Who’s part of the Web3 Million Dollar Club? Blockchain and Twitter Data Mashup

Cryptocurrency reached all-time heights in 2021, achieving daily trading volumes of over $500 Billion at its peak, and eclipsing $3 Trillion in market cap. With the rising tide have come countless new entrants into the Web3 Universe, from Shaquille O’Neal to Paris Hilton to Trey Songz and beyond. But the infusion of all these big names raises the question: who’s really on top of the Web3 mountaintop?  Who’s really wielding the most impactful voice?  And of course, who’s part of the exclusive Million Dollar Club? Let’s find out.

Official ENS Leaderboard website: https://anchain.ai/ensleaderboard/

Ethereum Name Service

ENS, short for Ethereum Name Service, is a naming and lookup service built on the Ethereum blockchain that allows users of digital assets to translate their machine-readable addresses to human-readable ones. Simply stated, it functions as a nickname generator for public Ethereum addresses, and may be viewed as the Web3 version of Domain Name System (DNS).

Say your friend (let’s call them Blockchain Bob) picked up the tab for dinner last night and asks that you pay them back in ETH. In order to do so, you’ll need their Ethereum public address — a 42 hexadecimal character string that looks like gibberish.

Whereas DNS allows internet users to find websites via names rather than numbers (the early days of the web required typing in an IP address to access websites!), ENS allows for paying Blockchain Bob back by sending ETH to “BlockchainBob.eth” instead of to “0x07dbc9423bc7…”

DNS accelerated internet adoption by making it easier to surf the web. Similarly, ENS aims to make digital assets more accessible. Stated differently, ENS seeks to make using digital assets as easy as surfing the web.

ENS as a naming service is not limited to Ethereum; rather, it’s a naming service that is built on Ethereum. In addition to Ethereum addresses, ENS also offers human-readable domains for other digital asset wallets, websites, content hashes and metadata.

More practically, ENS names can be used to store all of your addresses and to receive any cryptocurrency, token, or NFT.

Fun Fact: .eth domain names are actually NFTs, compliant with the ERC-721 standard. The process of transferring a registered .eth name to a different address mirrors that of transferring any other NFT

Background

.eth Leaderboard — a website that lists “The most followed Twitter accounts with .eth names” — went live in December 2021, and, as of April 30th, 2022, reflects there being 86,000 Twitter accounts with .eth names:

The motivation for creating AnChain’s ENS Leaderboard & Token Holdings Summary was to augment the data presented by .eth Leaderboard.

Once .eth domains have been registered, owners of said domains can set up the reverse record, i.e. mapping wallet addresses to .eth domains. As a result, it is possible to link Twitter accounts to token holdings based on the presence of .eth in Twitter account names.

Take Paris Hilton, for example:

Etherscan shows that “ParisHilton.eth” has been set to resolve to the following ETH address: 0xb6aa5a1aa37a4195725cdf1576dc741d359b56bd

And just like that, we’re now privy to the token holdings of Paris Hilton’s public Ethereum address!

Methodology

As part of our diligence in constructing AnChain’s NFT Twitter Map, we began collecting Twitter accounts with .eth names in Q4 2021 (and also accounts with .eth in their bio descriptions!).

We reached out to the .eth Leaderboard team in late March to let them know of our intent in creating AnChain’s ENS Leaderboard & Token Holdings Summary dashboard. At that time, our list of .eth Twitter accounts was ~35K vs. theirs of ~60K.

In early April, the .eth Leaderboard team (thanks, Greg Skriloff!) shared with us a list of 71,228 Twitter accounts with .eth names that they — along with Ultra Sound Money — had compiled.

The accounts appearing in our dashboard are the result of combining our data set with the data set that .eth Leaderboard shared with us. 

After removing duplicates and several rounds of data cleaning, we arrived at 63,116 Twitter accounts with (registered) .eth names that map to ETH addresses.

