" target="_blank" rel="noreferrer noopener">OpenSea</a>, ENS <a href="https://opensea.io/rankings?category=domain-names&amp;sortBy=one_day_volume" target="_blank" rel="noreferrer noopener">ranks</a> first within the domain names category in terms of cumulative trading volume and for having the largest collection of items, while Unstoppable Domains ranks second. </p>



<p>During the first weekend of July, the number of ENS registrations peaked from 11,042 to 34,357, <a href="https://datastudio.google.com/u/0/reporting/8785928a-71d5-4b17-9fea-fe1c937b064f/page/RoKgC" target="_blank" rel="noreferrer noopener">according</a> to a data tracker created by ENS developer Nick Johnson, possibly due to the falling price of ether (ETH) and lower than average gas fees. Even social media activity surrounding ENS reached new highs that week, the social tracking platform Lunar Crush <a href="https://twitter.com/LunarCrush/status/1544591008230281216?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1544591008230281216%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fethereum-name-service-registrations-surge-by-200-amid-lower-gas-fees" target="_blank" rel="noreferrer noopener">tweeted</a>.</p>



<p>Unstoppable is the fifth collection under collectibles NFTs with the most users in the past 24 hours, <a href="https://dappradar.com/rankings/category/collectibles/1" target="_blank" rel="noreferrer noopener">according</a> to DappRadar, ahead of Art Blocks and Yuga Labs’ Otherdeed for Otherside.</p>



<p>Sandy Carter, senior vice president and channel chief at Unstoppable Domains, explained to Blockworks that Web3 may feel “complex and confusing for people getting started.” NFT domains serve to expand access and “bring more people into the world of Web3.”&nbsp;</p>



<p>Part of its mission is to make the user experience “easy to navigate,” which includes accepting credit card, PayPal and cryptocurrency to buy Unstoppable domains. In contrast to ENS domains, which can carry an annual renewal fee anywhere between $5 to $640 paid in ether, Unstoppable Domains charges a one-time fee that generally starts at $5 but can cost more.</p>



<p>On Wednesday, Unstoppable announced a partnership with crypto payment services provider MoonPay to enable users to buy cryptocurrency and send it to their wallet using their Unstoppable Domains name.&nbsp;</p>



<p>The two companies aim to make all .crypto or .nft decentralized URLs more useful.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Welcome to a simpler web3 🌙 We’re stoked to announce our partnership with <a href="https://twitter.com/moonpay?ref_src=twsrc%5Etfw">@moonpay</a> to make buying crypto even easier 🤝<br><br>Try it out ➡️ <a href="https://t.co/nT3xr7s6zB">https://t.co/nT3xr7s6zB</a> <a href="https://t.co/bfgz4yL3BB">pic.twitter.com/bfgz4yL3BB</a></p>&mdash; unstoppable.nft (@unstoppableweb) <a href="https://twitter.com/unstoppableweb/status/1547174139131305988?ref_src=twsrc%5Etfw">July 13, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>MoonPay enables users to buy and sell 90 cryptocurrencies using credit and debit cards, Apple Pay and Google Pay to include over 30 fiat currencies.&nbsp;&nbsp;</p>



<p>That “reduces a major barrier to entry,” said Carter, who believes that NFT domains “will be as ubiquitous as email” in the future. As opposed to Web2, where “your identity and data are owned by corporations,” users can own, control and choose to share an identity built across Web3, she added.</p>



<p>MoonPay shared with Blockworks that it wants to “make sure that the infrastructure of Web3 is attuned to the evolving needs of consumers” in order to “support greater use and familiarity with Web3.”</p>



<p>The company also confirmed that there are no additional fees associated with the Unstoppable integration. Currently, a flat fee of $4.99 plus a 3.5% transaction fee is applied to purchases below $141, and a fee of 7% is deducted from purchases over $142.&nbsp;</p>



<p><a href="https://cms.blockworks.co/moonpay-primes-nft-minting-service-hypermint/" target="_blank" rel="noreferrer noopener">Moonpay recently launched HyperMint</a>, a self-service platform that enables large companies and brands to create, manage and mint utility NFTs at scale.&nbsp;</p>



