Many brands are switching their names to decentralized Ethereum Naming Service (ENS) URLs. Puma has become the latest brand for changing its name to Puma.eth and registering to the domain name with ENS on February 21st. The major german brand has taken its first step into the Web3 world and NFT space.
Also, read - How to get .eth domain name?
In addition to Puma, many other brands related to the different domains have registered their domain naming service through ENS. Last year, Budweiser, a subsidiary of Anheuser-Busch InBev has bought Beer.eth through ENS for 30ETH on OpenSea. The ENS also encountered the registering of the fastest-growing food-chain White Castle with whitecastleofficial.eth.
The major benefit behind the changing name system is to receive any cryptocurrency, NFT token, or blockchain-based asset securely. Since the whole system is decentralized, the security of digital assets is not an issue now. For many users, it has become easy to store their avatar, email address, and crypto address on Twitter handle.
Recently, Puma has made a game-changing move on OpenSea and invested in various NFT collections which include Cool Cats, Lazy Lions, Gutter Cat gang, and CatBlox. Currently, Puma.eth is the most followed account on Twitter and ranks 13th in place.
On the other hand, the Puma counterparts such as Adidas Originals and Nike have also managed to be in the limelight of Web3.0 space. Nike acquired the virtual sneaker collectible brand RTFKT, whereas Adidas Original collaborated with Bored Ape Yacht Club(BAYC), PUNKS, and gmoney.