Fun Fact: it is not uncommon to encounter Twitter accounts with names that include .eth domains that have not been registered

Some clarifying points re: token holdings data presented in our dashboard:

• ETH ($): determined using ETH price on April 28th, 2022 (ETH = $2,937.30)
• NFT Collections (max value = 21): we have opted to focus on just 21 NFT Collections for the time being (select icon atop the right side of dashboard for full list!)
• NFT ($): determined using each respective Collection’s floor price on April 28th, 2022 (i.e. an account holding 4 BAYC NFTs = 4 x 131 ETH = 524 ETH = $1,539,145.20)
• ERC-20 Token Types (max value = 100): limited to top 100 market cap ERC-20 tokens
• ERC-20 ($): determined using price of tokens on April 28th, 2022
• Total Holdings ($): sum of ETH ($), ERC-20 ($), and NFT ($)

Million Dollar Club

The 63,116 Twitter accounts that appear in our dashboard have not been scrubbed.

Twitter accounts can input whatever they would like as their name. Therefore, the presence of .eth domains does not necessarily indicate the Twitter account holder is the actual owner of the ETH address resolved to via the ENS domain.

For this reason, you’ll see 9 Twitter accounts in our dashboard that reflect total holdings of $95,963,446.70, for example:

Pretty clear in this case that @ensdomains (ENS’ official, verified Twitter account) is the owner of ens.eth vs. the other (unverified, low Followers count) accounts that have similarly opted to include ens.eth in their names:

Maxing out the Token Holdings Value slider at $1M returns 356 names, meaning that of the 63,116 Twitter accounts in our dashboard, 356 are accounts that reflect Token Holdings Value of at least $1M:

When viewing our dashboard after pressing the Show Million Dollar Club button, however, 271 names/Twitter accounts are returned (vs. 356 above):

Million Dollar Club view (271 names) — unlike Show All Names view with Token Holdings Value slider at $1M (356 names) — reflects a scrubbed version/subset of Twitter accounts (i.e. ONLY @ensdomains vs. 9 Twitter accounts reflect total holdings of ~$96M).

Million Dollar Club highlights include:

• ETH Whales: 18 Twitter accounts holding at least $1M worth of ETH
• ERC-20 Whales: 31 Twitter accounts holding at least $1M worth of ERC-20 tokens
• NFT Whales: 186 Twitter accounts holding at least $1M worth of NFTs
• Bored Ape Yacht Club (BAYC) Dominance: 195 Twitter accounts (72% of Million Dollar Club) holding BAYC NFTs; 31 of which are holding 4 or more BAYC NFTs
• Diverse NFT Collections: 15 Twitter accounts holding NFTs from at least 10 of the Collections included (21) in our dashboard
• Most Commonly Held NFT Collections: BAYC (195 accounts), Mutant Ape Yacht Club (169), Bored Ape Kennel Club (147), CryptoPunks (85), Meebits (80), Cool Cats (65), Azuki (52)
• Small Audience, Large Holdings: 35 Twitter accounts with 200 or fewer Followers
• Blue Checks: 14 verified Twitter accounts

Usage Tips

Here are a few tips to improve your experience while exploring AnChain’s ENS Leaderboard & Token Holdings Summary dashboard:

• ENS domain/ETH address lookup: search toolbar allows for seeing which ENS domain/ETH address is mapped to each Twitter account:

• Collections toggle button: switch Filter by Collections toggle to Owns Any and select each Collection; returns names/Twitter accounts that are holding at least one NFT from the 21 Collections  
• Followers slider: setting a minimum value here (say, a few hundred) will remove lots of noise, i.e. the additional 8 accounts we encountered earlier with ens.eth names

Most importantly, have fun! 

Official ENS Leaderboard website: https://anchain.ai/ensleaderboard/

Find something interesting while exploring the dashboard? Screenshot it, share your findings on Twitter and tag us @AnChainAI! Have ideas on how we can improve the dashboard for future releases? Let us know!