<p>Since its 2019 inception, MoonPay has processed more than $3 billion in transactions and counts on a customer base of more than 12 million global users.</p>



<hr class="wp-block-separator">
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Web3 Service Providers Focus on Improving the User Experience

Sebastian Sinclair

<div id="highlights-block_6226d5f13a010" class="highlights">
        <ul>
                <li>The vote follows a month of debate and consideration by the community over whether to boot Brantley Millegan for comments made in 2015</li>
                <li>ENS founder Nick Johnson abstained from the vote</li>
            </ul>
    
</div>



<p>Ethereum Name Service (ENS) director of operations Brantly Millegan has been reinstated at the DAO following a month of debating by the community over controversial comments he made in 2015.</p>



<p>According to a snapshot vote by delegate members ended Sunday, Millegan has won the right to retain his seat as head of operations by a margin of 5.88%. The vote to remove Millegan saw 1.4 million votes cast to retain the director versus 1.2 million in favor of his departure.</p>



<p>The DAO vote was based on one vote per token and not one vote per individual. Millegan, who holds the majority of the DAO&#8217;s native token ENS, was able to vote against his ousting while ENS founder Nick Johnson abstained from the vote.</p>



<blockquote class="wp-block-quote"><p><strong>&#8220;Through this Social Proposal, the DAO shall decide whether Brantly Millegan is deemed capable, or otherwise, of continuing his role as the Director of the Foundation Company, and to appoint a suitable replacement if he is deemed incapable,&#8221; a section of the Snapshot vote reads.</strong></p></blockquote>



<p>Johnson initially took to Twitter to <a href="https://twitter.com/nicksdjohnson/status/1490196337463533569?s=20&amp;t=ftQVnZYj_BUjPMV85-L6LQ" target="_blank" rel="noreferrer noopener">defend</a> Millegan and assisted the director in <a href="https://twitter.com/nicksdjohnson/status/1490398146077540352?s=20&amp;t=lLVew3GWY8JJITPJWaW09Q" target="_blank" rel="noreferrer noopener">getting his message across</a> to his audience following a ban against him by the social media platform.</p>



<p>The ENS founder eventually conceded to public outcry and moved to <a href="https://twitter.com/nicksdjohnson/status/1490581937375027202?s=20&amp;t=cD-9pxrMqI3DXI-jrZ87Og" target="_blank" rel="noreferrer noopener">terminate the contract</a> of Millegan at True Names Limited — the nonprofit that funds and organizes development on ENS.</p>



<p>Last month, <a href="https://cms.blockworks.co/ens-community-reconsiders-directors-role/" target="_blank" rel="noreferrer noopener">controversy erupted</a> within ENS&#8217; community after a more than 5-year-old tweet by Millegan resurfaced. Millegan was removed from his role as community steward shortly after, though the vote over his directorship had hung over his head for more than a month.</p>



<p>Blockworks attempted to contact Millegan but did not receive a response by press time.</p>



<hr class="wp-block-separator">
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<hr class="wp-block-separator">


ENS Foundation Retains Director Following DAO Vote Over Controversial Tweet

Luke Conway


<h2><strong>What is the Ethereum Name Service?</strong></h2>



<p>Crypto addresses are long strings of numbers and letters designed to be read by computers. These long addresses have led to confusion and even loss of funds.&nbsp;</p>



<p>The Ethereum Name Service, or ENS, is a distributed technology based on the Ethereum blockchain that provides an elegant solution to long and confusing crypto addresses: one URL, just like a website name or email, that represents a crypto address.</p>





<p>ENS maps the long public address crypto users are familiar with and replaces it with a simple name that is easy to read and easy to remember. Something cumbersome like, “0xDC25EF3F5B8A186998338A2ADA83795FBA2D695E” becomes as simple as “Alice.eth.”</p>



<p>ENS takes the same concept of the Domain Name Service (DNS), which mapped simple website names to their IP addresses, to make crypto addresses easy to read and share.</p>



