ENS is on a roll in the month of May. The alternative to DNS just marked the best month in its entire existence on all metrics that the service monitors.
The service made an unprecedented jump across different metrics: Registration, Renewals, Revenue (USD & ETH) and Income (USD Ð). And the month is yet to conclude.
If compared with the figures in May 2021, Revenue (ETH) in May 2022 rose by more than 1300%! In May 2021, the service reported 241.85 ETH while the same in 2022 was 3,165.85 ETH. When compared to just the previous month of April, the Revenue increased from 2,660.96 ETH to 3,165.85 ETH, a rise of 20%. The trend is similar across all the other metrics, with all making a historic leap.
The reason behind this rise is the brilliant branding that ENS has been able to create around itself. The crypto domain space is touted to be the Decentralised alternative to the traditional domain space. However, even if it does happen, one ponders as to who would be the next .com of that space?
Anything hard and fast regarding that notion would be inappropriate. It is unlikely that any one crypto domain extension could replace the monopoly of .com.
However, ENS does look determined to redo that phenomenon again. Earlier, they had airdropped ENS tokens for .eth domain holders. They also stated their vision behind dropping tokens that included forming a government like entity for the .eth space.
This wholesome branding is being paid back as this spike across all metrics.