{"id":7617,"date":"2022-10-04T17:08:47","date_gmt":"2022-10-04T17:08:47","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=7617"},"modified":"2022-10-04T17:08:48","modified_gmt":"2022-10-04T17:08:48","slug":"is-this-ethereums-oldest-nft-project-collectors-pile-into-early-domain-name-app","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7617","title":{"rendered":"Is This Ethereum\u2019s Oldest NFT Project? Collectors Pile Into Early Domain Name App"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<h3>Key Takeaways<\/h3>\n<p>An early Ethereum project called Linagee Name Registrar has sparked a frenzy in the NFT community over the past few days.<br \/>\nThe project lets Ethereum users mint their own domain name NFTs, similar to other applications like Ethereum Name Service.<br \/>\nNFT archaeologist Leonidas exposed LNR as the &#8220;oldest&#8221; Ethereum NFT project last week, but some have refuted his claims. <\/p>\n<p>Share this article<\/p>\n<p>The Linagee Name Registrar smart contract was deployed on the Ethereum blockchain on August 8, 2015, years before NFTs went mainstream.\u00a0<\/p>\n<h2>Linagee Name Registrar NFTs Unearthed\u00a0<\/h2>\n<p>Move over Ethereum Name Service, because a new (old) NFT domain name service is fast becoming a big hit in the crypto community.\u00a0<\/p>\n<p>An early domain name service called Linagee Name Registrar was uncovered by Ethereum developer Mason Keretsy last week and has since hit 450,000 NFT domain name registrations, per Dune data compiled by @darki. The project lets Ethereum users mint their own NFT with the suffix \u201c.og\u201d to replace their 0x Ethereum address, similar to readable website URLs and ENS\u2019 popular \u201c.eth\u201d domain names. It costs about $1 to mint an LNR NFT, and unlike ENS, owners can keep the domain name forever rather than renting it for a set period.\u00a0<\/p>\n<p>A pseudonymous developer known as linagee deployed the smart contract for LNR on Ethereum early in the blockchain\u2019s lifetime on August 8, 2015. LNR\u2019s early provenance is the main reason the project has soared over the past few days, with the help of the self-styled \u201cNFT historian\u201d Leonidas. The prominent collector posted a tweet storm about LNR on September 30, hinting that it was \u201cpotentially the oldest\u201d NFT project on Ethereum. He also hosted a Twitter Spaces call titled \u201cOldest NFT on Ethereum Just Rediscovered,\u201d attracting more than 6,400 listeners. However, some Ethereum natives have refuted the claim that LNR was the first NFT project, saying that Ethereum Foundation members minted other tokens that could be described as NFTs soon after the blockchain launched.\u00a0<\/p>\n<h2>Ethereum Archaeology\u00a0<\/h2>\n<p>Leonidas and other digital archaeologists have flocked to early Ethereum NFT projects like LNR since the technology exploded in popularity in 2021. Avid collectors argue that there will only ever be a limited number of early NFTs and they will therefore be considered more valuable than more recent projects that emerged in 2021 or later. Domain name services have proven popular due to the same supply and demand principles; over the past year, common keywords and numbered ENS domains have skyrocketed in value. Low digit numbers tend to command the highest value; 000.eth, for example, sold for 300 ETH in July 2022.\u00a0<\/p>\n<p>Of the 450,000 LNR domain names registered, many of them are also numbered domain names, with lower-digit domains proving the most popular. OpenSea data shows that multiple three-digit domains have sold for upwards of 2 ETH over the past few days.\u00a0<\/p>\n<h2>Pump &amp; Dump?\u00a0<\/h2>\n<p>While still a niche project outside of the Ethereum archaeology scene, LNR has caused significant hype amid otherwise bearish market conditions. According to Etherscan data, the LNR contract currently accounts for over 10% of all gas usage on Ethereum, placing it alongside the likes of Uniswap and OpenSea.\u00a0<\/p>\n<p>It\u2019s unclear whether the interest in LNR will last, but it\u2019s worth noting that Leonidas and other NFT archaeologists have got behind many similar early projects in the past. In many cases, projects have soared after Leonidas posted endorsements to his Twitter followers then faded into obscurity. Leonidas helped the 2019 avatar NFT project CryptoSkulls soar to a floor price of over 3 ETH in January after promoting it to his audience; today the entry fee is closer to 0.4 ETH, up since Leonidas showed support but significantly down from the peak in ETH and dollar terms.\u00a0<\/p>\n<p>While Leonidas has been accused of so-called \u201cpump and dump\u201d antics in the past, he maintains that he had good intentions when he shone a light on the project. Among the multiple tweets he\u2019s posted about LNR since September 30, he said that he had only minted 32 domain names and had no plans to sell. \u201cI am in this because the history is cool,\u201d he wrote, adding that he wanted to see \u201ca fair distribution.\u201d\u00a0<\/p>\n<p>Dune data compiled by @darki shows that 21,795 wallets had minted LNR domain names at press time. The top holder has registered over 9,000 domain names in just over a day.\u00a0<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned ETH, some ENS domain names, and several other fungible and non-fungible cryptocurrencies.\u00a0<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/is-this-ethereums-oldest-nft-project-collectors-pile-into-early-domain-name-app\/?utm_source=category_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways An early Ethereum project called Linagee Name Registrar has sparked a frenzy in the NFT community over the past few days. The project lets Ethereum users mint their own domain name NFTs, similar to other applications like Ethereum Name Service. NFT archaeologist Leonidas exposed LNR as the &#8220;oldest&#8221; Ethereum NFT project last week, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-7617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7617"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7617\/revisions"}],"predecessor-version":[{"id":7619,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7617\/revisions\/7619"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7618"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}