Even through the bear market of the past couple years, ENS has seen some of the most bullish integrations imaginable: - Shopify - GoDaddy - Uniswap - Google - Paypal & Venmo - Base - Ubisoft None of this has been priced in yet

Floors are moving fast

3-digit floor over 5 ETH again Been a while

Web3 profiles mostly consist of a username (ENS name) and potentiially a pfp NFT. But your name matters far more than your pfp: - Your name shows up everywhere ENS is integrated (which is any major web3 app) - Pfp NFTs don’t show up by default and when they do, it’s often via your ENS profile - Your ENS name has much more utility: identity, payments, websites. - Your ENS name even links the other components of your web3 profile like pfp, bio, email etc. Now compare floor prices of the most popular pfp collections to those of, for example, 3- or 4-digit ENS names There’s no greater asymmetric opportunity right now

agent.eth just sold for 42 ETH

The thesis is still the same: -> Number of blockchain addresses goes up -> Number of ENS integrations goes up -> Number of ENS names goes up -> Number of scarce ENS names stays the same -> Price of scarce ENS names goes up

The first sign of any ENS bull run will always be ETH flowing into the most liquid categories

The floor of 4 digit ENS has moved up to 0.04 ETH Might not seem like a big deal but they have been trading at almost 0 for a while now Getting of the ground is the hardest part since people can't justify the renewals at floor prices this low All that's needed is some momentum

Looks like @ensvision has full functionality again We're back

First and last names selling today Will always be one of the best investments