<h3><strong>Quick facts</strong></h3>



<ul><li>ENS is composed of two Ethereum smart contracts: the ENS registry, which records domain names, and the Resolver, which translates domain names to machine-readable addresses and vice-versa.</li><li>Like in the early days of DNS names, users are rushing to secure their ENS domains before they become unavailable.</li><li>ENS supports .com, .org, .io, .app and more.</li><li>Browsers currently supporting ENS include Brave, Opera, Status (mobile), MetaMask Mobile (mobile) and Puma.<strong> </strong>ENS will not work on a browser such as Chrome or Safari.</li></ul>



<h2><strong>ENS vs. DNS</strong></h2>



<p>The Domain Name System and the Ethereum Name Service are both protocols that dictate how certain operations, either on Web2 or Web3, are resolved. The DNS converts the IP address of the web server into a human-readable string called a URL.</p>



<p>The Ethereum Name Service converts an Ethereum address into a human-readable string formatted like a URL. In this way, they both function similarly to a phonebook. You can look up a name in a phone book and get the number that will allow you to reach that person.</p>



<p>The DNS is part of a system of internet protocols that allow Web2 to work seamlessly. Web3, a concept describing the new decentralized version of the internet, is still a developing field and has issues that hinder adoption, such as long addresses.</p>



<p>Right now, the primary purpose of ENS is to give people and applications an easy way to read and share crypto addresses and make Web3 more digestible. As Web3 matures, it is likely more protocols will be built around ENS.</p>



<h2><strong>How to get an ENS domain</strong></h2>



<p>Those who want to create a new ENS domain will need a crypto wallet, such as MetaMask, Torus or MEW, and some ether (ETH). From there, users can search for the domain of their choosing on <a href="https://app.ens.domains/">https://app.ens.domains/</a>.</p>



<p>The cost of a new ENS domain is at least $5, but users should expect to pay fees for the Ethereum transaction.</p>



<h2><strong>ENS DAO&nbsp; </strong></h2>



<p>The ENS is operated by a decentralized autonomous organization (DAO), essentially an organization with no centralized leadership. The DAO governs itself through the ENS token — holders of the token submit proposals and cast votes for future development.</p>



<h2><strong>What is the ENS governance token?&nbsp;</strong></h2>



<p>The ENS governance token is a token created on the Ethereum blockchain. They are traded by speculators, as are most crypto tokens, but the token also serves a specific role in the ENS community. ENS community members — as members of the DAO — use their tokens to communicate changes they wish to see in the organization.</p>



<p>For instance, later this year, the ENS community will <a href="https://docs.ens.domains/v/governance/ens-dao-constitution">vote</a> on the ENS Constitution — a set of rules and guidelines for how ENS should be governed. Each token can cast one vote. If 67% of votes cast on a particular article of the constitution are “yes” votes, then the article passes.</p>



<p>If a user wants to submit a proposal to the ENS community, they will need the support of 100,000 tokens for it to go to a vote.</p>



<p><strong>Users can vote on many things in the DAO, including:</strong></p>



<ul><li>Executable proposals for a series of smart contract operations, such as allocating a portion of the liquid token pool to fund a grant for Web3 development.</li><li>Social proposals, carried out off-chain, such as appointing or removing a director, member or supervisor.</li><li>Constitutional amendments, which alter how ENS conducts its mission.</li></ul>



<h2><strong>ENS token distribution&nbsp;</strong></h2>



<p>To <a href="https://ens.mirror.xyz/-eaqMv7XPikvXhvjbjzzPNLS4wzcQ8vdOgi9eNXeUuY">distribute</a> ENS tokens to the community, the developers allocated 25% of the ENS Token supply to users who had already signed up for an ENS domain by Oct. 31, 2021.</p>



<p>Token distribution:</p>



<ul><li>Community treasury: 50%</li><li>Airdrop to .eth holders: 25%&nbsp;</li><li>ENS contributors: 25%</li></ul>



<p>The developers then airdropped these tokens to wallets connected to the ENS domains. Fractions of the ENS token pool were distributed based on how long a given user owned an ENS domain.</p>



