Shopify CEO Tobi Lütke cops tobi.eth ENS for 30 ETH


Tobi Lütke, CEO of e-commerce giant Shopify, bought ENS domain name tobi.eth for 30 ether.

Shopify CEO Tobi Lütke has, according to a post on Twitter, purchased the ENS domain name tobi.eth for the handsome sum of thirty ether ($ETH), about $122,000 at the time of writing. Information about the deal was posted by the ENS sales bot on Twitter, and confirmed by Lütke in the comments. However, Lütke has yet to change his Twitter handle to the ENS name in question, as is common among ENS domain name owners.

ENS, Ethereum Name Service, is a naming system based on the Ethereum blockchain. ENS’s job is to map human-readable names like “john.eth” to machine-readable identifiers such as Ethereum/cryptocurrency addresses, content hashes, and metadata. To this date, there are more than half a million names registered to over 200,000 owners.

As ENS domain names become increasingly popular, so seems to be the market value of some domain names, especially short ones and those with popular words, for example, beer.eth owned by beverage giant Budweiser. ENS domain names are NFTs and can be traded as any other NFT like art and collectibles.

With ENS names selling for double-digit numbers in ether, they now play in the same price league as high-end NFTs like CryptoPunks and Bored Ape Yacht Club.

Posted In: Ethereum, NFTs

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