Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

NFTs.com Domain Name Sells For $15 Million

Cryptocurrency Aug 05, 2022 11:31PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
NFTs.com Domain Name Sells For $15 Million

‘NFTs.com‘ will have a new owner after the domain was reportedly acquired for $15 million by an undisclosed buyer. The acquisition comes as the largest public domain name sale so far this year, and the second-largest public domain deal ever.

The deal was brokered by ‘Domainer.com‘ and ‘GoDaddy’. The sale was facilitated by ‘Escrow.com‘, which provided escrow services and confirmation for the transaction.

One of the Biggest Ever Domain Deals

The sale of the NFTs.com domain name is a massive deal. The acquisition ranks as the second-biggest public domain deal ever, and the biggest public domain name sale this year.

In 2019, MicroStrategy sold the ‘Voice.com’ domain for $30 million in cash, becoming the biggest domain sale deal of the last ten years at the time. The domain name was purchased by blockchain-based social media platform Block.one, which subsequently launched blockchain-based social media platform, ‘Voice’.

Jackson Elsegood, General Manager at Escrow.com, said in the official press release:

“The recent acquisition of NFTS.com is one of the largest Web3-related transactions we’ve seen on the platform.” Lead broker on the deal, Matt Holden from the Domainer.com team, 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.”

Probable Use as an NFT Marketplace

The parties involved on either side of the domain deal are undisclosed, and the future plans for the ‘www.nfts.com‘ website remain unknown. However, upon opening the website, visitors are greeted by the message “Powered by DigitalArtists.com Marketplace” on the landing page.

Digital Artists claims to be a curated NFT art platform for new and established artists, art collectors, NFT drops, and collaborations in Web 3.0. NFTs.com is therefore likely to become an NFT marketplace, or a hub offering NFT services.

“Although no formal plans have been publicly announced regarding a project at NFTs.com, Domainer can report that the buyer has associations with other web3 projects, such as DigitalArtists.com, which offers a curated web3 service to artists,” Escrow.com disclosed in the press release.

On the Flipside

  • NFTs boomed in 2021. However, there are signs of the NFT market normalizing at yet.
  • The use cases of NFTs and their impact on digital ecosystems are becoming increasingly important criteria in the valuation of NFTs.
  • NFT sales on secondary markets fell 25% in July from levels of $650 million in June, marking their second month in a row under the $1 billion, according to data from NFT data aggregator CryptoSlam.

Why You Should Care

  • The domain is a huge asset and offers a lot of potential, especially given the emergence of NFTs in recent years. NFTs play a crucial role in the Web 3.0 ecosystem, transforming how digital assets are owned, and enabling the growth of the metaverse economy, peer-to-peer gaming, and other sectors.
  • Over the past year, blockchain domains ending in .crypto, .nft, .bitcoin, and other Web 3.0 terms have become increasingly popular. Blockchain domains are unique because they aren’t stored on a server, as in the case of traditional domains. Instead, they are held a public registry.
  • Last month, Unstoppable Domains, the Web 3.0 digital identity platform, raised $65 million in a Series A funding round. Following the financing, the company now holds a valuation of $1 billion, giving it “unicorn” status.

Find more information about NFTs in 2022:

How to Create and Sell NFTs: A Step-by-Step Guide for Beginners

Top 10 Weirdest Things That Have Been Minted and Sold as NFTs

Continue reading on DailyCoin

NFTs.com Domain Name Sells For $15 Million
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email