In a shocking move that proves how popular the NFT space is, the domain name NFTs.com has sold for $15 million. The acquisition is the largest public domain name sale this year. Moreover, the sale of the NFTs.com domain is now the second-largest public domain deal ever. Domainer.com, the domain specialists and GoDaddy played a crucial role in getting this deal done. Escrow.com provided their escrow services and also confirmed the transaction.
NFTs.com domain $15 million sale!
The sale of the NFTs.com domain is a massive win for the crypto world. Aside from the 2019 purchase of Voice.com for $30 million, no other domain sale has come close in the last ten years.
Jackson Elsegood, General Manager at Escrow.com, said, “The recent acquisition of NFTS.com is one of the largest web3-related transactions we’ve seen on the platform.”
Remarkably, the Voice.com sale was to a blockchain company. Now, the two biggest domain acquisitions in the last ten years have ties to crypto. Interestingly, Voice.com is technically the most expensive public domain name purchase ever. There have been others, but these were already huge web businesses with an established domain.
The future of NFTs.com domain
Both parties in the NFTs.com domain sale are anonymous, so the plans for the website remain unknown. However, the website now has a line of text on the landing page that reads “Powered by DigitalArtists.com Marketplace”. This is a web3 art platform that offers curated NFT drops and services to artists.
Lead broker on the deal, Matt Holden, said, “It was a pleasure to work with all parties involved with NFTS.com, an incredible opportunity for the buyer to acquire a category killer domain and one of, if not the best, possible .com’s in the entire web3 space.”
Because of the links to web3 and the name of the domain NFTs.com, it will likely become an NFT marketplace or a hub that offers NFT services.
Why are Domain names so important?
Considering the rise of NFTs in the last few years, the domain offers enormous potential and is a great asset. NFTs are a pivotal part of the web3 ecosystem, changing how we view digital asset ownership, supporting the metaverse economy, the P2E gaming industry and much more.
The rise of blockchain domains
In the past year, blockchain domains have become increasingly popular. Last month, Unstoppable Domains, the web3 digital identity platform, raised $65 million in Series A funding. Furthermore, it now has a valuation of $1 billion, giving it a unicorn status.
Unlike the NFTs.com sale, Unstoppable Domains sell domains ending in .crypto, .nft, .bitcoin and other web3 phrases. Blockchain domains are unique in that they offer a decentralized alternative. Significantly, these domains aren’t kept on a server like traditional domains. Instead, they are on a public registry.
This innovative technology offers new levels of security, and the domains are represented by an NFT. In addition, once you have the domain, it is yours forever!
There have been some huge sales of blockchain domains, and in the future, traditional domain sales like the NFTs.com sale will take place through NFT technology.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