<p>In practice, this means that many casual users received tens of thousands of dollars of tokens in the airdrop — while people who have held domains for many years received even more generous allocations.</p>



<h2><strong>ENS foundation</strong></h2>



<p>The ENS Foundation is a legal entity that represents the DAO. This way the foundation can provide legal support to DAO participants.</p>



<p>The foundation has three directors — Nick Johnson, Brantly Millegan and Kevin Gaspar — who are also ENS core team members.</p>



<p>The ENS Foundation is a foundation company limited by guarantee and is incorporated in the Cayman Islands. It is a nonprofit and cannot pay out dividends to its directors or members. The Foundation itself has one supervisor, filled by a Cayman Islands firm, DS Limited.</p>



<p>For more transparency, a list of documents related to the ENS Foundation can be found <a href="https://docs.ens.domains/v/governance/the-ens-foundation">here.</a></p>



<h2><strong>Ethereum Name Service vs. Unstoppable Domains</strong></h2>



<p>ENS is not the only domain name service provider competing for supremacy on Web3. There are several competitors, including Unstoppable Domains. Both Unstoppable and ENS are built on top of Ethereum and both allow users to create and register a human-readable address for crypto addresses.</p>



<p>However, there are some big differences in the philosophy underlying these projects. ENS is an open and public protocol developed by a nonprofit that is heavily focused on decentralization and community decision making.</p>



<p>Unstoppable Domains operates as a for-profit company, and many of its domains have been “brand protected” to prevent individuals from owning certain names, words or phrases. This practice has led to complaints where people have been unable to buy a domain with their name, despite the fact it is not in use, such as JohnSmith.domain.</p>



<h2><strong>How to buy ENS</strong></h2>



<p>ENS tokens can be purchased at the following exchanges:</p>



<p><strong>Centralized</strong></p>



<ul><li>Binance</li><li>Okex</li><li>FTX</li><li>ByBit</li></ul>



<p><strong>Decentralized</strong></p>



<ul><li>Uniswap</li><li>SushiSwap</li><li>1Inch</li></ul>



<h2><strong>Frequently asked questions</strong></h2>



<h4><strong>What is the ethereum name service (ENS)?</strong></h4>



<p>Ethereum name service is a protocol that maps long crypto addresses to simple URLs. Instead of copying long crypto addresses, users can simply send crypto to domains such as “Alice.eth.”</p>



<h4><strong>How much does an ENS domain cost?</strong></h4>



<p>ENS domains cost as little as $5 before ethereum transactions fees.&nbsp;</p>



<h4><strong>Where can you buy ENS tokens?</strong></h4>



<p>ENS tokens can be bought at a number of different exchanges such as Binance, FTX and more.</p>



<h4><strong>How much are ENS tokens?</strong></h4>


<p>[stock_market_widget type=&#8221;accordion&#8221; template=&#8221;chart&#8221; color=&#8221;#5B35D5&#8243; assets=&#8221;ENS-USD&#8221; start_expanded=&#8221;true&#8221; display_currency_symbol=&#8221;true&#8221; api=&#8221;yf&#8221; chart_range=&#8221;1mo&#8221; chart_interval=&#8221;1d&#8221;]</p>


What Is the Ethereum Name Service (ENS)?

<div id="highlights-block_62006d613415f" class="highlights">
        <ul>
                <li>Delegates and members of the Ethereum Name Service foundation are weighing a draft proposal to terminate Millegan</li>
                <li>The development is dividing ENS&#8217; community, with some defending the director&#8217;s right to religious views, while others decry discrimination</li>
            </ul>
    
</div>



<p>Controversy has erupted within the Ethereum Name Service (ENS) community after a more than 5-year-old tweet by the foundation&#8217;s director of operations, Brantly Millegan, resurfaced on Friday.</p>



<p>Delegate members from the Decentralized Autonomous Organization protocol are weighing up whether to terminate Millegan&#8217;s directorship for comments made in 2016 about his views regarding homosexuality, transgender people and abortions, among other topics.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="358" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg" alt="" class="wp-image-16819" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=50 50w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/tweet-1024x358.jpg?w=1184 1184w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Brantly Millegan&#8217;s tweet from 2016</figcaption></figure>



