By
Godfrey Benjamin
April 19th, 2024
The hype around Domain Names in the crypto ecosystem has cratered in the past few months in response to the negative outlook in the Web 3.0 world.
A ChatGPT Ethereum Name Service (ENS) has been sold for a record amount of close to $10,000 on the Non-Fungible Token (NFT) marketplace OpenSea. According to the update shared by the ENS Sales Bot, the ChatGPT.eth domain name was actually snapped up for 6 WETH worth approximately $9,981.84 per the shared announcement.
The sales of the ChatGPT ENS domain name are making a buzz on crypto Twitter because it accounts for yet another way the digital currency ecosystem is benefitting from the rise in the AI tool. Since the ChatGPT service was unveiled by OpenAI, it has become an instant sensation among freelancers including content creators and editors.
The sentiment around AI has trickled down to the crypto and domain name services, stirring the successful transfer of ownership of the ChatGPT.eth domain. The new owner of the domain name was identified as “ishmilly,” an not so popular NFT curated that also owns several Bored Ape Yacht Club (BAYC) NFTs and ENS Domain Names.
Just like any other digital collectible or NFT, there is no clear-cut utility for the ChatGPT.eth domain name save for the bragging rights around it. While the domain name will permit ishmilly to carry out some on-chain transactions with simplicity, use cases are generally somewhat limited.
The hype around Domain Names in the crypto ecosystem has cratered in the past few months in response to the negative outlook in the Web 3.0 world. Riding on the new sales, several other adverts have been pushed out featuring unique variants of the ChatGPT.eth domain.
ChatGPT Domain Name: Customizing the AI Revolution
The advent of the ChatGPT domain name and its successful sale on OpenSea has showcased an immense shift in the AI revolution as designed to be boosted by blockchain innovation. With many experts already predicting the unique coexistence of blockchain and AI innovations, we may begin to see similar trends rise in the future.
With the traction and backing OpenAI has received since the launch of its ChatGPT service, mainstream tech giants have been making a push to integrate the service. Microsoft Corporation (NASDAQ: MSFT) unveiled plans to inject billions of dollars into OpenAI in order to gain access to ChatGPT features.
The tech giant wants to integrate the AI assistant into its Bing search engine and the Edge browser to help advance the search product.
In order to get along with the competition and also ride the trend, Alphabet Inc (NASDAQ: GOOGL) has unveiled plans to launch Bard to rival ChatGPT. While the details on Barb will be unveiled in the near future, creators in the crypto ecosystem are also poised to create matching domain names for the yet-to-be-unveiled AI chat tool.