The domain name NFTs.com has just been sold for a princely sum of US$15 Million, this makes it the second largest domain name sale reported publicly that I am aware of.
For those who are unsure, NFT is an abbreviation for Non Fungible Token or in this case, the plural NFTs Non Fungible Tokens. Here is a link to one of our Assets Show episodes on What is an NFT.
Whoever said domain plurals are not valuable, needs to think again.
The sale was brokered by GoDaddy and Domainer.com for a buyer who has chosen to remain anonymous at this time. Escrow.com managed the domain transfer and payment and confirmed the sale in this press release courtesy of DNW.com
The domain name NFT.com sold for $2 million in 2021 brokered by Media Options. It is now used for an NFT website selling NFTs under its own management.
What we need to emphasise here is that this is the second highest PUBLICLY LISTED domain sale. There are many more that I am aware of that have sold for higher prices that are not public which is of course, the buyer or sellers choice.
Another critically important factor to be pointed out for all of those buying or selling domains, is the use of domain valuation tools, which in my opinion are utterly useless at estimating the TRUE value of a domain name.
NFTs.com is a case in point where the domain sold for US$15 Million but was valued up until that sale, ranging from US$7,598 up to US$48,000 by the main four domain valuation bots, GoDaddy, Alter, Estibot & Saw.
Screenshots below, sourced from the great article at freespeech.com.
This goes to show that basing the value and price of your domain should most definitely NOT be left up to a domain pricing bot. Only US$14 Million+ dollars would have been left on the table in this example. OUCH!
To show how much of a joke these tools are, Estibot.com has updated its appraisal of NFTs.com to show US$2,500,000 today (4th Aug 2022), how convenient but still way off the mark.
You need to do your own research on your domain value and not be suckered into selling your digital assets, in this case your domain names, for a fraction of what they are worth.
We recently brokered this year at DBR.com.au, a 3 letter domain, often referred to as a LLL, for around US$350,000. This sale is under NDA so we can’t disclose the domain or the buyer or seller, but this gives you an indication of how valuable short, memorable, one-word Australian domain names are worth.
It is a domain that could typically sell for high five-figures, but in this instance, the perfect buyer who needed that domain came along. The domain owner had held that domain for 20 years and wasn’t motivated to sell. Until he was.
To think that only a few years ago the term NFT was meaningless to most people and yet here we have two examples of domains, NFT.com & NFTs.com, that have sold for a combined US$17 Million dollars.
What names do you own that could be worth a lot more than you think if they are representative of a new technology or trend that is yet to blossom?
If you want to talk to either myself or Rob about your domains and their value, head on over to DBR Domain Brokerage DBR.com.au, and we will be happy to chat with you about selling or acquiring your next category defining domain name.
Massive sale of NFTs.com – and the whole “NFT thing” is just beginning. Yes, I’ve always said the only way to accurately price your digital asset is to talk with a trusted Domain or Digital Asset broker, such as ourselves, who are doing it every week 🙂
Case in point… “Starbucks to launch NFTs” – https://techcrunch.com/2022/05/04/starbucks-to-launch-nfts-this-year-offering-access-to-unique-experiences-and-benefits/