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Berkens says new gTLDs mostly suck but geos suck hardest

Kevin Murphy, August 12, 2019, Domain Sales

Ever since he cashed out his massive portfolio of domain names in a bulk sale to GoDaddy three and a half years ago, domain investor Mike Berkens has been dabbling in new gTLDs, and so far he’s not impressed.

In a recent conference speech and blog post, he revealed some of his experiences parking and trying to sell his new g names, and he has come down particularly harshly on geographic TLDs.

City TLDs such as .london, .nyc and .miami are “death” to a domain investor, he said at a domainer meetup in Asheville, North Carolina last week.

His portfolio of 29 .miami names has had just 532 type-in visits in the last year, and have not received a single offer, he wrote on TheDomains.com.

On the flip-side, Berkens told his audience that domain combinations that naturally fit together, such as online.dating, atlantic.city, moving.company and bank.loans are profitable from type-in traffic and can get thousands of visitors a year.

They can be profitable even when the registry charges a premium renewal fee, he said. The domain obama.care makes him $500 a year parked and has a $150 annual renewal, he said.

But when asked directly whether he would recommend new gTLDs to domain investors, Berkens said he would not, citing among other things the added risk of unregulated price increases in the new gTLD space.

Berkens made eight figures selling his portfolio of 70,000 names to GoDaddy in 2015, but the deal apparently did not include the new gTLD names he’d picked up along the way.

You can watch his 24-minute talk here.

Uniregistry offers dating-inspired buy-now domains

Kevin Murphy, June 20, 2019, Domain Sales

Uniregistry has come up with a novel way to flog its clients’ domains, inspired by a dating web site.

It has published a list of 60 domains where a final price had already been negotiated by its brokers and agreed by both sides but the sale had for whatever reason not been completed.

The total value of the list appears to be $433,800.

VP of sales Jeffrey Gabriel blogged that the listed prices won’t come down, but that the sellers may decide not to sell at the stated price after all.

All the sales will go through the usual Uniregistry landing-page offer system.

Andrew Allemann has already bought one.

It appears to be a one-off (or occasional) proposition, rather than a new formal, developed, automated buy-it-now service.

I imagine it will be more popular among buyers — who don’t have to muck about too much negotiating a price — than sellers.

Smart sellers, from what I can tell, tend to base their price to a large extent on how rich they think the buyer is.

Gabriel said he’s calling this hook-up service “Missed Connections”, named after the section of Craigslist where people who make meaningful eye contact on public transport can post classifieds in an attempt to make contact with their near-miss.

I once told my girlfriend I loved her for the first time via Missed Connections. True story. Of course, that was back in San Francisco in the mid-noughties, a time and place in history when almost every meaningful transaction or life experience was carried out via Craigslist.

Nowadays, I hear it’s mainly just prostitutes.

Watch John Oliver take down voice.com’s buyer

Kevin Murphy, June 19, 2019, Domain Sales

The blockchain developer that just spaffed $30 million on the domain name voice.com was the subject of a takedown on Last Week Tonight With John Oliver a year ago.

Oliver spent four minutes of a 25-minute rant about cryptocurrency offering some harsh criticisms of Block.one, which made the record-breaking purchase to brand its forthcoming crypto-based social media platform Voice.

He’s primarily concerned with warning viewers that initial coin offerings may be nothing but huge scams, and that a key Block.one backer (who left the company shortly after the show aired) may be a bit shady.

The whole segment’s worth a watch for context, but here’s the part concerning Block.one.

    Last Week Tonight, in case you somehow don’t know, its a weekly topical comedy show that airs on HBO in North America, Sky Atlantic in the UK and Ireland, and The Comedy Channel in Australia. It’s one of the best things on the telly, and I consider John Oliver the de facto UK ambassador to the US.

Record-breaking $30 million domain sale was financed by cryptocurrency

Kevin Murphy, June 19, 2019, Domain Sales

Records were broken yesterday when voice.com became the most-expensive domain name ever sold.

Handed over for a cool $30 million cash, it more than doubled the previous record for a domain-only transaction, 2010’s $13 million sale of sex.com.

The seller was MicroStrategy, an analytics software provider that just happens to have a stash of high-end, one-word .com domains among its assets.

The new owner is Block.one, a blockchain software developer that has raised a staggering amount of money despite not yet having any products.

The voice.com domain will be used for Voice, its first service, a social media platform based on the EOSIO blockchain platform that Block.one develops.

How Voice specifically differs from existing social media offerings is currently a little vague. It’s currently just a press release and a beta-signup form.

But the company says it will be more transparent than competitors such as Facebook or Instagram, with revenue generated feeding its content-creating users rather than the platform owner.

Not even the blogs covering crypto on a daily basis seem to understand the Voice business model yet.

A crucial step in the early stages appears to be enticing so-called “influencers” — social media personalities with large followings — over from the current dominant platforms with the promise of huge financial rewards (presumably paid in cryptocurrency) if they bring their fans with them.

Key differences include the fact that users will need a government-issued ID to sign up (mitigating the problem of anonymous trolling and bots), and that every post will be recorded for eternity in the blockchain.

Is this what social media users are crying out for? More friction and less privacy? I don’t get it, personally. But then I didn’t get Twitter at first either.

The product was announced at a flashy news event in Washington, DV a few weeks ago. An executive discusses the value proposition briefly at around the 20-minute mark in this video recording.

Block.one itself is an equally odd fish.

It has amassed oodles of cash despite having no obvious business model. It may be the only company with a billion-dollar-plus valuation that doesn’t even have its own Wikipedia page.

It reportedly raised over $4 billion through an initial coin offering — where speculators buy a basically unused cryptocurrency in the hope that it will be adopted and its value will rise — over the space of a year.

The ICO’s success appears to be partly based on the personal branding of its founders, backers and executives, who have made names for themselves in the burgeoning crypto space.

Since the ICO ended about a year ago, the company has been pumping tens of millions of dollars into third-party projects that use its EOS blockchain, in an attempt to spur adoption.

It also reportedly expects to spend $150 million developing Voice.

So, $30 million is pretty much pocket change to these guys, who’ve rewarded MicroStrategy’s speculation in domain names with the fruits of their own investors’ speculation in another type of essentially worthless digital record.

In many ways, I guess cryptocurrency really is turning out to be to this decade what domain investment was to the last.

Ten years from now, perhaps voice.com will be sold for a trillion dollars, paid for in telepathic tulips or something.

MMX makes $100,000 .luxe premium sale

Kevin Murphy, May 24, 2019, Domain Sales

MMX says it has sold a package of premium .luxe domain names for $100,000.

The registry announced this week that it has sold “a small number of .luxe names for a combined value of $100,000 in a single trade”.

Depending on what that “small number” is, the individual per-domain value may not be all that much.

MMX CEO Toby Hall would only tell DI that the package comprises fewer than 100 domains.

That would still put at least a four-figure price on each domain, which I’m sure many domainers would regard as near-miraculous for a string such as .luxe.

.luxe was originally intended to have a connection to luxury goods, but MMX has repurposed it as its inroad to the blockchain space.

Domains are being primarily sold to address cryptocurrency wallets, primarily in Asia, in the Ethereum blockchain.

There are currently over 5,700 domains in the .luxe zone file.