<p>A <a href="https://discuss.ens.domains/t/draft-proposal-dao-wide-proposal-to-terminate-directorship-of-brantly-millegan-at-the-ens-foundation/10277?u=viaeth" target="_blank" rel="noreferrer noopener">draft proposal</a> has been put forth to DAO delegates — those with voting rights making decisions affecting the protocol — to weigh in. The draft is not an active proposal, but a consideration for delegates to bring forward a vote on whether he should remain in a director role.</p>



<p>ENS is a domain name service designed to turn Ethereum machine-readable addresses into human-readable ones.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">not really anything to address? i adhere to the world&#39;s largest religion and apparently that&#39;s not allowed in web3?</p>&mdash; brantly.eth (@BrantlyMillegan) <a href="https://twitter.com/BrantlyMillegan/status/1490181411004952576?ref_src=twsrc%5Etfw">February 6, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>The controversy has called into question the nature of DAOs and the relationships they possess with voting delegates. Millegan is ENS&#8217; largest and most powerful delegate with <a href="https://www.withtally.com/governance/eip155:1:0x323A76393544d5ecca80cd6ef2A560C6a395b7E3" target="_blank" rel="noreferrer noopener">377.68K votes</a>. Coinbase comes in at number two, only slightly behind Millegan with 333K of the DAO&#8217;s total voting share, after the director&#8217;s power gap narrowed following the resurfaced tweet.</p>



<p>Millegan has since been removed from his role as community steward following a &#8220;simple indicative majority vote&#8221; on Sunday, after the director defended his views in a Twitter Space discussion on Friday.</p>



<p>&#8220;After listening carefully to the concerns of the stewards, delegates, and many other community members, I believe it is in the best interest of ENS and the communality to remove Brantly from his role as a Community Steward,&#8221; said community steward member <a href="https://discuss.ens.domains/t/removing-brantly-eth-as-a-community-steward/10408/11" target="_blank" rel="noreferrer noopener">Kevin</a> &#8220;validator.eth&#8221; on Sunday.</p>



<p>While the 2016 <a href="https://twitter.com/brantlymillegan/status/731075016691994624?s=21" target="_blank" rel="noreferrer noopener">tweet</a> has since been removed for violating Twitter&#8217;s rules, a debate has opened up within social circles as to how the director&#8217;s views should be dealt with, if at all.</p>



<p>&#8220;You are accusing Brantly of misconduct but failed to produce evidence of such actions in this proposal. Right now, I see that the DAO has power to remov[e] him, but that’s all,&#8221; said one delegate going by the name &#8220;irreverent.&#8221;</p>



<p>&#8220;I would suggest clearly stating the relevant information (ie, the tweets, spaces, etc.) as well as any guidelines or specific clauses that he has violated. If the current proposal is submitted, I will vote NO because I see no clear misconduct being displayed&nbsp;given the current information within the draft&nbsp;and it feels like an angry mob vote.&#8221;</p>



<blockquote class="wp-block-quote"><p><strong>&#8220;This vibe is definitely something I do not want the DAO to give off.&#8221;</strong></p></blockquote>



<p>Those within the community defending Millegan&#8217;s right to free speech point to examples that the director has not acted upon his beliefs to de-platform minorities within the protocol. Others still call into question his public views and their effect on the protocol&#8217;s market health.</p>



<p>&#8220;He is bad for ENS because he creates segregation of users by his words and actions, said &#8220;Healing Visions,&#8221; another ENS delegate weighing in on the draft proposal. &#8220;Many have removed their .eth name, the price is down and will abandon the platform. If you can’t get behind it from a human perspective, which would be very sad, then from a business perspective it doesn’t make sense to keep him.&#8221;</p>



