The long-awaited ENS Merch Store is now open for business and has released its newest collection of clothing and accessories. The store will offer t-shirts and hats featuring ENS designs that will contribute to growing ENS’ popularity in the Web3 space and please its fans’ desire for ENS-related merchandise.
What merch is available in the ENS Merch Store?
The decentralized autonomous organization (DAO) has taken its time working on the store, first discussing it more than a year ago. The project has been in development for months and will now offer special items perfect for ENS fans and the Web3 community. The store will exhibit t-shirts with the ENS logo and a sleek, modern design, as well as ENS hats and stickers that the fans will surely appreciate and adopt. Furthermore, buying the merch will directly assist ENS in expanding and growing in the Web3 space.
What is ENS? Why is it important?
The Ethereum Name Service (ENS) is similar in concept to the web2 DNS, which cleared up the issue of long IP addresses. Likewise, ENS was created to allow users for registering and using human-readable names for Ethereum addresses.
Cryptocurrency addresses represent long strings of numbers and letters. If a user decides to send funds over Ethereum’s network, they would have to input the address correctly. Otherwise, the funds the user sends will be permanently lost with no way whatsoever to retrieve them.
ENS is providing an alternative that makes memorizing an address a whole lot easier. An ENS name can be effortless to remember, making the process much swifter and smoother. The human-readable name might be “bank.eth” which would represent an Ethereum or any other cryptocurrency address that is machine-readable.
The convenience and security of ENS’ structure contribute to its popularity in the Web3 community. According to Dune research, ENS registrations have reportedly increased by over 200%, and, in the secondary market, their value reached millions of dollars. OpenSea alone saw $85,010,261 (218,111.169 ETH) worth of ENS domain trades. These numbers have given hope to numerous retail crypto traders who suffer deep losses in the face of the ongoing market-wide crypto winter.