Cryptoverse: Trading names in a mind-boggling crypto craze

economictimes.indiatimes.com:

NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-million-dollar lifeline for speculators shivering in the bleak crypto winter. «Domain» names such as coin.crypto (which has sold for $100,000) and beer.eth (which fetched $39,000) are a new breed of NFTs that owners can use to replace the jumble of 16 random numbers and letters that form their digital wallet addresses. It might seem a lot of money for the crypto equivalent of a custom car plate, yet backers say these names could become valuable real estate in the years to come with the advent of Web3, a much-hyped vision of a future internet built on blockchain. Right now the trading market for these alternative assets is providing rich — and risky — pickings for some investors who are scooping up buzzy domains with the aim of flipping them for a profit in the secondary market on NFT platforms like OpenSea.

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«We have domain names starting at as little as $5, we've had some sell for as much as $100,000,» said Matthew Gould, CEO Unstoppable Domains, which sells names ending in .crypto, .nft and .wallet on its website. «The range is because there's a definite perceived value difference between different words and lengths.» The company has seen some bumper deals of late: for example wallet.crypto sold for $250,000 and earn.crypto went for $100,000, both in April. Meanwhile the .eth names generated by the Ethereum