According to Statists research, data for July 2022 found 84 million unique wallets using the top 6 platforms & that’s not counting MetaMask wallets which make up about 30 million more.
Today, #ENS has ONLY 0.5 million primary names set so that’s 0.44% of total wallets in use.
We all see the explosion in new registrations and ENS adoption. At this rate we should capture at least 10% of total market share of wallets in 2023.
This means 11.5 million #ENS primary names set which is crazy considering we only have 2.6 million names registered so far
Of course much of those wallets will be using subdomains. @CoinbaseWallet already allows you to claim your free subdomain for your wallet.
It’s only a matter of time before their millions of users learn about the utility of having an #ENS and start using it.
Exchanges have a lot to gain from this as #ENS removes friction for their crypto customer user experience.
Reducing error & make in it easy to send crypto to a human readable address is huge for mass adoption. Other exchanges/wallets will jump in once they realize the potential.
Another use case for #ENS is the identity layer it is creating. Personalizing your wallet with a name is as powerful as having a PFP #NFT for your public identity.
We all know many actually will change their pfp but less likely to change their name.
Also, you can set your NFT as your ENS avatar so they work very well together. Soon it will make no sense to have an NFT as your social identity without an ENS name to go with it.
This is why we think #ENS reaching 10% of wallets in 2023 is a lowball goal & we could have a compounding growth effect because of all the possible use cases for this technology.
All of this & the @ENS_DAO is going no official marketing yet. However, it seems like it’s coming as they just put up a budget of 275k USD to a marketing agency to start a campaign for ENS.