Ethereum Name Service NFT

Operated by a decentralized autonomous organization (DAO), the Ethereum Name Service (ENS) is a service similar to the Domain Name System (DNS). In the Web2 world, the DNS converts the web server IP addresses into URLs that can easily be understood by users. Similarly, ENS makes it easier to read and share Ethereum wallet addresses. With ENS, users can convert their wallet addresses from a long string of random digits and letters into simplified, readable words (e.g. “hextrust.eth”). Such domain names for wallets are available for annual subscription fees paid in ETH. You can also buy and sell them as NFTs.

The ENS project is governed by the DAO community with the use of its ENS token. According to CoinMarketCap, the total supply of ENS is 100 million tokens. The legal entity that represents the DAO and provides legal support for participants is called the ENS Foundation. The non-profit is incorporated in the Cayman islands.