<p>The lead developer of ENS, Nick Johnson, announced Monday morning that Millegan would no longer be working with True Names Limited, the nonprofit company that funds ENS development.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">True Names Limited (TNL), the nonprofit that funds and organises development on <a href="https://twitter.com/ensdomains?ref_src=twsrc%5Etfw">@ensdomains</a>, has terminated the contract of Brantly Millegan effective today.</p>&mdash; nick.eth (@nicksdjohnson) <a href="https://twitter.com/nicksdjohnson/status/1490581937375027202?ref_src=twsrc%5Etfw">February 7, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Blockworks attempted to contact Millegan to discuss the draft proposal but did not receive a reply by press time.</p>



<hr class="wp-block-separator">
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<hr class="wp-block-separator">


ENS Community Reconsiders Director’s Role

Macauley Peterson

<div id="highlights-block_618b14439d2aa" class="highlights">
        <ul>
                <li>137,000 Ethereum wallets are eligible to claim the airdrop</li>
                <li>Initial DAO members are asked to vote on an ‘ENS Constitution’ and select delegates</li>
            </ul>
    
</div>



<p>Ethereum Name Service, or ENS, calls itself “an open public utility that belongs to the community.” Today, that vision started coming into focus as the project is in the process of empowering a decentralized autonomous organization (DAO), starting with the widespread distribution of its ENS governance token.</p>



<p>Unlike many crypto/Web3 projects, ENS has received no venture capital <a href="https://cms.blockworks.co/?s=funding" target="_blank" rel="noreferrer noopener">funding</a>, and fully 25% of the new tokens are earmarked for its users. Anyone who registered an .eth domain name prior to October 31 qualified to claim a variable number of ENS tokens — the precise figure depends on when and for how many years the domain was registered.</p>



<p>Some 137,000 individual wallet addresses are able to claim a median average of 180 tokens, ENS’ Director of Operations Brantly Millegan told Blockworks via <a href="https://cms.blockworks.co/discord-ceo-hints-at-crypto-wallet-integration-some-users-boycott/" target="_blank" rel="noreferrer noopener">Discord</a>. The price of this newly-trading asset is naturally volatile, but at time of publication that average amount is valued at around $11,000.</p>



<div class="wp-block-image"><figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/w2L1tdxpP-dLf-ZgVfTHvqVbi6hsfO9cM0o3DAAfSQdpfnhuJS5RGuBFNOS8B2eBhXZzPU5lQyV8lDlNjSrAYXk6cD-UF_rzmgJnX0AN2KKbghXZgkWx9aDLcVNQ-aoHOJm0LZqR" alt=""/><figcaption>Source: <a href="https://ens.mirror.xyz/-eaqMv7XPikvXhvjbjzzPNLS4wzcQ8vdOgi9eNXeUuY" target="_blank" rel="noreferrer noopener">ENS</a></figcaption></figure></div>



<h3><strong>What is an Ethereum name?</strong></h3>



<p>When you register a .com domain, you use a domain registrar, which updates the database of ICANN, the international organization that coordinates internet resources, such as top-level domains (TLDs). When you go to some address in your web browser, the domain name service (DNS) translates the name into an IP address that points to a server storing the website data.</p>



<p>ENS is partly the same: decentralized websites can be served from blockchain-based decentralized storage service <a href="https://ipfs.io/">IPFS</a> and accessed via an ENS name, with a browser that supports it. (As an aside, ICANN gives .eth TLD rights to the Ethiopian government, so we may see <a href="https://twitter.com/mikedemarais/status/1458317170677518339?s=20" target="_blank" rel="noreferrer noopener">some negotiations</a> there in the future!) But that’s not actually the main point, according to Millegan.</p>



<blockquote class="wp-block-quote"><p><strong>“The primary use case for an ENS name is that it&#8217;s your portable cross-platform web3 username and profile&#8230;set it up right, and you&#8217;ll see it in dApps across web3,&#8221; he said.</strong></p></blockquote>



<p>You’ve likely seen them on Twitter profiles — especially those of Ethereum’s proponents, like <a href="https://twitter.com/VitalikButerin" target="_blank" rel="noreferrer noopener">Vitalik Buterin</a> (Vitalik.eth) — adopting an ENS name is <em>en vogue</em>.</p>



<p>As the owner of an .eth domain, you have an NFT on the Ethereum mainnet that is recognized by dApps, much as your Google or Facebook account is across Web2 apps today. With ENS, a name can stand in for a clunky wallet address, allowing owners to receive a variety of digital assets, such as BTC and ETH, directly via the domain name.</p>



<p>You can also opt to register existing domains — say, example.com — using <a href="https://medium.com/the-ethereum-name-service/step-by-step-guide-to-importing-a-dns-domain-name-to-ens-d2d15feb03e8" target="_blank" rel="noreferrer noopener">DNS within ENS</a>, to enable much of the same functionality.&nbsp;</p>



<h3><strong>Kick-starting governance</strong></h3>



<p>The point of a DAO governance token is to enable a community of people to own the underlying project that they themselves use. The first order of business for the ENS DAO is to vote on a <a href="https://discuss.ens.domains/t/proposed-ens-constitution/814" target="_blank" rel="noreferrer noopener">Constitution</a>. This simple set of five Articles, which was drafted by ENS founder and lead developer Nick Johnson, outlines the basic principles that the founders hope the community will hew to. A supermajority vote of token holders over the coming days is required for passage.</p>



<p>“This is just the initial ENS Constitution,” explained Millegan. “There is an amendment provision, and we expect it to be changed and improved by the DAO going forward.”</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">you were not airdropped free money, you were airdropped responsibility</p>&mdash; brantly.eth (@BrantlyMillegan) <a href="https://twitter.com/BrantlyMillegan/status/1458167522340052992?ref_src=twsrc%5Etfw">November 9, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>The project is also accepting applications from potential delegates who will be empowered by the community to take on the responsibility of managing the ENS treasury and representing the interests of DAO members. Token holders can delegate their ENS stake to individual delegates whose judgment they value.</p>



<h3><strong>Coinbase wants a seat at the table</strong></h3>



<p>An interesting early development is that Coinbase Inc., as an organization, <a href="https://discuss.ens.domains/t/ens-dao-delegate-applications/815/722" target="_blank" rel="noreferrer noopener">wants to be a delegate</a>. That has raised some eyebrows, as the idea of a large public company being a delegate of an important piece of Web3 infrastructure cuts against the grain of decentralization.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Bit alarming that the top delegate so far for <a href="https://twitter.com/search?q=%24ENS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENS</a> is Coinbase, a centralized company.<br><br>Lots of great delegates out there, take a moment to review anyone other than a corporate megalith perhaps?</p>&mdash; Adam Cochran (@adamscochran) <a href="https://twitter.com/adamscochran/status/1457903608134053895?ref_src=twsrc%5Etfw">November 9, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>ENS’ Millegan, however, welcomes the bid. “I think it&#8217;s great that Coinbase wants to get involved. ENS is the identity protocol of Web3, so we need a wide range of perspectives: average users, developers, companies, DAOs, etc. The key thing is Coinbase has no special insider advantage. They&#8217;re just like anyone else.”</p>



<p>Coinbase is currently in third place in <a href="https://www.withtally.com/governance/ens" target="_blank" rel="noreferrer noopener">the delegate vote count</a>, right behind Millegan and <meta charset="utf-8">Johnson, so they will very likely become an influential delegate. The process is open-ended, and ENS token holders can choose to delegate to any delegate, or to self-delegate and vote on governance issues directly.</p>



<p>Whatever you think about the Coinbase candidacy, the fact that they have signaled strong support is being interpreted as bullish for the ENS token price, which currently trades predominantly <a href="https://info.uniswap.org/#/tokens/0xc18360217d8f7ab5e7c516566761ea12ce7f9d72" target="_blank" rel="noreferrer noopener">on Uniswap</a>.</p>



<p>The token, now <a href="https://etherscan.io/token/0xc18360217d8f7ab5e7c516566761ea12ce7f9d72" target="_blank" rel="noreferrer noopener">in 47,000 wallets</a> and growing, peaked so far on its second day of trading at just shy of $68 per token, and stands at $62 at time of publication.</p>


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